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  • Created with Sketch. It is being reported that major internet and cell service providers Verizon, ATt&T, T-Mobile, as well as some smaller local providers are experiencing a massive outage across the United States. This will impact the ProSeries program in regards to customer receiving MFA codes, as well as messages indicating ProSeries is not connected to the Internet.
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    Earned Income Tax Credit - 2020

    M Braun
    Level 2

    Will Proseries Professional and Proseries Basic automatically calculate the Earned Income Tax Credit and Additional Child Tax Credit for 2020 using 2019 income if using 2019 income provides a more favorable result?

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    2 Comments 2
    TaxGuyBill
    Level 15

    "Automatically", probably not.

    They have not updated the "EIC Worksheet" yet, but when they do, you will probably need to manually enter the prior year's income on that.  Then you will probably need to check the "yes" or "no" boxes to select if you want to elect to use last year's income or not. But that worksheet should show you the results of using that election or not, so it should be fairly easy to figure out if the election is a good idea or not.

    dlwrightandco
    Level 2

    Using 2019 earned income for the 2020 EIC generates a message that the return is ineligible for e-filing due to unsubstantiated income. Both returns prepared with Proseries Professional. Will there be a fix for this?

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