It appears that the updated New York State personal income tax rates that are effective for 2021 (legislation was passedin April 2021) are not incorporated in the 2020 Proseries Professional software. I called Proseries Support and was told the 2020 software will not be updated because the tax rate changes don't impact the 2020 tax year. I think the tax rate changes should be incorporated because they impact clients' 2021 estimated tax payments. Has anyone else raised this issue?
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It ain't gonna happen in the 2020 software.
Im not familiar with NY, but Im looking at their 2020 and 2021 tax bracket tables and Im not seeing much difference.
Doesn't NY have the "100/110% of the prior year" safe harbor?
(I do ONE New York return....so I'm not an expert 🙂
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