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Software update for One Big Beautiful Bill

jimgaycpa
Level 2

Will the 2024 Proseries Tax Planning Tool be upgraded with the changes from the recent bill, so when we use it to forecast 2025 tax plans, the correct application of the 2025 tax law will be reflected?

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7 Comments 7
IRonMaN
Level 15

What have you heard?  Nobody here can answer that question since Intuit doesn't usually share that kind of information with its users.


Slava Ukraini!
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jimgaycpa
Level 2

I haven't heard anything, that's why I'm asking the question.

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sjrcpa
Level 15
TaxGuyBill
Level 15

Interestingly, I heard Drake has their planner updated.

IRonMaN
Level 15

But is it accurate? 🤔


Slava Ukraini!
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rbynaker
Level 14

@IRonMaN wrote:

But is it accurate? 🤔


It's a work in progress.  They have the standard deduction and senior exemption but they don't have any of the non-itemized deductions in there yet.  It's expected by the end of the month.  Here's their kb info if anyone is curious:

https://kb.drakesoftware.com/kb/Drake-Tax/18837.htm

 

 

BobKamman
Level 15

How could it be accurate when the overtime earnings must be shown on the W-2 and that isn't available from 2024 data?