There - we got it out of the way. Hopefully that cuts down on a couple of thousand posts.
Best Answer Click here
Great question @IRonMaN!
While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available.
For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.
Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community.
Isn't it odd that IRS now has a "Chief Taxpayer Experience Officer," but Intuit doesn't have anyone to send a short email to all customers to tell them, "We're working on it." ?
I believe they are debating whether the "e-mail team" or the "we're working on it team" is responsible for that message.
Great question @IRonMaN!
While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available.
For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.
Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community.
That's Rescue, not Resuce
"Great question"
Yeah, it appears to be based on it being posted at least once every hour here 😢
But they do have a page that was last updated a week ago. Too bad it doesn't even mention tax exclusion for unemployment.
@BobKamman wrote:
That's Rescue, not Resuce
Thanks Bob, I must of forgot how to spell Rescue for a second 😜
It makes sense ..this is happening in real time..therefore preparers should either wait or amend later .... as we wait to receive guidance and or changes from IRS and software company.
At the top of the ProSeries channel (or whatever you call sub-forums) is a link that says "For the latest information on the American Rescue Plan, please check here". The link is to an article last updated on 3/4/21. Not exactly the "latest" info . . .
If only.....seems everyone knows how to post a question but no one can read what has already been asked !!! Makes me crazy
Why is this marked as solved? I didn't mark it as solved, but yet it is marked as solved. Have I been deemed to not be bright enough to know when a post solves my problem? I know the anvils have taken their toll but I don't think I am quite that brain damaged yet.
I guess it's "solved" for now... we'll have to ask again tomorrow. 😁
I'm sure we will 😀
So when is the update coming now??? Are we just suppose to sit on returns with Unemployment benefits and let them pile up? Even thought they are ALL calling us wanting to know if we exempted their $10,200 and when will their returns be ready??
Also, what about returns in Louisiana (where I am at), Texas, Oklahoma, etc., that now have until June 15th to file returns, pay estimates, etc.????? Letters in Lacerte still say, March 15th (s-corps/partnerships) and April 15th.
Come on guys, what are you doing there??? We're just sitting here waiting.......
But the IRS has already issued guidance. The exempt amount of unemployment is to be entered as a negative number on line 8 of Schedule 1. (Full amount of unemployment received is to be entered on line 7 as per normal.)
Intuit ought to have already had that easy fix fixed.
Now for the tricky part -- how are you going to fix the Kentucky tax returns, as Kentucky has NOT exempted any of the unemployment from taxation, yet Kentucky uses the AGI from the 1040 as the first number entered on the form.
It's the latest info Intuit has for us. They schedule their programmers and tax experts for vacations this time of year, as is customary for office (cubicle) workers in Cambodia.
Agreed. We are in the tricky part too here in Louisiana - not exempted here yet either.
But our due dates here were changed a week ago to June 15th because of the winter storms and that still has not been updated either.
So I guess all of this just caught Lacerte completely unaware??? They weren't watching all of this in anticipation of making changes??
The ONE job a tax software vendor has is to make sure their software stays valid. I was working on my first partnership for the year, print the thing out, and the $$-amounts are printing on the wrong line numbers on the Kentucky version of the partnership return. They are on the right line on the screen, but not on the printed copy. No telling where that number will go when it is time to e-file.
And of course, nobody at intuit is working today.
Have you tried printing to a pdf to see if that makes any difference? It's been a wonky year for printing and sometimes the pdf printing solves problems. It may not in your case, but it's worth a try.
Intuit Austin - March 15 - any news on an update to the software - thank you
Nope, not tried that. My ultimate concern is that the e-file will be messed up, too. Instead of stating the total (of all the above lines) is X, the printed-out form says the late payment penalty is X, and leaves the line where the total goes, blank. Each partner gets a copy of that. Makes me look bad when things like that happen.
What are you saying? To what post are you replying ?
Look above your previous post
Thought this “IntuitAustin” said to “ask a question” and they reply!
Is that generated email in the software that takes one to a site with no response?
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.