The State of MD passed the Relief Act a couple days ago and one of the big changes was the exemption of unemployment benefits from state/local taxation. To claim this exemption, MD Form 502LU must be filed with the return, which must be a new form created by the Relief Act. Because of COVID shutdowns, I have a large stack of returns awaiting this form to file. Any idea how quickly Lacerte can/will add this form to its program?
After a call to Lacerte and a call to Maryland, this is what I've been told.
Maryland intends to release the 502LU on April 15th
Lacerte says the form will be in the software on April 21st.
So much for any plans made for the "end" of tax season.