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UIC exclusion and DRAKE Software

abctax55
Level 15

From a different forum - just for perspective:

It looks like the IRS has moved very quickly. Drake is ready, not sure about the other software vendors 

Unemployment - Software Update

Tomorrow morning, a software update for the new Unemployment Compensation Exclusion Worksheet will be available, allowing you to file returns with this new exclusion.

How It Works

You will continue to enter unemployment compensation as you have been. The software will produce a worksheet to calculate the exclusion amount, and that amount will carry to Form 1040, Schedule 1, Line 8 in accordance with IRS instructions.

Returns Previously Filed with Unemployment Compensation

The IRS strongly recommends that tax preparers and taxpayers should not yet file amended returns for the Unemployment Exclusion. Official IRS guidance is forthcoming.

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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6 Replies 6
rbynaker
Level 11

I found this from Google.  According to their Broadcast Center they've sent out at least 4 notifications so far:

https://kb.drakesoftware.com/Site/Browse/17149/20210313-Broadcast-Unemployment-Compensation-New-Excl...

There was also a link to a "coming soon" page to track state responses to ARP:

https://kb.drakesoftware.com/Site/Browse/17148/State-Conformity-to-ARP-Unemployment-Compensation

This might be worth bookmarking since Drake does a better job than Intuit at keeping their customers in the loop.

TaxGuyBill
Level 14

@rbynaker wrote:

Drake does a better job than Intuit at keeping their customers in the loop.


 

That statement isn't exactly fair to Drake ... ANYBODY does a better job at informing their customers than Intuit.  For that matter, I suspect my 10-year-old niece does a better job at informing Intuit customers about things than Intuit does.

Drake does an excellent job at informing their customers.

Intuit rarely informs its customers about anything.

pamdory
Level 7

Let's be fair.  Intuit does an excellent job of informing us of new products we should buy from them.

Isn't Drake like $1,500 per year?  I'm starting to feel like a putz...

rbynaker
Level 11

@pamdory wrote:

Let's be fair.  Intuit does an excellent job of informing us of new products we should buy from them.


To be just as fair, of the 46 Drake emails I've gotten this year, 26 of them were ads for add-on services or CPE.

IRonMaN
Level 15

This is a complete surprise to me.  Drake kept their customers informed and have a an update in place.  Intuit is "working on it and will have an update in the future".  Luckily I'm still in a good mood or this might have pissed me off.  Intuit is so afraid to give any kind of clue to their customers as to any updates or corrections EVER.  They evidently still believe they are the only game in town and can continually keep people in the dark.  Ok, I'm going to stop thinking about this because my mood is turning and I am starting to get pissed off.

Armpit sniffer. Yup, checked out the help wanted ads and found the job. With my nose, how can I go wrong?
abctax55
Level 15

or corrections EVER.

Well, it's difficult to post info about corrections when errors aren't disclosed in the first place.

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