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Is the email regarding Critical alert QBI legit?

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Steve304
Level 1
CRITICAL ALERT Regarding QBI and Amortization for Partnerships, SCorporations & QBI and 179 Limited


Dear  ,


We discovered a programming issue in ProSeries for Partnership and S Corporation returns that may have resulted in an incorrect QBI amount.

Returns with:

  • Activities that have QBI, Amortization and Section 179, the Section 179 deduction was not included in QBI. This caused an overstatement of QBI on the entity return which was passed on to the K-1 partner/shareholder. This issue may have caused the partner/shareholder to understate their taxable income on the 1040 return, resulting in a tax underpayment.
  • Certain conditions can cause an incorrect QBI amount reported on partner/shareholder K-1 when Section 179 is limited. This caused the partner/shareholder K-1 to understate QBI amount and overstate the carryover to the 2019 return. This issue may have caused the partner/shareholder to overstate taxable income on the 1040 return, resulting in an overpayment of tax.
In both scenarios, the affected 2018 Partnership and S Corporation returns will need to be amended and filed, and new K-1s issued/distributed with corrected QBI. Amended K-1 recipients should file amended 2018 Individual returns and include payment for any additional balance due.

The list of your impacted return submission IDs can be accessed by entering your Customer Account Number here: Impacted Clients Lookup


We apologize for any inconvenience this may cause you. We’re here to help if you have questions; please contact us atProSeriesResponseTeam@intuit.com 

Thank you,


Julie Kozloski
ProConnect ProSeries Product Manager
Intuit ProConnect
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1 Solution

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Employee
Employee

All- Thank you for your diligence with your security. I can confirm that this email is from Intuit, and has been sent to our ProSeries users affected. 

View solution in original post

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34 Replies 34
Employee
Employee

All- Thank you for your diligence with your security. I can confirm that this email is from Intuit, and has been sent to our ProSeries users affected. 

View solution in original post

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dd4vols
Level 5
well... i got no email...and now the link above doesn't work...…… so how do i proceed?  geesh
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All-Star
lol....same here. love it!! :laughing::laughing:
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Steve304
Level 1
if you got no email then you are likely fine...it was legit and helpful in correcting 7 returns it had affected with very little changes fortunately
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dd4vols
Level 5
"likely"??   I don't think my clients would want me to be 'likely' accurate on their filings...….
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All-Star
Well, it's still better than "unlikely" accurate :wink::wink:
Wile E's Tax Prep, Emergency Brain Surgery, and Used Tire Shop - Nobody does it cheaper! Call 8675309 for an appointment today - or tomorrow, we aren't that busy.
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Steve304
Level 1
hey just trying to help make you feel better about not getting an alert email, this problem was pointed out to Pro Series at near the beginning of filing season, they finally fixed it around 3-7-19, so returns done prior to that could have issues if any of these things applied - best wishes, i will just take care of my clients and quit commenting to be helpful....
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mattardelean
Level 1
Steve304: I very much appreciate you posting this question to the community! I'm sure if it weren't for you posting so quickly, many, like me, would think it was a scam. Cheers to Steve304!
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Steve304
Level 1
thanks!
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All-Star
:+1::+1:
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All-Star
I had one return flagged, but it was a false alarm.  QBI was reported correctly on the 1040 so I can sleep tonight :sleeping::sleeping:
Wile E's Tax Prep, Emergency Brain Surgery, and Used Tire Shop - Nobody does it cheaper! Call 8675309 for an appointment today - or tomorrow, we aren't that busy.
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All-Star

I believe so, I also received the e-mail.

Wile E's Tax Prep, Emergency Brain Surgery, and Used Tire Shop - Nobody does it cheaper! Call 8675309 for an appointment today - or tomorrow, we aren't that busy.
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Steve304
Level 1
looks like they would just add a query to Proseries to see who is affected instead of this link lookup, that's the part that made me think it could be a scam to access my files....??
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mattardelean
Level 1
I don't believe it is. Looks very suspicious seeing how my salutation states Dear , as well. No alert on my 2018 ProSeries screen... Be careful. I'm waiting for Intuit to respond.
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Not sure either.  Waiting on this one.
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Steve304
Level 1
yes i checked the alerts as well and thought it odd there were none....
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Steve304
Level 1
sounds like many of us received it....
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All-Star
I don't see it in my email anywhere....who did it come from?  Can you see the actual email address that sent it?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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All-Star
If it is a scammer, they sure went through a lot of work getting the correct product manager name and a lot of details as to the problem.  But in any case, in this day and age, who would want to click on the link anyway?
Wile E's Tax Prep, Emergency Brain Surgery, and Used Tire Shop - Nobody does it cheaper! Call 8675309 for an appointment today - or tomorrow, we aren't that busy.
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Steve304
Level 1
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All-Star
Read the verbiage at the bottom of the e-mail.  Only Intuit is going to encourage you to come here with questions rather than call support :smile::smile:
Wile E's Tax Prep, Emergency Brain Surgery, and Used Tire Shop - Nobody does it cheaper! Call 8675309 for an appointment today - or tomorrow, we aren't that busy.
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Steve304
Level 1
isn't that so true....
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jnncpa1
Level 1
I received it as well and it looks suspicious.  Why wouldn't they have posted an alert inside of Proseries as well?
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wjgutcpa
Level 2
So this was brought to their attention 5 months ago, and now we get an email?
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pdurham
Level 1
I don't trust the email.  ProSeries always communicate within their software.
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jnncpa1
Level 1
Just got off the phone with Proseries support and the agent said the email is legit.  She said they are not adding a query within the program to produce this info and clicking the link is the only way to get it.
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All-Star
So I was right ------------------------------- even though I was unhelpful :stuck_out_tongue_closed_eyes::stuck_out_tongue_closed_eyes:
Wile E's Tax Prep, Emergency Brain Surgery, and Used Tire Shop - Nobody does it cheaper! Call 8675309 for an appointment today - or tomorrow, we aren't that busy.
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wjgutcpa
Level 2
An alert thru the program would have been nice.
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ronald
Level 1
I checked on the ones that are in query and they seem fine though..
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Steve304
Level 1
Thanks to all!!!
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Remle
Level 1
I received one as well but would not dare open within e-mail. I checked here 1st.
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All-Star
If Intuit / Proseries put in the yellow alert bar then people would know there was a problem and Intuit / Proseries does not want that information to be known - even where there are problems.  They hid it from everyone.  Don't even include it in there help files so you can know.
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DTNY07
Level 1
I see the alert today when I was going to prepare an S corp return.  i have no clue if i received an email on 7/10.  we were closed for 2 weeks including that date, so I may have accidentally deleted it when zipping through the several hundred emails i received in those 2 weeks (of which most were junk to me).  Now I have 16 returns listed as that may be effected.  I am a one CPA operation, I don't have time on September 4 with the deadline 11 days away to check all these and figure out what is wrong.  Pro Series should pay for any penalties and interest, but of course they won't.  This is my 13th and probably final year of using this software.  Too many issues the last two years, this is just icing on the cake of my unhappiness with Pro Series
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DTNY07
Level 1
OK I called pro series and they explained that all 16 returns may not be effected. just that those are the max it could be.  so my office manager is going through the partial submission IDs to see which returns it would be. then i match the file (which would already have been changed with the update to the return that was filed.  if no change on the QBI form, then nothing to amend.  So I may still want to torch my software, but for now I hold off
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