1120-W

[adam_cpa]

When will Form 1120-W be available?  This form isn't even listed on the page where it shows form availability.  It is listed in ProSeries 1120, but when you click on it it takes you to the info worksheet.  Has ProSeries changed where you calculate 1120 estimated tax payments?

[vscpanm]

I checked the "update" for forms, and the 1120W does not appear anywhere in the update. I believe this is an error. 

[adam_cpa]

@IntuitGabiU can you check with the higher ups to see if 1120-W is going to be added to the forms release date schedule.  i believe this form is necessary to calculate Corp estimated tax payments.

[vscpanm]

I was on the phone for 45 minutes with a tech agent, and at the end, really go no where. She did not seem to understand that the form is listed but not actually there. very frustrating.

[IntuitGabi]

It looks like 1120-W is historical. I found the information here: 2022 Instructions for Form 1120 

[vscpanm]

So when we have to set up ES payments, how does it appear in the client instructions when there is no place to set up the ES payments? Even though it does not generate vouchers, it is good practice to have it appear in the client instructions. 

Also, the IRS instructions to form 1120-W for 2022 say it is the last revision. I think the form is still valid, it just will no longer be updated. It does say prior versions will still be available. 

[HPMCPAs]

Just because the form has been put into historical status by the IRS doesn't mean that we don't still need it for corporations.  Is Proseries going to put the form back?

[vscpanm]

I completely agree. Like I said. The IRS says the forms won't be revised any longer, but they are still available. We need that form to to do the calculation and print with the instructions.

[adam_cpa]

For the moderator... Can you discuss this one more time with the higher ups?  This form or some other worksheet is not optional.  We have to be able to calculate estimated tax payments for our clients.  And for those payments to show up on the client letter.  Thank you.

[vscpanm]

@IntuitGabi   This form is still necessary for the preparation of the return and the client instructions. The IRS instructions do not say the form has been removed, IRS is simply not going to revise it anymore. It should still be a part of the software.

[IntuitGabi · Accepted solution]

The team is planning to include a simplified version of worksheet to calculate estimated tax available in the upcoming release. 

[vscpanm]

Thank you so much. The form is absolutely necessary to complete the return. 

[taxes96786]

Is it an S Corp or a C Corp?

[vscpanm]

C. There has never been a need for estimated payments in an S-corp.

[thompson]

and when will this be?

[thompson]

It is NOT in the update. come on Lacerte.......

[vscpanm]

I know right? big update this morning and still nothing. 

[thompson]

still nothing in today's.  have I missed something?

[adam_cpa]

This was fixed in an update late last week.  There is now an estimated tax worksheet.

[thompson]

not in lacerte. I just downloaded the entire program again.

[adam_cpa]

This entire post is a ProSeries discussion.  Perhaps you should check the Lacerte community discussion board.

[thompson]

my apologies.

[vscpanm]

I had given up. Thanks adam_cpa. 

[KDJ CPA]

Will there be a way to set these payments to be drafted automatically each quarter?