Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

new unemployment law

Budmeister
Level 1

Asking how others are handling on the tax input the new $10,200 credit for unemployment forgiveness?  Just subtracting from total received?  or is proseries or IRS having an up date with a new schedule?

Labels (1)
0 Cheers
5 Replies 5
dascpa
Level 8

How about waiting for IRS to finalize it, and then all the software companies to update their software.  Days to weeks to months. Do it your own method and risk future problems.

dascpa
Level 8

We are all aware of this as it's been posted on this board many times. Does not change my last post. Wait until ProSeries and the 43 states figure out how it's being handled.

wallacedk
Level 2

I hear you.  However, if the return is calculated and documented correctly per the IRS guidance for paper filers, and the are no state tax implications for the client, then you should be safe filing the return.  

0 Cheers
dascpa
Level 8

It's your tax practice. Do what you want.  I have been preparing taxes for 39 years, before we had computers doing this.  My suggestion is to wait until ProSeries updates their software.