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Correcting a program error

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Correcting a program error

I have been using ProSeries since it was owned by ChipSoft, despite its failure to treat professional tax preparers appropriately.  There is apparently an error in the 2020 program that limits the SEP deduction to $56,000 (the 2019 maximum).  According to the IRS website, the maximum for 2020 is $57,000:

SEP Contribution Limits (including grandfathered SARSEPs)
Contributions an employer can make to an employee's SEP-IRA cannot exceed the lesser of:
1. 25% of the employee's compensation, or
2.$57,000 for 2020 and $58,000 for 2021 ($56,000 for 2019)

I spent 45 minutes trying to do this on the phone with Intuit, but was told that I had to submit an "idea". Is trying to correct an apparent error an idea?

For years I have been lobbying to have a separate phone number for tax professionals, many of which, like myself, would be willing to pay for the service, rather than spend endless amounts of time waiting to speak to someone who, frequently, is not capable of answering a complex question.  Okay, that's an idea!

 

Status: New
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9 Comments
Level 15
Level 15

The 2020 program isnt fully functioning yet, give it a few updates to get things updated to 2020 amounts/limits.

Level 15

I'm sure there are many other errors in the 2020 software at this point (11/19/20).

Employee
Employee

I'm sorry for your experience, and appreciate that you've posted here. I'm following up with the teams responsible for these areas to ensure this is fixed.

We're also working on the ability to allow you to request a callback from care agents directly from within the product - so you won't have to wait on the phone. That should be ready by the January release, but might get in for the December release. I think it will also let you know how long the wait is.

Level 1

In my original post, I should have indicated that I was referring to those who use "professional" vs those that use "basic".

Level 13

That's strange; this does seem to show as a topic in the listings for this entire section.

Employee
Employee

Closing the loop.. the Business Form Team says they are up to date. The Individual Form Team has not updated these thresholds yet for 2020, but know they need to.

Level 15

Oh wah, oh wah, oh wah, oh wah, oh wah, oh wah
Why do fools fall in love?

And Oh wah, oh wah, oh wah, oh wah, oh wah, oh wah 

Why does Intuit release software so early when they know they are missing "thresholds" and other kinda important stuff?

Level 15

Umm because then they can advertise how EARLY they released the software.  And they don't bother to put in the small print that even tho released, it's only 10% functional?

Level 15

Kinda like Tesla demonstrating how unbreakable their windows were -------------------------- unless of course they were actually hit by something?

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