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When is Intuit software going to be ready for the $10,200 unemployment exclusion

IRonMaN
Level 15

There - we got it out of the way.  Hopefully that cuts down on a couple of thousand posts.  

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IntuitAustin
Intuit Alumni

Great question @IRonMaN

While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available. 

For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.

Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community. 


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BobKamman
Level 14

Isn't it odd that IRS now has a "Chief Taxpayer Experience Officer," but Intuit doesn't have anyone to send a short email to all customers to tell them, "We're working on it." ?

IRonMaN
Level 15

I believe they are debating whether the "e-mail team" or the "we're working on it team" is responsible for that message.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
BobKamman
Level 14

But they do have a page that was last updated a week ago.  Too bad it doesn't even mention tax exclusion for unemployment.

IntuitAustin
Intuit Alumni

Great question @IRonMaN

While we await President Biden's signature on the American Rescue Plan, we are monitoring the situation very closely and will provide updates as they are available. 

For the latest and greatest, check out our COVID-19 Resource Center, our Tax Pro Center post about the American Rescue Plan, or the Tax Law and News on the Tax Pro Center.

Of course we will also post any relevant product updates here in the Accountants Community under the News & Updates sections in the community. 


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BobKamman
Level 14

That's Rescue, not Resuce

IntuitAustin
Intuit Alumni

@BobKamman wrote:

That's Rescue, not Resuce


Thanks Bob, I must of forgot how to spell Rescue for a second 😜


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IRonMaN
Level 15

"Great question"

Yeah, it appears to be based on it being posted at least once every hour here 😢

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
UNINTENDEDACTOR
Level 2

It makes sense ..this is happening in real time..therefore preparers should either wait or amend later .... as we wait to receive guidance and or changes from IRS and software company. 

rbynaker
Level 11

@IntuitAustin 

At the top of the ProSeries channel (or whatever you call sub-forums) is a link that says "For the latest information on the American Rescue Plan, please check here".  The link is to an article last updated on 3/4/21.  Not exactly the "latest" info . . .

me112233
Level 3

It's the latest info Intuit has for us.  They schedule their programmers and tax experts for vacations this time of year, as is customary for office (cubicle) workers in Cambodia.

asitax15
Level 3

So when is the update coming now??? Are we just suppose to sit on returns with Unemployment benefits and let them pile up?  Even thought they are ALL calling us wanting to know if we exempted their $10,200 and when will their returns be ready?? 

Also, what about returns in Louisiana (where I am at), Texas, Oklahoma, etc., that now have until June 15th to file returns, pay estimates, etc.?????  Letters in Lacerte still say, March 15th (s-corps/partnerships) and April 15th.

Come on guys, what are you doing there??? We're just sitting here waiting.......

me112233
Level 3

But the IRS has already issued guidance.  The exempt amount of unemployment is to be entered as a negative number on line 8 of Schedule 1.  (Full amount of unemployment received is to be entered on line 7 as per normal.)

Intuit ought to have already had that easy fix fixed.

Now for the tricky part -- how are you going to fix the Kentucky tax returns, as Kentucky has NOT exempted any of the unemployment from taxation, yet Kentucky uses the AGI from the 1040 as the first number entered on the form.

 

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asitax15
Level 3

Agreed.  We are in the tricky part too here in Louisiana - not exempted here yet either. 

But our due dates here were changed a week ago to June 15th because of the winter storms and that still has not been updated either.

So I guess all of this just caught Lacerte completely unaware??? They weren't watching all of this in anticipation of making changes??

me112233
Level 3

The ONE job a tax software vendor has is to make sure their software stays valid.  I was working on my first partnership for the year, print the thing out, and the $$-amounts are printing on the wrong line numbers on the Kentucky version of the partnership return.  They are on the right line on the screen, but not on the printed copy.  No telling where that number will go when it is time to e-file.

And of course, nobody at intuit is working today.

IRonMaN
Level 15

Have you tried printing to a pdf to see if that makes any difference?  It's been a wonky year for printing and sometimes the pdf printing solves problems.  It may not in your case, but it's worth a try.

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me112233
Level 3

Nope, not tried that.  My ultimate concern is that the e-file will be messed up, too.  Instead of stating the total (of all the above lines) is X, the printed-out form says the late payment penalty is X, and leaves the line where the total goes, blank.  Each partner gets a copy of that.  Makes me look bad when things like that happen.

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TAXATION
Level 3

What are you saying?  To what post are you replying ?

 

 

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IRonMaN
Level 15

Look above your previous post

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TAXATION
Level 3

Thought this “IntuitAustin” said to “ask a question” and they reply!

Is that generated email in the software that takes one to a site with no response?

 

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TAXATION
Level 3

Intuit Austin - March 15 - any news on an update to the software - thank you

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dkh
Level 11

If only.....seems everyone knows how to post a question but no one can read what has already been asked !!!   Makes me crazy

IRonMaN
Level 15

Why is this marked as solved?  I didn't mark it as solved, but yet it is marked as solved.  Have I been deemed to not be bright enough to know when a post solves my problem?  I know the anvils have taken their toll but I don't think I am quite that brain damaged yet.  

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
TheShyTaxLady
Level 2

I guess it's "solved" for now... we'll have to ask again tomorrow. 😁

IRonMaN
Level 15

I'm sure we will 😀

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)