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16918: 2020.10.07 - Drake19 Updates


Drake19 Update Notes

2020.10.07 - Drake19 Updates

 

Federal Update 48

  • The filing instruction for Form 709, United States Gift Tax Return, will now state the correct due date when Form 1040 extensions are filed.

Massachusetts Update 21

  • Individual Package:
    • EF Message 0343 is now generated when "FRMFSH" is selected from the "Credit Type" drop down list on MA screen CMS and the "Period End Date" is not valid.

1065 Update 51

  • General program updates.

Oregon Update 37

  • Individual Package:
    • The following OR forms, when e-filed with electronic ACH payments, will now retain the "Date of Debit" date on the federal Transaction Summary report after OR acceptance, as intended:
      • Form OR-40, Individual Income Tax Return for Full-year Residents
      • Form OR-40-N, Individual Income Tax Return for Nonresidents
      • Form OR-40-P, Individual Income Tax Return for Part-year Residents

General Update 64

  • Blank proforma forms will now be displayed as expected under Tools >Blank Forms. Prior to this update, proformas were not available.

1120 Program Update 46

  • Any payments entered in the “Amount paid” fields of the "State and City Section" on screen ES, (available from the "Miscellaneous" tab of the Data Entry Menu) now flow automatically to line 17, "Taxes and Licenses," of Form 1120. Prior to this update, the program did not take into account fiscal-year returns that included payments in tax year 2020 year and included only those payments entered for tax year 2019.
  • Preparers can now waive the NOL carryback period by selecting "46" from the "Election" drop list on screen ELEC. This election, pursuant to Rev Proc. 2020-24 as part of the CARES Act, automatically creates the required statement without need of further data entry. The literal that had been printed on Form 1139 due to the end of the applicability period of that election (Notice 2020-26), will no longer be produced.

1120S Update 46

  • General program updates.

990 Program Update 31

  • General program updates.

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