17049: 2021.01.13 - Drake20 Updates

Alaska Update 1

• Corporation and S Corporation Packages:
  • Under AS 43.20.053, the credit for adjustments for in-state oil refinery expenditures that previously flowed to line 4f has been removed from Schedule H of Form 6000, Alaska Corporation Net Income Tax Return. No calculations are affected by this update.
  • Data no longer flows from lines 16 and 36 to Forms 6328 and 6323.
  • A calculation error has been resolved on line 24 of Form 6300. Returns that included line 24 and were calculated prior to this update should be reviewed.
• Partnership Package:
  • Credits no longer flow from Forms 6310 and 6324 to lines 4, 7, and, 19 of Form 6900. No calculations are affected by this update.
  • Credits to longer flow from Forms 6310 and 6324 to lines 4, 7, and 19 on Form 6900. No calculations are affected by this update.

General Update 1

• General program updates.

1040 Update 8

• A program update prevents a parse error on Form 8615. [IRS8615]
  

Maryland Update 2

• S Corporation and Partnership Packages:
  • A watermark was added to Form 510, Pass-Through Entity Income Tax Return. A future update will remove the watermark when the form is no longer under development.
    

Maine Update 3

• Fiduciary Package:
  • An EF Message is now generated when the beginning fiscal-year date entered on federal screen 1 is not within the calendar year of the tax return. For example, for a 2020 tax return, the beginning fiscal-year date cannot be after 12/31/2020. This update is per business rule ME1041-012: "Tax Period Begin date should be less than Tax Period End Date; Tax Period Begin date year should equal Return Header tax year."
• Corporation Package:
  • The calculation of Form 1120ME, Maine Corporate Income Tax Return, Schedule D, Minimum Tax Credit, line 1b, "Regular income tax liability for 2020," has been updated. The amount on this line is calculated by subtracting all Schedule C credits except the minimum tax credit from Form 1120ME, line 6a, "Maine corporate income tax."
  • The information included in the 2D barcode included with Form 1120ME, Maine Corporate Income Tax Return, has been updated.
  • Line 9 of ME screen 2, Pages 1, 2 and 3 has been adjusted so that it is fully
    
• S Corporation and Partnership Packages:
  • Form 941P-ME, Pass-Through Entity Return of Maine Income Tax Withheld from Members, has been approved for printing.
  • The TIN printed on Form 941P, Schedule 2P and Schedule 3P, has been updated If the TIN is marked as being an EIN, it will be printed in the format XX-XXXXXXX. If it is not marked as being an EIN, it will be printed in the SSN format: XXX-XX-XXXX.

Mississippi Update 1

• Corporation, S Corporation, and Partnership Packages:
  
  • MS business packages have been approved for e-file.
• Partnership Package:
  • MS screen 2 no longer requires entries in the following fields when "Dissolving MS partnership" is selected: "New company/owners" "Address" "City, State, ZIP" "FEIN" "Phone"

General Update 6

• RRC (Recovery Rebate Credit), EIP1 (Economic Impact Payment 1), EIP2 (Economic Impact Payment 2), and Virtual Currency now available as columns in Reports>Report Manager.
  

Tennessee Update 1

• Individual, Corporation, S Corporation, and Partnership Packages:
  • Page 8 of Form TN170, Franchise and Excise Tax Return, has been approved
    

Utah Update 3     

• All Packages:
  • Direct debit and direct deposit transactions are now approved for e-file. An EF Message preventing e-file of financial transactions has been removed from the program.

Vermont Update 1

• Corporation, S Corporation, and Partnership Packages:
  • VT Corporation, S Corporation, and Partnership packages have been approved for e-file. 
• Corporation Package:
  • The following forms and schedules have been approved by the state:
    • Schedule BA-402, Apportionment & Allocation
    • Schedule BI-472, Non-Composite Schedule
    • Form WH-435, Estimated Payment Allocation

West Virginia Update 1

• Individual Package:
  • The WV Individual package has been approved for e-file.
  • Watermarks have been added to returns that include Schedule AFTC-1, Alternative-Fuel Tax Credit. This schedule is still in development and is not yet eligible for e-file.
  • EF Message 0060 is no longer generated.
  • Two Return Notes have been added due to WV decoupling from the federal CARES Act, generated when:
  • Amounts have been added back to line 53, "Other income deducted from federal adjusted gross income...," of Schedule M (Form IT-140), Modifications to Adjusted Gross Income.
  • Amounts are present on Schedule A (Form IT-140), Nonresidents/Part-Year Residents Schedule of Income.