17390: 2021.09.29 - Drake20 Updates

Iowa Update 37

• Individual 
  • EF Message 0061 was updated to keep a parse error for element "FormIA123 'IA Net Operating Loss (NOL) Schedule,'" from occurring. Question A in the "Taxpayer Elections" section of IA screen NOL must be answered. 

New York Update 37 

• Corporation, S Corporation, Estate, and Tax-Exempt Packages:
  • Certain tax filing and payment deadlines occurring during the period beginning on or after September 15, 2021, and ending on or before October 2, 2021, have been extended to December 14, 2021, for those impacted by Hurricane Ida.
  • For New York State returns or payments, the check box to extend the deadline can be found on screens:
        - NY screen 1: CT-3: General Business Corporation Franchise Tax Return (1120 package)
        - NY screen 1: CT-3-S: General Information (1120S package)
        - NY screen 1: General Information (990 package)
  • For those impacted by Ida, this check box extends the due date for any estimated payment or return originally due September 15, 2021 to December 14, 2021.
  • For NYC filers, special condition code "ID" must be entered on the following NYC screens:
        - NYC screen 3L1: NYC3L: General Info & Computation of Tax (1120S package)
        - NYC screen 101: NYC-2: General Information & Computation of Balance Due (1120 package)
  • While late payment and late filing penalties are waived, NYC requires that interest on any underpayment still be calculated from the original due date to the date of the payment.
• S Corporation and Corporation Packages:
  • The correct amount of annualized NY receipts is now displayed on page 3, line 1c, of Form CT-3, General Business Corporation Franchise Tax Returns, for short-period returns.
• Individual, Partnership, and Fiduciary Packages:
  • Certain tax filing and payment deadlines occurring during the period beginning on or after September 15, 2021, and ending on or before October 2, 2021, have been extended to December 14, 2021, for those impacted by Hurricane Ida.
  • For New York State returns and or payments, the check box to extend the deadline can be found on screens:
        - NY screen MISC: Miscellaneous Information (1040 package)
        - NY screen 1: 204 - Partnership Information (1065 package)
        - NY screen 1: IT-205 - General Information (1041 package)
  • For those impacted by Ida, this check box extends the due date for any estimated payment or return originally due September 15, 2021 to December 14, 2021.
  • For NYC filers, special condition code "ID" must be entered on the following NYC screens:
        - NYC screen 2022: 202/202S - Business Information and Prepayments (1040 package)
        - NYC screen 204A: NYC204/EZ - General Info and Computation of Tax (1065 package)
        - NYC screen C1: NYC 202EIN - General Information (1041 package)
  • While late payment and late filing penalties are waived, NYC requires that interest on any underpayment still be calculated from the original due date to the date of the payment.