17814: 2022.08.25 - Drake21 Updates

Arizona Update 41

• Corporation Package:
  
  • Line 21, "Tax liability," column C, on AZ Form 120X, Arizona Amended Corporation Income Tax Return, is now calculated as intended.
• Partnership Package:
  
  • The apportionment ratio has been updated for line 2, "Net income (loss) from rental real estate activities," column B, on AZ Form 165 Schedule K-1 (NR), Arizona Nonresident and Out-of-State Partner's Share of Income and Deductions.

1040 Program Update 56

• The interest rate for the penalty calculation on late payments for the 4th quarter has been updated in accordance with IRS Rev. Rul. 2022-15.
  

Indiana Update 26

• Partnership Package 
  
  • The "Apportionment Percentage" from line 9 of Schedule E, Apportionment of Income for Indiana, will now flow as intended to line 4 of Form IT-65, Indiana Partnership Return, when negative amounts are entered on lines 6 and 8 of IN screen E.

Montana Update 30

• Fiduciary Package:
  
  • EF Message 0125 has been added to prevent reject "DRKPARSE" on element "invalid datatype" when a negative value is entered on line 13, "Other additions to income and adjustments," column A or B, on MT screen 6.
  • The following issues have been resolved when EF Messages 0039 and 9450 are present for MT FID-3 returns:
  • A green check mark is no longer displayed in the "EF Status" column of the Calculation Results window.
  • "MTFID3" is no longer indicated as being transmitted on the federal EF Transmission Status page ("1041EF" in View/Print mode).

1065 Program Update 44

• Guaranteed payments will now be allocated by country on line 24, "Total gross income," Part II, Section 1, of Schedule K-3.
  

Federal Program Update 48

• General program update.
  

1120 Program Update 37

• Interest rates used for the computation of the underpayment penalty on Form 2220 have been increased for the calendar quarter beginning July 1, 2022. The rates are:
  • 5% for underpayments
  • 7% for large corporate underpayments
• Interest rates used for the computation of the underpayment penalty on Form 2220 have been increased for the calendar quarter beginning October 1, 2022. The rates are:
  • 6% for underpayments
  • 8% for large corporate underpayments

1120S Program Update 43

• Interest rates used for the computation of the underpayment penalty on Form 2220 have been increased for the calendar quarter beginning July 1, 2022. The rates are:
  • 5% for underpayments
  • 7% for large corporate underpayments
• Interest rates used for the computation of the underpayment penalty on Form 2220 have been increased for the calendar quarter beginning October 1, 2022. The rates are:
  • 6% for underpayments
  • 8% for large corporate underpayments

South Carolina Update 16

• S Corporation Package
  • Amounts entered on line 6, "Amount withheld," on SC screen WH will now flow as intended to line 6 on SC Form SC1120S-WH, Withholding Tax on Income of Nonresident Shareholders.

990 Program Update 32

• An update allows PDFs to be attached to 990-T returns. Any PDFs currently required for a 990, 990-EZ, or 990-PF return must now be attached to 990-T returns.