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18366: 2024.01.09 - Drake23 Updates


Drake Tax Update Notes

2024.01.09 - Drake23 Updates

 

General State Programming Update 1

  • Iowa:
    • Individual, Corporation, S Corporation, Partnership, and Fiduciary Packages:
      • The following items have been updated in Setup > Pricing:
        • IA 1040
        • IA 1041
        • IA 1065
        • IA 1120
        • IA 1120S
        • IA PTE-C
  • Missouri:
    • Individual Package:
      • The following items have been added to the Setup > Pricing:
        • MO Form 5955
        • MO Form MO-WFTC
  • Montana:
    • S Corporation and Partnership Packages:
      • MT Form PTE Flow-Through Payment Attachment (MTFT AT) has been added to MT Form PTE (Partnership and S Corporation packages)
  • Ohio:
    • Individual, Corporation, S Corporation, Partnership, Fiduciary, Estate, and Tax-Exempt Packages:
      • New taxing localities have been added to the OH City drop lists for tax year 2023.

Federal Program Update 2

  • General program update.

706 Program Update 2

  • The following fields have been added to the program:
    • "Preparer signature date override" on screen DEMO
    • "Representative signature date override" on screen 2

1041 Program Update 2

  • The following forms have been approved, and the watermarks have been removed:
    • Form 1045
    • Form 8949

1040 Program Update 3

  • EF Message 0137 has been updated, preventing reject "DRKPARSE" on element "CareProviderGrp."
  • The following forms have been approved and the watermarks have been removed:
    • Form 1045
    • Form 8949
    • Form W-9
  • An update prevents reject "DRKPARSE" on element "BusinessNameLine1Txt" regarding Form 7203.

Michigan Update 1

  • Individual Package:
    • Form CF1040PV has been activated for use in making tax payments due the city of Muskegon Heights.
  • Corporation and S Corporation Packages:
    • Form CF-1120 and all supporting schedules have been approved for printing.
    • City abbreviation and city name will now be printed in the spaces provided on page 1 of the East Lansing Form CF-1120.
    • Payment voucher 1120PV has been added as a payment type for Walker and East Lansing balance due tax returns, per city instructions.

1065 Program Update 2

  • The following forms have been approved and the watermarks have been removed:
    • Form 8949
    • Form W-9
  • Per recent IRS guidelines, "FOREIGNUS" is no longer a valid ID number for partners and shareholders on Schedule K-1. As a result, an EF Message is now produced when an ID number of "FOREIGNUS" is entered on screen K1 (Partnership package) or K1E (S Corporation Package), preventing reject "DRKPARSE" on element "MissingSSNEINReasonCd."
  • The effective date entered on line E, "Election to be effective for tax year beginning," of screen 2553 is now produced as intended on line E of Form 2553.

General Program Update 2

  • The QuickBooks Import feature is now available.

1120 Program Update 2

  • The character limit has been increased for the preparer's name and signature lines of Form 1120-H.
  • The following forms have been approved and the watermarks have been removed:
    • Form 8949
    • Form W-9

1120S Program Update 2

  • The following forms have been approved, and the watermarks have been removed:
    • Form 8949
    • Form W-9
  • The codes for boxes 10, 12, and 13 of Schedule K-1 have been updated per the latest draft of the IRS instructions.

990 Program Update 2

  • Form W-9 has been approved, and the watermark has been removed.

Virginia Update 1

  • Corporation, S Corporation, and Partnership Packages:
    • VA corporate and pass-through entity tax returns can now be e-filed.
  • Individual Package:
    • Print alignment has been adjusted for line 8e, "Add lines 8a - 8c," of VA Schedule A/CG.

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