Corduroy Frog Posted February 9, 2024 Report Posted February 9, 2024 Has probably been asked before, but the board is very active these days. What about the well-publicized change for more "Additional" Child Tax Credit and 100% Bonus Depreciation? Has this happened yet? I'm holding a couple tax returns waiting, and for Drake to update when it does... Thanks, Quote
BulldogTom Posted February 9, 2024 Report Posted February 9, 2024 Passed the house. Senate has not voted yet. Tom Longview, TX Quote
Lee B Posted February 9, 2024 Report Posted February 9, 2024 As far as the CTC you can go ahead and file. If the bill passes, the IRS will make any adjustments internally and issue any additional refunds due. Very similar to how unemployment compensation was handled several years ago. 1 Quote
mcb39 Posted February 9, 2024 Report Posted February 9, 2024 We have filed several already and alerted all clients. Until they give us some guidance, we are not letting our clients wait for legislation and then updates to software before they can file. Quote
BulldogTom Posted February 9, 2024 Report Posted February 9, 2024 41 minutes ago, mcb39 said: We have filed several already and alerted all clients. Until they give us some guidance, we are not letting our clients wait for legislation and then updates to software before they can file. What are you doing about R&D amortization? I am probably going to extend my one corp that has this issue. Tom Longview, TX Quote
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