TaxACT 2005 Software Update Information
TaxACT Federal Version 1.4 Updates (Released 3/23/2006)
For Standard, Deluxe, and Preparer's 1040
Form Update:
- Form 2210 - Underpayment of Estimated Tax by Individuals - Updated relief extension through August 28, 2006 for certain victims of Hurricane Katrina.
TaxACT Federal Version 1.3 Updates (Released 2/22/2006)
For Standard, Deluxe, and Preparer's 1040
Form Releases:
- Form 8903 - Domestic Production Activities Deduction
Form/Schedule Updates:
- Form 1040 - U.S. Individual Income Tax Return - Correction for the calculation of the Child Tax Credit calculation for non-custodial children
- Form 1040-ES - 2006 Estimated Tax Worksheet - Incorporated new IRS rules on determining the phase-out of personal exemptions based on adjusted gross income
- Form 2210 - Underpayment of Estimated Tax by Individuals - Updated penalty rate calculations for victims of Hurricane Katrina.
- Form 6251 - Alternative Minimum Tax - Corrected the calculation for the required MACRS depreciation preference in the years of AMT life in excess of the MACRS life where prior AMT depreciation was imported from 2004
- Schedule EIC - Earned Income Credit - Corrected the qualification determinations for disabled dependents.
Electronic Filing:
- Provide access to the Self-Select PIN for HSBC Bank Products (Prep Edition Only)
TaxACT Federal Version 1.2 Updates (Released 1/31/2006)
For Standard, Deluxe, and Preparer's 1040
Form Releases:
- Form 2210 - Underpayment of Estimated Tax by Individuals
- Form 8271 - Investor Reporting of Tax Shelter Registration Number
- Form 8379 - Injured Spouse Allocation
- Form 8606 - Nondeductible IRA's
- Form 8609A - Annual Statement Low-Income Housing Credit
- Form 8801 - Credit for Prior Year Income Tax
- Form 8863 - Education Credits
- Form 8915 - Qualified Hurricane Katrina Retirement Plan Distributions and Repayments
TaxACT Federal Version 1.1 Updates (Released 1/18/2006)
For Standard, Deluxe, and Preparer's 1040
Form Releases:
- Form 3800 - General Business Credit (Print Only)
- Form 5329 - Additional Taxes on Qualified Retirement Plans
- Form 6251 - Alternative Minimum Tax
- Form 8271 - Investor Reporting of Tax Shelter Registration Number (Print Only)
- Form 8606 - Nondeductible IRA's (Print Only)
- Form 8863 - Education Credits (Print Only)
Form Updates:
- Form 1040 - Correction for the calculation of the Child Tax Credit Calculation for non-custodial children
Electronic Filing:
- Provide access to the Self-Select PIN for HSBC Bank Products (Preparer's Edition only)
