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FTAX
Level 5
August 1, 2023
New

Please give us the option to TURN OFF AUTO ESTIMATED TAX calculations

Related products:ProSeries
  • August 1, 2023
  • 8 replies
  • 7 views

It is a regular nuasance having to discard client letters with estimated tax instructions when the client is not going to make them.  It is easy to for get to override it ever single time on individual returns, especially in the cases where the client doesn't even owe money but, based on the 10% rule, the software assumes the client will make 10% more, but assumes their w-2 withholding will be identical.  The software even calculates estimated payments for deceased taxpayers and for taxpayers requesting payment plans.  

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8 replies

Level 6
August 1, 2023

On the 1040-ES Worksheet just mark the box to NOT calculate estimated payments. Problem solved.

FTAX
FTAXAuthor
Level 5
August 1, 2023

That does NOT solve the problem. It requires the box be checked on every return.

Accountant-Man
Level 13
August 2, 2023

Yep, it also requires tax professionals to know what they're doing.

** I'm still a champion... of the world! Even without The Lounge.
Accountant-Man
Level 13
August 2, 2023

When I am reviewing a return, I look at the forms listed in the "Forms in Use" list. If I see the 1040ES Worksheet, I check it out.

I, too, object to a client who is receiving a refund from W2 wages but whose 110% ES calculation shows he would owe estimates, but really doesn't.

But I always review the return, too.

** I'm still a champion... of the world! Even without The Lounge.
FTAX
FTAXAuthor
Level 5
August 3, 2023

Actually a 'tax professional' who knows what they are doing would know when estimated taxes are needed to be calculated and when they do not. If you are relying on the tax software to inform you when estimated taxes are required, you probably need more education. All the automatic 'feature' does is waste time in having to regularly click the bottom to prevent the software from calculating the estimated tax, which it does poorly anyway.

I wouldn't give a **bleep** about it if it didn't impose it's estimated tax suggestions on the client letter when I forget to check the box to override it.  I am not the only only who has this issue, I regularly see returns prepared by other preparers with client letter recommending estimated taxes be paid and ALWAYS with idiotic, non-rounded off amounts.  

I am not asking for the feature to be removed, just for the option to turn it off.  Perhaps you like estimated taxes being calculated for deceased clients, people requesting payments plans, people who had a one-time capital gain or cashed an IRA prematurely, or maybe you find it helpful when the client letter instructs a w-2 person with $450,000 income and a $5,000 refund that then need to make quarterly federal of $1,057, but it is just stupid and has zero benefit.

Accountant-Man
Level 13
August 4, 2023

A) I always review the letter before I print it. When I see estimates that I know that I don't need, I go check the 1040ES box to "Do Not Print." Then the letter changes and the estimates page are no longer printed.

B) Just like the Global default option to "round" estimates to $10 or $100 for federal estimates only (no such global option for states), perhaps you can make a suggestion that there be a Global option to force no estimates.

I don't agree with this way to go, but it could be done. I don't recommend doing it, though.

Don't hold you breath waiting for any suggestions, though.

** I'm still a champion... of the world! Even without The Lounge.
Skylane
Intuit Community Champion
August 6, 2023

You can edit the client template on a global basis (for NEW clients)...

From Homebase Go to tools/edit client template...  select the form (i.e. 1040) then navigate wherever you want.... form ES worksheet and select do not calculate and save....

This only seems to work when creating a new client. I think you have to change  the election in existing clients so that they transfer to next year as you want.  At the start of each season, I generally review the default client elections and change them as appropriate for my practice. 

 

If at first you don’t succeed…..find a workaround
FTAX
FTAXAuthor
Level 5
August 7, 2023

This is a good point, but I'm past the point of accepting new clients and only do a few dozen new ones each year now.