Dear Lacerte Customer,
This email is to inform you of an update to the 2002 Massachusetts
program to assist any preparers who may have clients that filed a
2002 Massachusetts Individual return. We are providing this
information to all of our users in case you prepare Massachusetts
returns, regardless of your location.
For Massachusetts taxpayers, a recent law changed the effective date
of a tax rate increase on capital gains in the 2002 tax year.
Taxpayers who filed a 2002 MA Form 1 including a MA Schedule D with
capital gains incurred between 5/1/02 and 12/31/02 may be entitled to
a refund. The Lacerte 2002 MA program has been updated with the
capital gains tax rates (from 5% to 0%) restored for dispositions
occuring after 4/30/02. This update will be available via Internet
Update only, beginning 3/06/06. The 2002 update to the MA program
will recalculate the Schedule D using the graduated capital gains tax
rates for the entire year. No adjustment to dates of disposition or
acquisition is necessary.
The MA Department of Revenue is strongly recommending the completion
of the online 2002 Income Adjustment Form for Capital Gains. Returns
submitted via mail without this form run the possibility of rejection
due to the projected volume of requested refunds. The DOR will
accept an online 2002 Income Adjustment Form completed by a tax
preparer with a signed Power of Attorney for the taxpayer. If this
form is completed online, no submission of a completed CA-6,
Application for Abatement/Amended Return, or revised 2002 Schedule D
is required. The online abatement request can be submitted at
https://wfb.dor.state.ma.us/WebFile/...002/Index.aspx.
Sincerely,
Lacerte Software
This email is to inform you of an update to the 2002 Massachusetts
program to assist any preparers who may have clients that filed a
2002 Massachusetts Individual return. We are providing this
information to all of our users in case you prepare Massachusetts
returns, regardless of your location.
For Massachusetts taxpayers, a recent law changed the effective date
of a tax rate increase on capital gains in the 2002 tax year.
Taxpayers who filed a 2002 MA Form 1 including a MA Schedule D with
capital gains incurred between 5/1/02 and 12/31/02 may be entitled to
a refund. The Lacerte 2002 MA program has been updated with the
capital gains tax rates (from 5% to 0%) restored for dispositions
occuring after 4/30/02. This update will be available via Internet
Update only, beginning 3/06/06. The 2002 update to the MA program
will recalculate the Schedule D using the graduated capital gains tax
rates for the entire year. No adjustment to dates of disposition or
acquisition is necessary.
The MA Department of Revenue is strongly recommending the completion
of the online 2002 Income Adjustment Form for Capital Gains. Returns
submitted via mail without this form run the possibility of rejection
due to the projected volume of requested refunds. The DOR will
accept an online 2002 Income Adjustment Form completed by a tax
preparer with a signed Power of Attorney for the taxpayer. If this
form is completed online, no submission of a completed CA-6,
Application for Abatement/Amended Return, or revised 2002 Schedule D
is required. The online abatement request can be submitted at
https://wfb.dor.state.ma.us/WebFile/...002/Index.aspx.
Sincerely,
Lacerte Software