Does anyone know if New York state is allowing the deduction for Unemployment Compensation
Thanks
Brian
Thanks
Brian
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Everybody should pay his income tax with a smile. I tried it, but they wanted cash -
It's an add back for NYS. MY program, Ultra Tax, just release it's update today. Been keeping me busy all day getting my back log filed.This post is for discussion purposes only and should be verified with other sources before actual use.
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Bob, I used Drake Software and it allows the deduction. I did this after I posted this threadEverybody should pay his income tax with a smile. I tried it, but they wanted cashComment
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Yes it was confusing in the beginning but when I looked at IT-558 there it was, all by itself.This post is for discussion purposes only and should be verified with other sources before actual use.
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It is a bit confusing. The bill was introduced separately and then they tried to add it as an amendment to the budget bill which was voted down.
I have no idea if they plan to vote on it separately at some point but it does not look good.DougComment
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You are absolutely correct. NY did add it back on the IT-588. The exclusion from the Federal return increased the NY Income percentage thus reducing NY tax liability. The difference is $18. It costs more to amend the return.; so I will let the client pay the additional $18. No need to touch that state return.Everybody should pay his income tax with a smile. I tried it, but they wanted cashComment
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There are two or three NY bills that might address unemployment, but they're all sitting in committee. I have three trusts and some ES calculations with 15 April due dates, but then I think I'll stop holding returns with NY unemployment.Comment
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Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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I have now submitted 35 of my 55 NYS UI returns and still processing....
If passed, let NYS self process the refunds like IRS is doing.This post is for discussion purposes only and should be verified with other sources before actual use.
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The bills have been in committee since the IRS change. I don't know how fast the NY legislature moves; maybe you can tell me. I have some April returns to do but then am getting my NYers off my desk.Comment
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I haven't heard anything about NYS change of heart, I doubt any change is going to happen.This post is for discussion purposes only and should be verified with other sources before actual use.
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I am starting to e-file returns with UI and PTC repayment this weekend. I just can't sit on them any longer. My pile is a mile high! I agree with Bob if these non conforming states have a change of heart due to voter protests let the state DOR correct the returns and issue refunds. Voters should hold the lazy legislators feet to the fire IMHO!Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDRComment
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"You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
"That's enough! When you didn't know what you were talking about, you really had something! [to Curly]" -Moe HowardComment
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