Terry O Posted January 22, 2013 Report Share Posted January 22, 2013 Ok - -we all have clients that need to "guestimate" their 2012 tax liability by 1/15/13. When I used the 2011 planner for 2012 - -a few clients had a very large AMT tax included in their 2012 estimate. I KNOW that the laws changed very late in 2012 - -so don't jump on me yet please! When I FINALLY was able to roll over a couple of them yesterday and today - - - the difference was a staggering $8000 - -$5000 and $4000!!!! A HUGE difference in the amount needed for estimated tax purposes - -but it came to late. THIS is the reason we pay the $$$$ for - - -this is what keeps clients coming back - -the ability to not only prepare current tax years, but to help them plan for the future. So, while I realize that the tax law had changed very late in the year (don't know how many times I am going to have to repeat this), but I am still disappointed in the slowness of the 2012 program, in opening up clients, imputing numbers and overall sluggishness. My 2 cents. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted January 22, 2013 Report Share Posted January 22, 2013 Do you have the 2011 program set up to update automatically? My planner did, and has the new info in it. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted January 22, 2013 Report Share Posted January 22, 2013 Joan, does your planner have the updated AMT exemption amounts? I just ran an update of 2011 a few minutes ago and my planner still has the old amounts. I didn't think ATX was updating the 2011 program any more now that 2012 has been released. The AMT was an issue for many of my planning clients too. ETA: my 1040 planner form is version 22. Quote Link to comment Share on other sites More sharing options...
joanmcq Posted January 23, 2013 Report Share Posted January 23, 2013 Ooops, you are right, the exemption isn't updated. My bad. In the past, with the patches, I've just overridden the exemption amount until the update came and it's worked fine. My 2011 does update every now and then when I open it. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted January 23, 2013 Report Share Posted January 23, 2013 I've always done overrides for the exemption each year too. With your post though, I thought maybe I'd missed something. At least the AMT exemption will be a known amount from now on. Quote Link to comment Share on other sites More sharing options...
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