Update on Retroactive Tax Provisions

Yesterday the IRS released their most current updated schema and business rules for the electronic filing and processing of 2017 tax returns. Unfortunately, the updated schemas and business rules dated February 15, 2018, do not include any schema changes related to the Bipartisan Budget Act of 2018 which retroactively reinstated over 40 tax provisions that had expired.

TaxSlayer Pro will implement these changes into the program as soon as the specifications become available.  Unfortunately, TaxSlayer Pro, all other Software Developers and State Program Developers that are impacted have to wait until we receive the schemas and business rules from the Internal Revenue Service. Otherwise, the returns will reject when they are electronically filed and not be processed correctly if they are mailed.

When the IRS releases the schemas and business rules that contain the retroactive provisions from the Bipartisan Budget Act of 2018, we will provide an update on this blog.