TaxAct 2020 Professional Federal Editions Update (Version 1.12 for 1040)

Version 1.12 for 1040 is available for TaxAct 2020 Professional Federal Editions. This update includes:

• Updated Form 8962 with a checkbox to allow PTC calculation changes provided by the American Rescue Action Plan.
  • Note: The IRS is currently not ready to accept returns affected by this change and another update will be provided once the IRS has disabled the business rules/rejection codes to allow these to be e-filed.
• Other minor bugs and enhancements.

You may also want to ensure the “If already connected to the internet, automatically check for updates on program startup” checkbox is checked in the Tools –> Options menu. You can also check for updates at any time by clicking the Online –> Check for Updates menu.