Lacerte's default setting for all state estimates is 100% of NEXT year's tax rather then 100% of current year's tax (or whatever the percent of current year's tax is safe harbor for the particular state). There is no way to globally change all state's to the safe harbor setting either according to support. You must go state by state and change the setting. I generally only check the setting for New Mexico since that is where I am located and we did have 100% of 2022 tax in there, and now it's changed to 100% of 2023 tax due to an update, and now I have some clients paying less then they should which could result in underpayment penalties next year if their income next year is greater than the current year. I will have to go back and manually calculate this and change their estimates for the 4th quarter to make up the difference, which is time consuming and costly for my firm.
All the prior years Lacerte's that I have installed on my server are the same way, so all have been changed for New Mexico and other states. I called three other Lacerte customers to make sure this wasn't just an error caused by someone at my firm, and they all reported the same thing and all had no idea this was something they had to monitor or change in Primary Options.
Thanks for the idea to globally change all state's to the safe harbor setting for state estimates. We are changing the status to "Open for voting" since it is no longer considered "New".
Continue to vote and comment on enhancements by going to the Idea Exchange Home page and select "Status": Open for voting, "Sort by": Most Popular.>> Lacerte Idea Exchange
