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Quickfinder Updates

The Updates page provides information supplementing that in the Quickfinder Handbooks. Updates are arranged by publication, or by development type for broader developments that may impact multiple publications (such as tax legislation or late-breaking developments impacting 2020 returns). We invite you to visit this page regularly to view the most recent updates. For continued coverage of tax developments throughout the year, we recommend the Quickfinder Tax Tips Newsletter.

1040 Quickfinder Handbook (2020 Tax Year)

  • [1/26/21] 2021 Form 1040 Quick Tax Method
    • Click here for the 2021 Form 1040 Quick Tax Method. At the time of publication, the IRS had not released the 2021 individual income tax brackets.
  • [1/26/21] 2020 State and Local Sales Tax Deduction (Page 3-16)
    • The IRS has released the state and local sales tax deduction worksheet and the accompanying tables for computing the deduction, which were not available at the time of publication. For the worksheet and tables, click here.
  • [1/25/21] Post-publication Developments — Handbook Supplement
    • Developments that impact material in the 1040 Quickfinder Handbook and the preparation of 2020 individual income tax returns have occurred since the handbook was printed. Therefore, a packet containing “marked-up” redline changes to the affected pages in your handbook is available. Click here for the packet.

      Binder/loose-leaf handbook owners: If you purchased the 3-ring binder/loose-leaf version of the handbook and have access to a duplex (two-sided) printer, click here for the replacement pages for your handbook.

All States Quickfinder Handbook (2020 Tax Year)

  • Updates coming soon…

Depreciation Quickfinder Handbook (2020 Tax Year)

  • [1/27/21] Post-publication Developments — Handbook Supplement
    • Developments that impact material in the Depreciation Quickfinder Handbook and the preparation of 2020 tax returns have occurred since the handbook was printed. Therefore, a packet containing “marked-up” redline changes to the affected pages in your handbook is available. Click here for the packet.

Health Care Reform Quickfinder Handbook (2021 Edition)

  • [1/22/21] Updates for Year-End Developments
    • New tax legislation and IRS guidance were released after the publication of the Handbook. A packet containing redline changes to the affected pages in your handbook has been made available here.

Individuals—Special Tax Situations Quickfinder Handbook (2020 Tax Year)

  • [1/27/21] Post-publication Developments — Handbook Supplement
    • Developments that impact material in the Special Tax Situations Handbook and the preparation of 2020 income tax returns have occurred since the handbook was printed. Therefore, a packet containing “marked-up” redline changes to the affected pages in your handbook is available. Click here for the packet.

Premium Quickfinder Handbook (2020 Tax Year)

  • [2/19/21] Principal Business Activity Codes — Forms 1065, 1120, and 1120-S (Page 15-1)
    • For the Form 1065 codes, click here.

      For the Form 1120 codes, click here.

      For the Form 1120-S codes, click here.
  • [1/29/21] Post-publication Developments — Handbook Supplement
    • Developments that impact material in the Premium Quickfinder Handbook and the preparation of 2020 tax returns have occurred since the handbook was printed. Therefore, a packet containing “marked-up” redline changes to the affected pages in your handbook is available. Click here for the packet.

      Binder/loose-leaf handbook owners: If you purchased the 3-ring binder/loose-leaf version of the handbook and have access to a duplex (two-sided) printer, click here for the replacement pages for your handbook.
  • [1/26/21] Where to File: Business Returns Filing Addresses — 2020 Returns (Page 15-1)
    • For the Quickfinder table showing filing addresses for 2020 business tax returns, click here.
  • [1/26/21] 2021 Form 1040 Quick Tax Method
    • Click here for the 2021 Form 1040 Quick Tax Method. At the time of publication, the IRS had not released the 2021 individual income tax brackets.
  • [1/26/21] 2020 State and Local Sales Tax Deduction (Page 3-16)
    • The IRS has released the state and local sales tax deduction worksheet and the accompanying tables for computing the deduction, which were not available at the time of publication. For the worksheet and tables, click here.

Quickfinder Annual Tax Update (2020 Edition)

  • [2/2/21] Post-publication Developments — Product Supplement
    • Developments that impact material in the Quickfinder Annual Tax Update 2020, including late-December 2020 legislation, have occurred since the product was published. Therefore, a table explaining post-publication developments, organized by key issue in your product, is available. Click here for the table.

Quickfinder Tax Tables for Business Returns (2020 Tax Year)

  • [1/26/21] Post-publication Developments — Product Supplement
    • Developments that impact material in the Quickfinder Tax Tables for Business Returns have occurred since the product was printed. Therefore, a packet containing “marked-up” redline changes to the affected pages in your product is available. Click here for the packet.

Quickfinder Tax Tables for Individual Returns (2020 Tax Year)

  • No updates at this time.

Small Business Quickfinder Handbook (2020 Tax Year)

  • [2/19/21] Principal Business Activity Codes — Forms 1065, 1120, and 1120-S (Page A-1)
    • For the Form 1065 codes, click here.

      For the Form 1120 codes, click here.

      For the Form 1120-S codes, click here.
  • [1/27/21] Post-publication Developments — Handbook Supplement
    • Developments that impact material in the Small Business Quickfinder Handbook and the preparation of 2020 tax returns have occurred since the handbook was printed. Therefore, a packet containing “marked-up” redline changes to the affected pages in your handbook is available. Click here for the packet.

      Binder/loose-leaf handbook owners: If you purchased the 3-ring binder/loose-leaf version of the handbook and have access to a duplex (two-sided) printer, click here for the replacement pages for your handbook.
  • [1/26/21] Where to File: Business Returns Filing Addresses — 2020 Returns (Page A-1)
    • For the Quickfinder table showing filing addresses for 2020 business tax returns, click here.

Tax Legislation

  • [1/25/21] Consolidated Appropriations Act, 2021
    • The Consolidated Appropriations Act, 2021 (CAA, 2021) (Public Law 116-260, enacted on December 27, 2020) includes new relief payments to individuals, another round of Paycheck Protection Program (PPP) funding, changes to the deductibility of expenses for PPP recipients, and numerous tax extender, disaster relief, and other economic relief provisions.

      Staying true to the Quickfinder tradition of providing often-needed reference information in a concise, easy-to-use format, we’ve created tables that summarize provisions of interest to tax and financial professionals in some of the Acts that make up the CAA, 2021.

      Click here for the Quickfinder table summarizing extender provisions of the Taxpayer Certainty and Disaster Tax Relief Act of 2020.

      Click here for the Quickfinder table summarizing disaster relief and other provisions of the Taxpayer Certainty and Disaster Tax Relief Act of 2020.

      Click here for the three-part Quickfinder table providing—
      • Highlights of Continued Assistance for Unemployed Workers Act of 2020;
      • Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act—Highlights of Paycheck Protection Program (PPP) Provisions; and
      • Highlights of COVID-related Tax Relief Act of 2020.

Tax Planning for Individuals Quickfinder Handbook (2020 Edition)

  • [7/13/20] 2020 Vehicle Depreciation Limits and Lease Income Inclusion Table (Pages 1-33, 4-5, 4-6 and 4-7)
    • The IRS has released the Section 280F depreciation deduction limits for passenger autos (including trucks and vans) first placed in service during 2020. For passenger autos acquired after 9/27/17, placed in service during 2020, and subject to bonus depreciation under IRC Sec. 168(k), the depreciation limits are $18,100 for the first year, $16,100 for the second year, $9,700 for the third year, and $5,760 for each succeeding year. For passenger autos placed in service during 2020 that are not subject to Section 168(k) bonus depreciation, the depreciation limits are $10,100 for the first year, $16,100 for the second year, $9,700 for the third year, and $5,760 for each succeeding year. The IRS also has released the lease inclusion amounts for lessees of passenger autos first leased in 2020. Click on the following link for the text of Rev. Proc. 2020-37.

Late-breaking Developments Impacting 2020 Returns*
*Developments occurring after publication of handbooks but impacting 2020 returns

  • Updates coming soon…