Turbotax Premier 2021 what-if wks 2022 tax rates

[JQ73]

I have the turbotax premier 2021 desk top version.

The what-if wks form does not seem to have the 2022 taxes rates, even though I select the box to include them.

Does anyone know why that is?

[MarilynG1]

I can't speak to why the 2022 Tax Rates are not included in the TurboTax Tax Estimator, not having tried it personally. 

Here's a link from the IRS with 2022 Tax Rates.

[JQ73]

Yes, that is right, the Federal tax rates for 2022 are available, and have been available for some time.

Turbo Tax 2021 has not yet included these rates in their what-if form for use in preparing 2022 tax year projections. Turbo Tax has done this in the past, and it is a very useful tool.

[JQ73]

This issue has still not been resolved as of May 20, 2022.

I called turbo tax concerning this issue on May 20, 2022 and Turbo Tax said that they would look into it and send me an email with their response. Have not received the email yet. Turbo tax also suggested that I uninstall and re-install the Turbo tax software. I have done this and the issue is still not resolved.

[NCperson]

@JQ73 - I really wouldn't be too concerned.  The tax brackets were adjusted by about 2.5%, so whatever is the estimated tax on Line 44F, reduce it by 2.5%. 

if you want the math to work down the rest of the sheet, take 2.5% of line 44F and add the result to the payments lineon 64a

that should be close enough.

This is just an estimate in any event; perfection is not the objective.

[SweetieJean]

Also be aware that "What If" won't take into account the fact that many 2021 tax law changes are no longer in effect (so far) for 2022;  such as the Stimulus, the Advanced Child Tax Credit, and changes to the Child Tax Credit.

[NCperson]

@SweetieJean - actually it does eliminate the 2021 COVID benefits; I was just testing it before repsonding to this thread.  for example, the child tax credit is the 'old rules', there is no stimulus, etc

[SweetieJean]

@NCperson Good to know.  Thanks.