@Mwsanford, last I heard, TT is still awaiting guidance from the IRS on this part of ARPA. Here's the summary of the process for updating TT and any other tax software:
1. Congress passed legislation in March, stating what needs to be done, but they didn't say how to implement it.
2. The IRS is now trying to figure out how to implement all the changes that Congress told them to do. i.e., they have to figure out what forms need new or different line item instructions, then they have to actually change the forms and write instructions for all the new changes. Then they have to figure out how these changes affect other parts of the tax code. Probably this APC that we now don't have to repay will get counted as income. Is that new bit of income taxable or not? (If I had to guess, I would say that it will be taxable, that any excess APC we received will now be basically considered a taxable grant, but don't quote me on that.) The IRS has to decide this, and make further changes to other forms, too. This is where the process currently is.
3. After the IRS figures out how to implement all the changes, then TT and other tax software companies have to write the code for the software updates, then send those software updates to the IRS for testing and approval.
4. Only once the IRS approves the software updates will TT be allowed to push the updates down to us, the end-users.
