Sage Abra Update – Stimulus Plan
March 3rd, 2009 by Harold Ford
The American Recovery and Reinvestment Act (ARRA), also known as the 2009 Economic Stimulus Plan has many legislative changes. Several of the provisions will require updates to Sage Abra. The Sage Compliance team has been reviewing the legislation and will take the following action one these items:
- Changes to the Federal Tax Rate. This will be included in a Service Release that we plan to have available no later then March 6th, 2009 and will also be included in the 1st Quarter Tax Update for 2009.
- Changes to EIC (Earned Income Credit.) This will also be included in our March 6th Service Release and in the 1st Quarter Tax Update for 2009.
- Changes to Form 941 updates to accommodate the new COBRA subsidy data on the form. This will be added to Sage Abra in the 1st Quarter Tax Update for 2009.
During the rollout of ARRA, the Compliance team will continue to monitor the requirements to ensure timely and accurate implementation of the new laws as they are finalized and put into effect.
