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Maintenance Update 09 30 2020

Calculator update notes for 9-30-2020.

Overview:

The Sept. 30th update for 2020 is limited to minor fixes, enhancements and ADA refinements (except for the 72T calculators listed below). This update is optional, unless you have received instructions from us. All updates are cumulative, by skipping this limited update any changes to your package will be included in the next update release. To view the previous update package please see Calculator Update 6/30/2020.

Update instructions:

  1. Download the latest version of your calculator update from your download site, found on your update e-mail notice.
  2. Run the update package (KJEUpdate.exe). This is a self-extracting zip file. (Or unzip the KJEUpdate.zip file if you are using a non-windows platform.)
  3. When prompted for a directory, you may use the default or enter your own. It is recommended that you extract the update to a new directory and then move the required files to your production environment. One directory will be created with no subdirectories.
  4. Copy the new files to your current deployment, replacing files with identical files names with the new ones.

If you wish, you can download the full calculator package from the same location, and refresh all files provided by KJE for your calculators. This package includes any site specific changes done for you by KJE, but will not include any customizations by you or your web-developers. Please contact us if you have questions regarding this new update package.

Master Changes (affects all calculators):

  1. Numerous fine-tuning adjustments to the core deployment. If you have been provided a refresh of your calculator package anytime in September 2020 you will have already received these changes.

  2. Continued ADA improvements and fine-tuning for our continued support of WCAG 2.1 Level AA.

  3. Minor CSS changes for better WordPress support and color selection

Calculator specific updates:

  1. 72T Calculator, 72T Distribution Impact (Retire72T.html, Retire72T2.html, Retire72Alt.html, SPRetire72T.html, SPRetire72Alt): The default "Reasonable interest rate" has been changed to 0.46% to reflect 120% of the current Federal Mid-Term rate as of October 2020.

  2. Tax 1040, Simple Tax 1040 (Tax1040.html, Tax1040Simple.html): A new input for dependents that qualify for the Other Dependent Credit (OTC) described in publication 972 has been added to the calculator. The new field is defined as follows:

    Dependents qualifying for child tax credit

    Enter the number of dependent children that qualify for the child tax credit. In 2020, for each qualifying child you can receive up to a $2,000 tax credit. To qualify a child must be under age 17 at the end of the year. They must be either your child, one of your siblings or your foster child or a child of any of them (for example your grandchild). In addition, they must have lived with you for more than half of the year, not provide more than half of their own support and must be claimed as a dependent on your tax return.

  3. Student budget calculator (U.S. and Canadian) (StudentBudget.html, CAStudentBudget.html, FRStudentBudget.html): Report tables have been improved for better display on small screens including phones and portrait mode tablets.

  4. Roth IRA Conversion Calculator (RothTransfer.html, SPRothTransfer.html): The current age (which is the age that the conversion will take place) maximum has been increased to age 72. Although it is possible to convert an IRA from a traditional to a ROTH at any age, this particular calculator is designed to illustrate the conversion for people who have not yet retired and are not required to make Required Minimum Distributions. For illustrations of conversions near, at or after retirement please use the calculator: Roth IRA Conversion with Distributions Calculator.

    The definition for current age has been updated to:

    Current Age:

    This current age of the account owner must 72 or less for this calculator. Although it is possible to convert an IRA at any age, this calculator does not take Required Minimum Distributions (RMD) into account, which begin at age 72 (or 70 1/2 if you were born before 7/1/1949) and is not designed for individuals that are currently required to begin making these distributions.

  5. Roth IRA vs. Traditional IRA Calculator, Traditional IRA Calculator (RothvsRegular.html, SPRothvsRegular.html, RegularIRA.html, SPRegularIRA.html): The current age maximum has been increased to age 72. Although it is possible to make contribitions to an IRA at any age where you have eligible income, this particular calculator is designed to illustrate contributions for people who have not yet retired and are not required to make Required Minimum Distributions.

    The definition for current age has been updated to:

    Current Age:

    This current age of the account owner must 72 or less for this calculator. Although it is possible to make contributions to an IRA at any age where you have eligible income, this calculator does not take Required Minimum Distributions (RMD) into account, which begin at age 72 (or 70 1/2 if you were born before 7/1/1949) and is not designed for individuals that are currently required to make these distributions.