Note: For details on 2020 changes, read the IRS instructions.

New and improved: 

• We updated built-in reports to account for form changes. 
• We updated all default maps and sample import files for 2021.
• We updated all copies of print layouts for 2021.
• We updated all help files for 2021.

Form changes: 

• Chapter 3 Exemption
  • 2020 Code: 02 Exempt under IRC (other than portfolio interest) → 2021 Code: 02 “Exempt under IRC”
• New Chapter 3 Exemption Code: 24 Exempt under section 892
• Review the following 2021 1042-S code changes and make any required changes to your data or imports: