Will it update the TD1 rates?

All the tax tables are in that update

Issue still exists after allowing file mysqld.exe on both public and private networks. Is there another step that needs completed? When is the fixed update expected to be released?

Yes, we are still seeing issues. Please see KB article 102392 for instructions.

I'm having this issue with files on Sage Drive. If I do the instructions in the article, my file on Sage drive will sit there forever without a way to delete it. I've already got that issue with past files stuck in Sage Drive. Do you have a better solution for Sage Drive users?

Do you have 2020.1 installed yet?

Try this:  Close Sage 50, reopen, and uncheck the option for auto backups when t converts. 

Yes, I have the 2020.1 version installed and unfortunately it still loops around and around. No way to open the file again.

I spent some time on the phone to tech support with a really nice lady from South Africa. The suggestion was to revert to using Sage 2019 and restoring from a backup until 2020 gets fixed. The problem was were running on 2020.0 for a while with no problems, it was only on Jan. 30 that the software updated to 2020.1 that Sage 50 crashed. So if I want to restore from a backup I have to go back to before 2020.0 installed itself which means I'm going to be missing a couple of weeks of data. 

Since I don't do payroll am I better to wait for the fixed up version of 2020.11 to come out and just do my accounting on the back of an envelope until then?  Any idea when the fix will be released? 

R&D is on it. A fix is coming later this week. 

I don't know why it worked, or if this was a fluke, but I created a new company in Sage 2020.1 (all four or my true company files were stuck in this loop) and then once I had Sage 50 in version 2020.1 opened with a company (this fake test company) I was able to click File>Sage Drive>Download a Shared Company and then choose one of my real companies. The same prompt asking me to update the file to the newest version appeared so I UNchecked auto create backup and let the system go through updating my file and the company opened for me, updated and no loop! Repeated for all four companies and it worked with all. Again, could be a fluke that this worked after creating a fake company file, but at least I can complete payroll this week!

But it's worth sharing, which I will. Thanks.

I did, and the reply was "The fake company would not have done anything. If they would have closed out and tried to open the file again and uncheck the box the conversion would have worked as well.

 I have tested this on my own machine and with the auto backup checked it will keep looping and only way to get out of it is close and reopen the file." But thanks for sharing.

Why don't you try re-installing 2020.0 again? Uninstall Sage 2020.1 and then install Sage 2020.0. The downloaded file is saved under: C drive, users, public, public documents, sage software, simply accounting, download. The file is called SA_20200CP1. You can't go back to 2019 since you've already updated to 2020 but this might work for you until the fix comes out.

Eventually I needed the file so I used an older computer and opened the file under Sage 2020.0. At that point I took the file off Sage Drive and then converted it to 2020.1. That worked, but then I had to put it back on the drive so my clients could access their data again.