Is there any updates on my 1040A Individual Tax Return?

[candacetaneal]

It' says it will be available today 1/18/18. But I cant complete my return and file until it's available.

[xmasbaby0 · Accepted solution]

Many folks were expecting forms to be ready on January 18, as previously scheduled based on information from the IRS. TurboTax does not control the IRS.  Dates given by the IRS are subject to change.  The day has not ended.  There was not a promised “time” on the 18th.

You may be aware that in late December Congress passed a major tax reform bill.  That has the IRS scrambling to get tax return forms ready for this tax filing season.  They were waiting for the laws to pass.

Some forms are not finalized so you cannot file.  The IRS has to finalize a number of forms and then approve the finalized forms in the TT software.  Many state forms are not finalized either.  No reason to be in a rush.  The IRS will not be accepting returns until January 29 at the earliest, so filing early will not get you a faster refund.  The earliest refunds will not be released until mid to late February.  You just have to wait for the forms to be ready.

https://www.irs.gov/newsroom/2018-tax-filing-season-begins-jan-29-tax-returns-due-april-17-help...

[rpalmer12]

From another comment it's probably a good idea not to rush anyway's TY

[macuser_22]

Although TurboTax is accepting some e-filed returns now they are NOT being e-filed to the IRS which will not process any return until January 29. TurboTax stores those returns filed early until the IRS opens for business, only then will you get an e-mail telling you if the return was accepted or rejected by the IRS.

Only the simplest returns can be transmitted to TurboTax now. Many forms will not be finalized until Jan 25 and some later then that.

https://ttlc.intuit.com/questions/1908854-forms-availability-table-for-turbotax-federal-products-exc...

Why does TurboTax allow early filing? Because their competitors do - It is a marketing ploy.

Filing early with TurboTax before the IRS opens on Jan 29 is a really BAD IDEA.

1) If you discover something that is wrong on your return, receive a W-2 that is different, receive some other tax document that was not on the return that you filed then there is NOTHING that you can do about it other than wait to see if the IRS accepts or rejects the return after Jan 29. If rejected you can correct and file again, but if accepted then the only remedy is to amend which can take 4 months to process.

2) You must remember to check back after Jan 29 (or check for an e-mail) to confirm that the IRS has accepted or rejected the return. If rejected, then it was never filed at all and must be corrected and re-filed. Every year many taxpayers that file early, forget to check back and only discover months later that they never actually filed because if was rejected by the IRS but they had forgotten about checking back after filing with TurboTax.

3) While the IRS does conduct some pre-Jan 29 polling tests and does accept some returns early, they will not process those until Jan 29. There is a reason to test and that is to discover any problems with it's systems. A couple of years ago a test went bad and several thousand "test" returns were lost. The IRS was able to recover those but it delayed refunds for some by months.

There is no real advantage to file before the IRS opens on Jan 29, but there are disadvantages to do so.

https://www.irs.gov/newsroom/2018-tax-filing-season-begins-jan-29-tax-returns-due-april-17-help-avai...

[rpalmer12]

Ahh, thank you. I didn't consider surprises, so I'll wait.. TY

[SweetieJean]

Most forms are scheduled to be updated today, January 18, but we don't know what time of day that means. TurboTax is programmed from California, and it's still early there. Try again later today or tonight.

[rpalmer12]

OK, TY