3800 Form - Should I wait to file my S-Copr tax returns?

[raj27]

I'm not sure if Form 3800 is applicable to my S-Corp. What are the criteria for my company to file Form 3800? Is it mandatory? Can you please explain if I should file it now or wait?

[PatriciaV]

There have been recent developments that required additional updates to Form 3800, which affects all business returns, even if it doesn't seem to apply to your situation. The revised Form 3800, General Business Credit, is estimated to be released on March 6, 2024. Because updates are released after business hours Pacific time, we recommend you wait to update your software the next day, run Review again, then try your entries again.