Is form 8995 mandatory for self employed or can I delete it ?

[DawnC]

You use Form 8995 to figure your qualified business income deduction.  If you were self-employed or a small business, you probably qualify for the qualified business income (QBI) deduction.  Deleting it will likely cause an error, especially if you qualify for the deduction.   

[user1886]

thank you for your help.  I have another question regarding this: how will it affect my return? Does it make me end up owing or will it increase my return? moreover, If I do delete because I am worried about waiting for the form and what will happen if I wait too long because  i was told i have until jan 31st to file to save me from an offset, so will it get me flagged and possibly irs deny my refund? 

[DMarkM1]

The form 8995 is calculating a 20% deduction from your taxable income.  If you are reporting a business loss, there will not be a deduction so your refund will not change.  However, if you are reporting a profit, then you will get the 20% income deduction; meaning a higher refund or less tax due. 

Filing after January 31st but before April 15th will not flag your return.  However, you mention an offset.  That usually indicates some kind of government debt.  If there is some outstanding government debt, your refund will most likely be used to pay that debt.  If there is refund left over it will be issued to you. 

Here is a link with more information on the Treasury Offset Program.