Some of your forms may not be ready...click Review to see what forms you might still be waiting for. And...there is no rush since the IRS will not begin to accept/reject e-files until late January. There is no reason to hurry and put your return on a server where you cannot fix mistakes.
The IRS has not even announced yet when they will begin to accept 2022 e-files. E-filing has not opened with them yet. They will probably start accepting/rejecting e-files by the end of January. If TurboTax lets you start e-filing earlier than that----and they do as a marketing ploy----then your return will just sit on a server waiting for the IRS. While it is in pending on that server, you will have no ability or power to fix or change anything if you suddenly realize you have left out something or made a mistake. On January 5 TT allowed e-filing to begin. Within hours we were seeing frantic users who e-filed and accidentally used the wrong W-2’s etc.
Employers have until the end of January to send W-2's, there are over a dozen kinds of 1099's that can still arrive in your mail or online in January and February….etc., etc., etc. Many federal and state forms are not yet available; you cannot file until your forms are ready. When you rush to file too soon you risk making mistakes that will put your return under review or that will require you to amend later. Those situations can take months to sort out. And...if you are in a hurry because you are getting child tax credit or earned income credit, the IRS will hold your refund until mid-February because of the PATH act. Every year we see people who rush to file and live to regret their haste. Check the forum a few days after the first filing frenzy to read the posts from people who forgot W-2’s, forgot to enter dependents, forgot to enter Social Security, forgot a 1099 would be coming……and they want to know how to fix their returns—or stop them from going to the IRS.
IF you e-file now, your return will go into “pending” until the IRS starts to accept/reject returns.
MY RETURN IS IN PENDING—what does that mean?
Did you e-file? Did you click that big orange button that said “Transmit my returns now?” If so, your return is now in “pending” on a server. Do not try to change anything while your return is in pending. Later in January the IRS will begin to accept/reject e-files. Watch your emails—including your spam folder—for the notice about whether your e-file has been accepted or rejected. If your return is rejected you will be able to make corrections before re-filing. If the return you e-filed is accepted you will have to wait until it has been fully processed and then amend it to fix any mistakes or omissions. It has been taking the IRS six to nine months—sometimes longer—to process amended returns. If you e-filed your state return there will be another email later that tells you if the state was accepted or rejected.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
