Today, from the IRS:
We learned that the IRS will enable e-file for the below provisions by Monday, February 19th, and update their systems on Sunday, February 18th to include these extenders. Intuit’s Individual TurboTax and ProSeries Federal products will release by Thursday, February 22, to address the known federal changes.
Extenders:
· Sec. 40201. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness.
· Sec. 40202. Extension of mortgage insurance premiums treated as qualified residence interest. Note, IRS has already enabled the associated business rules; they can now accept these returns.
· Sec. 40203. Extension of above-the-line deduction for qualified tuition and related expenses.
The IRS plans to:
· Sync e-file with associated changes to Forms and Schedules as much as possible and as soon as they can. Most of those associated with the provisions will be available by February 22, including Form 1040. For some, including Form 8917, IRS projects they will be available by March 2.
· Continue to assess Form 4684. They will share their plan when ready (soon).
· Enable the tax provisions for families and individuals first.
· Continue to assess the impact of the disaster provisions, both for the California Fires and additional relief for taxpayers impacted by Hurricanes Harvey, Irma and Maria, as well as the credits and business incentives also extended by the Act.
