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Retirement tax questions
Is there ANY possible way this form can be elevated to urgent or critical for your developers?
Time is running out between when people can submit their taxes and for when Congress will be passing the next Covid Relief Bill.
If the legislation is passed prior to Americans being able to file their taxes, for a lot of people, the income means testing will be based on 2019 income levels and not 2020. And for a lot of folks, they will need to be waiting for this specific form to be available while filing their taxes, especially since it can reduce tax burden for anyone that took early 401k distributions to survive.
February 24th is running the risk of a lot of people not being able to qualify for the $1400 dollars for COVID relief, especially if congress happens to pass the bill before then.
Is the 24th date specifically when the IRS will allow the form to be efilable? Or is that the expected ETA for when the form will be available for TurboTax users?