Solved: Re: Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Dsobgirl · ‎January 27, 2024

Any update on when this will be fixed?

VolvoGirl · ‎January 27, 2024

No. If you paid the Turbo Tax fees at least you locked in the lower price.

tipsy2173 · ‎January 27, 2024

next week they saying

Dsobgirl · ‎January 27, 2024

I normally have them take it from my refund!

Dsobgirl · ‎January 27, 2024

Hopefully Monday lol! I was looking at H&R block but I don't want to have to start everything over from scratch. :(

broncomcd1 · ‎January 27, 2024

I am not mad at anyone. My tax refund for state went down. If there is a chance it might go up, I am fine with waiting for the IRS and their changes to take effect. Thanks for the clarification! PS: I do not share the negative comments aimed at TT. I love this program!

tic32003 · ‎January 28, 2024

According to the IRS website (https://www.irs.gov/retirement-plans/common-errors-on-form-w-2-codes-for-retirement-plans) your employer used the wrong code for Box 12. IRS says Simple Plans should use Code D, not Code S.

If you change the code in TurboTax, it will go through (print out the above page from the IRS website to keep with your tax records in case of audit).

Common mistakes

During Form 5500 examinations, IRS agents found employers using incorrect codes in Box 12 of Form W-2, for example:

code D for 401(k) elective deferrals incorrectly included 403(b), 457, or non-qualified amounts.
code E for 403(b) contributions but did not have a 403(b) plan.
code H to incorrectly report health benefits; code H is for elective deferrals to a 501(c)(18)(D) tax-exempt organization plan. (In fact, a recent Employee Plan Compliance Unit project found that only 6 % of employers who used this code actually contributed to a 501(c)(18) plan.)
code S for a SIMPLE 401(k); the correct code for a SIMPLE 401(k) is code D.

Dsobgirl · ‎January 28, 2024

Did they just update that?

angie5235 · ‎January 28, 2024

I got the same message. Ended up going to a different online tax preparation company to file my return with no issues. My return has been filed with the other company. After years of only using Turbo Tax I won't be back. This is so frustrating that a company this large has not been able to fix the reporting issue.

Dsobgirl · ‎January 28, 2024

Who did you end up using? I've been using TurboTax for a while now too. :(

sharlyn1121 · ‎January 28, 2024

Thank you for that link!

If I am reading it correctly, Code D is for SIMPLE 401(k) plans.

Code S is for SIMPLE IRA plans.

I would suggest verifying which type of retirement account you have before changing the letter in the box.

Great info, though! Thanks again. 🙂

tmangrum82 · ‎January 28, 2024

I actually have Code S on mine because I have a Simple plan. It still gave me this message not allowing me to finish filing. Guess I will check back next week and see what's up.

Whysper76 · ‎January 28, 2024

I got the same message, very frustrating

Dsobgirl · ‎January 28, 2024

My coworker & I both have the code S on our W2's and we have simple IRA's but my coworker just changed hers to code D and it went through.

jodiyaworski · ‎January 29, 2024

I tried to file today and still same error, when will this be fixed??

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Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Common mistakes

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

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Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Common mistakes

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

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