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]

So if I sent my returns in already, how can I fix them? 

[MonikaK1]

TurboTax programmers are currently implementing some recent IRS changes for reporting SEP and SIMPLE plan contributions. While there isn't a final date available when the changes will be done, you can test this by editing your W-2 every few days to check on the status. 

On January 8, 2024, the IRS released a notice (within that bulletin, search for Employee Plans) describing many changes required to implement the Secure Act 2.0. If you try to enter Code S for Box 12 of your W-2, you may see this message: "We're updating how SEP and simple plan contributions are reported on the tax return based on new guidance from the IRS."

Section 601 of the Secure Act 2.0 refers specifically to Simple and SEP Roth IRAs. Code S in box 12 defines how to handle a SIMPLE plan. 

These last-minute IRS (and law) changes often cause implementation delays for TurboTax and other tax processors.  

Please be patient while TurboTax works to understand all the ramifications of this IRS Notice then code and test the changes. 

If you already filed, and need to amend your return, see this tool for information about the availability of forms in TurboTax. As of now, Form 1040X for amended returns is projected to become available on February 14, 2024, subject to change.

See here for more information on preparing an amended return with TurboTax.

There are times when you should amend your return and times when you shouldn't. Here are some common situations that call for an amendment:

• You realized you missed out on claiming a tax deduction or credit.
• You accidentally claimed the wrong tax filing status.
• You need to add or remove a dependent.
• You forgot to claim taxable income on your tax return.
• You realize you claimed an expense, deduction, or credit that you weren't eligible to claim.

See this article for more information on filing an amended return.

If you have questions on a different topic, please start a new thread. This helps Community users research more effectively.

[pecbridgett]

I agree also. TT should not have taken payment and then kick it back stating that they are waiting on changes. You should have caught that in the review. I did look into going through H & R block  and they are also waiting on the changes in forms for Simple/SEP Contributions. It actually states it on there site. Which will not be available until Feb. 2. I'm just assuming that TT will have them at the same time so unfortunately I will wait. I will continue to try everyday till then. Such a pain. 

[indyracer99]

You can request a refund at https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-refunds/request-refund-turbotax-p... but at this point, it's probably best to just wait despite the frustration and the questionable nature of taking payment without warning that returns couldn't have been transmitted.

If it does take until Feb 2nd, the price for turbotax will have increased, so it may be a bad move in the end to get a refund.

[BM59]

Code D is for Simple 401K.

Problem is with coding for a Simple IRA, which is S

[jesreid05]

It’s January 29 and that message is still coming up. On January 9, everything was good on the IRS side of things. 

Can TurboTax provide an update for when they might be able to process these returns?

[Sniderluc01]

This is not true its opening day for IRS processing and still problems for turbo tax I just want to file elsewhere and yet I cant because they already took my money, despite actually filing my taxes. Its something every year with turbo tax lately

[Sniderluc01]

This is false is opening day of  taxes and Turbo Tax still does not have this squared away and now I have been charged for their service despite actually receiving anything. So what the hell? They don have their stuff squared away but what the **bleep** is with charging people for their service when you cant actually service us? I NO LONGER WISH TO USE TURBOTAX however they keep charging me what the **bleep**

[Sniderluc01]

Very dishonest for them to charge us and then say they are unable to file for us. I no longer wish to use TT and yet cant receive a refund talk about being trapped. What a disgrace

[indyracer99]

You will have the same error with any other preparer.

There was new information from IRS Jan 8, 2024

SECTION 601 OF THE SECURE 2.0 ACT

Section 601(e) of the SECURE 2.0 Act provides that these amendments apply to taxable years beginning after December 31, 2022.

https://www.irs.gov/irb/2024-02_IRB

It sucks, but support says it will be fixed Jan 31.  

[Sniderluc01]

Not true with other preparers. 

[indyracer99]

You CAN get a refund.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-refunds/request-refund-turbotax-p...

[indyracer99]

@Sniderluc01 Where did you file without an issue?  I couldn't find anyone who had updated for the Jan 8th guidance the IRS issued as of this morning.  If someone has, I'm happy to be proven wrong and will consider switching.

[Lilmorty1981pup]

As of the 29th of January I am having this issue as well.

[Sanchez]

Same crap has been happening to me! I’m about to just file with another tax program!