I am stuck with how the Sep and the simple plan contributions are reported .. any timeline on when this will be reolved by turbotax

[MinhT1]

On January 8, 2024, the IRS released a notice 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.

TurboTax is currently working on the issue. Please check back later after January 31, 2024.

[jmorgan60]

I spoke with someone last night who told me that they usually download updates, or are finished downloading updates, on the day that we are able to file, that being today. He suggested I try again this morning. I tried again this morning and it is still doing it. My question is, if I was to cancel out, since I have it set to come out of my refund, would I be able to switch to another tax program? And if so, would they have the same issue?

[McMeek13]

I've used Turbo Tax for years and years, and unfortunately this is the first year that I had to switch to H&R Block, because of this issue. H&R has it all figured out....I don't understand why Turbo Tax couldn't have had it ready to go. 

[DianeW777]

The IRS is not quite ready for this.  Continue to check back each day until they have readiness to process. On January 8, 2024, the IRS released a notice 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.

irs.gov

Internal Revenue Bulletin: 2024-02 | Internal Revenue Service

HIGHLIGHTS OF THIS ISSUE ADMINISTRATIVE ADMINISTRATIVE, EMPLOYMENT TAX, INCOME TAX, SPECIAL ANNOUNCEMENT EMPLOYEE PLANS EMPLOYEE PLANS, EXCISE TAX (edited)

[McMeek13]

That doesn't make sense. The IRS is obviously ready for it if H&R Block isn't stopping people from filing and the IRS opened up filing today.