topic How long does it take for TurboTax to get my California and federal file finalized? On the last step of filing? in Get your taxes done using TurboTax

How long does it take for TurboTax to get my California and federal file finalized? On the last step of filing?

rgomez3117 — Wed, 30 Dec 2020 18:31:55 GMT

Re: How long does it take for TurboTax to get my California and federal file finalized? On the last step of filing?

DoninGA — Wed, 30 Dec 2020 18:35:10 GMT

The TurboTax forms and schedules cannot be finalized until the IRS and the State of California finalize their forms and schedules.

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Go to this TurboTax website for California forms availability -https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_ca_online_individual.html

Re: How long does it take for TurboTax to get my California and federal file finalized? On the last step of filing?

xmasbaby0 — Wed, 30 Dec 2020 18:40:48 GMT

Please be careful about being in too much of a hurry to file your next tax return. Many tax forms are not available at the very beginning of the tax season, so you have to wait for your forms. The software still needs updates at the beginning of the tax season.

Although the software will allow you to e-file in early January, the IRS does not begin to accept the e-files until almost the end of January. So your return just sits on the server. If you realize that you made a mistake or left something out—as many people do—you cannot change it.

Every year we see people who are in such a rush to file that they file incorrectly and incompletely. If you file too early and leave out a W-2 or a 1099, or forget to enter information, you will end up having to amend your tax return---and that takes months. Employers have until February1. 2021 to issue W-2's----and ALL of your 2020 W-2's have to be on the same tax return. Many of the 1099's and 1098's you need do not arrive until late January or sometime in February. If you are getting Earned Income Credit or Additional Child Tax Credit, the IRS is going to hold your refund until the end of February no matter how early you file. There seems to be a greater chance of "early" returns being reviewed and those refunds are delayed, or early returns are more often subject to identity verification--which will also delay processing. Filing too early may just be a recipe for a delayed refund. It might go more smoothly for you if you wait until at least mid-February to file instead of e-filing during the first minute that you can do it.

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

At this point, we do not know yet what the new stimulus bill will mean in terms of changes to the 2020 Form 1040, software programming, software updates, etc., etc. Do NOT be in a hurry to file your 2020 tax return until more is known. It is never a good idea to file early, and it would be especially foolish to file an early 2020 return.

Re: How long does it take for TurboTax to get my California and federal file finalized? On the last step of filing?

SteamTrain — Wed, 30 Dec 2020 18:44:25 GMT

No one really knows

At any rate, you can't hit that last step until, supposedly, the end of the first full week in January...that's only IF TTX doesn't delay the expected filing start further due to recent Congressional "inaction" with the second stimulus.....That second one may force the IRS to change their forms...and thus delay the start of "simple" tax returns even further.

But even if it is allowed early in January ...DO NOT attempt to e-file before the 1st of February...why? Because it sits on a TTX server until the IRS starts processing them in Late January...or maybe now, even February....if you make any mistake at all, and you file sooner...you cannot get it back....and you don't have your W-2 forms now anyhow, and may you not have them until late January or early Feb