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Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

It has been so helpful coming on here and not feeling totally helpless, as the rejection notice (FIRST TIME EVER in YEARS of TT) and watching the rather lame video had me wondering. I guess our best option is to wait until the IRS figures this out and if someone would be so kind to let us know when their return is accepted...

 

And hopefully, we don't have to make any other changes on our tax return.

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

Thank you again for this thread, really refreshing to learn that I'm not the only one. 

 

It seems that the IRS sent out their new updated rules for 2022, Turbo tax applied the rules BEFORE the IRS did, now when we all submitted our returns the IRS rejects them because it considers the forms as error. Hopefully in 2 days (Feb/5th/2023) the IRS will update their business rules and everything will be reconciled. 

 

It sounds like generating form 8960 will now be required with the new IRS rules even though we don't have an  investment income necessarily? 

 

I only have 1099-MISCs in form of royalties. 

 

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

So - Once the IRS " updates" its Business rules for Form 8960 -does that imply our present returns, already completed and attempted @ e-file, will NOT require any modification, just resubmission??

 

Be nice to have TT confirm the "process" for resubmission!! Too many TT "Experts" giving conflicting advice IMHO.

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

Yes, same thing happened to me. I had a 1099-msc  for Amazon royalties for a book that my wife wrote and this is the first time while adding that small amount in it generated this issue. I will say that this is probably the earliest that I’ve ever tried to file but this should’ve been fixed along time ago. I guess they’re trying to make their point of why they need 87,000 new IRS agents.😂

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

I agree I, I don’t want to delete my return and start over, not knowing if it will make you pay for your state filing again. 

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

I've already talked with tt twice about the state fee. I've already paid once for it and obviously haven't been able to file since federal has to be filed first or at least at the same time. They told me to call in if there is a second charge and they'll give me a new code so I don't have to pay again.

 

As far as the federal return, I'm hoping there won't be any remove and reenter any of the 1099's because I have too many and it would suck, to be honest. I'm hoping the update will fix the issue completely.

 

Again I want to say, just because H&R and eTax have accepted returns, doesn't necessarily mean they won't have issues down the road a week or two. Since the IRS has the problem, I don't see how it'll pass thru without issue. Last year I had to hire the Tax Advocate Service and it took MONTHS even with them helping between me and the IRS. I'm waiting for the fix and for the tt fix. it's a matter of days to maybe a week. It's just not worth the unknown when you've been thru it once before. we've made it this far.

 

TT has been there for me for years, like most of you. I'm not jumping ship. It's a great program to use and you also have the comfort of having them all in one place. I do wish they would have one of their 'experts' get on here and explain it better though.

 

I check for updates every single morning. I'll be on here as soon as I see anything new.

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved


@marytony wrote:

I do wish they would have one of their 'experts' get on here and explain it better though.

PREACH! 

 

According to the sidebar of this thread, these are our experts:

@LindaS5247  @Anonymous  @MichaelG81  @SharonD007  @RalphH1 

It sure would be nice if one of the experts would take ownership of this issue and commit to posting a timely notification once the problem has been resolved and we should all attempt a re-file...

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

VERY BAD NEWS

 

The IRS spreadsheet has been updated and the projected resolution date for the issue affecting us has changed to "Business Rules will be updated sometime in late February to mid-March 2023."

 

This implies that we're looking at 3-6 weeks before we can e-file.

 

I'm taking to weekend to decide what to do... ridiculous...

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

IRS has updated their website with the excel showing errors. They’ve pushed the fix back to late-Feb or mid-March 

 

From the sheet:

“Business Rules will be updated sometime in late February to mid-March 2023.“

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

How else can we file to get around this? 

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

darn it.

 

It's really silly and pointless that we need this form when we don't have any investment income or rentals.  When I looked at my rejected returns, form 8960 for me was showing 4a entry with my royalty income and in 4b the same amount but in negative. So really makes zero sense we would need to file this form to begin with. But hey what do I know about taxes.

 

Problem is TT doesn't even allow you to delete the form. 

 

Really wanted to file and get it over with.. 

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

Terrible news indeed… @LindaS5247  @LynnB1  @MichaelG81  @SharonD007  @RalphH1  are you with Intuit?, can you please advise on path to follow to unblock eFiling? Are all of your impacted customers truly on the hook for an IRS resolution, or has Intuit negotiated a code/doc change that will permit filing?

 

There are 100 or more folks on this thread; I imagine there are tens of thousands who aren’t or who haven’t started filing yet. How will you support these customers?

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

Where are you seeing the resolution date is February 5th.  The IRS known issues and solutions worksheet I see does not provide a resolution date.  It implies a likely fix is late February or early March.

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

Correct, that spreadsheet was just updated today. Prior to today, it had stated 2/5

Federal return rejection Reject Code F8960-019-04 Processing error Form 8960, Net Investment Income Tax. We do not have an estimate for when the problem will be resolved

Now says will be fixed "Late Feb to Mid-March"  ugh!

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