Is anyone else having issues filing their federal return that has sep and simple plan contributions? My number match me w2. Am I the only one having issues?

[CatinaT1]

What kind of problems are you having?

[AshPie08]

If it's the same issue as me, I keep getting this error Form w-2: Box 12 Code -- We're updating how SEP and SIMPLE plan contributions are reported on the tax return based on new guidance from the IRS please check back

My numbers are correct (it matches my W2) but it keeps telling me to "Fix it" and not letting me e-file.

[BillM223]

I suspect that you will have to wait for TurboTax to be updated. On January 8, 2024 (i.e., just over a week ago) the IRS released a notice describing many changes required to implement the Secure Act 2.0 - I believe that this is what "We're updating how SEP and simple plan contributions are reported on the tax return based on new guidance from the IRS." is referring to.

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

These last minute IRS (and law) changes inescapably cause delays on the part of TurboTax and other tax processors. 

It will take time for TurboTax to understand all the ramifications of this IRS Notice and then code and test the changes. The IRS is not open for filing until January 29th so you have some time to wait.

[sthomp]

I am trying to file today and I am getting the same error.  Cannot file due to box 12 - simple plan.  Any news on when Turbo Tax will have this issue fixed?

[CatinaT1]

TurboTax programmers are currently implementing some recent IRS changes for reporting SEP and SIMPLE plan contributions. While there isn't an estimated date when the changes will be done, you can test this by editing your W-2 every 5-7 days to check on the status. 

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. 

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. 

[Vdvita77]

Same issue as well. Just going to print and mail. Seems I missed this $0 amount last yr and had to amend my return. Think I am getting more back from last yr.

[CatinaT1]

TurboTax programmers are currently implementing some recent IRS changes for reporting SEP and SIMPLE plan contributions. While there isn't an estimated date when the changes will be done, you can test this by editing your W-2 every 5-7 days to check on the status. 

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. 

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. 

[cpro989]

Still waiting. Still getting Error. Date on Error now says 'check back AFTER 02/07'

Have tried Updating. Have tried 'remove cents from S amount'.  Have tried removing W2 & readding.  Have -restarted TT app several times. Still no fix (02/07).

[CatinaT1]

This is scheduled to be fixed with the February 7 update. The updates generally happen at night. It should be available February 8.

[cpro989]

This. This is what I have going on. . . uninstalled & reinstalled 3 times including a few times with the superpatch. I have been all set, paid, and WAITING for a over a week. . . . . and now Update Error.

"I got an update this morning and thought finally I would be able to efile.  I paid for efiling. When I click Transmit Returns Now, I get the following error message:  "FAILED_VALIDATION. There is an update available for your version of TurboTax.  Before you can file electronically, you'll need to get this update.  To do this, go to the Online menu and select Check for Updates." And.... Of course, there is no update available.  I just spent an hour with support.  I've uninstalled and reinstalled.  I've run the manual superpatch.  They had me try uninstalling by deleting TurboTax folders to make sure nothing was left behind during an uninstall.  Nothing worked.  Finally I was told I guess I need to wait for the next update which was supposedly coming February 10.  This is all very frustrating"