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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
You can do whatever you want. You can even submit a final return for filing using wage info estimated from a final pay stub, or even earlier. However, this is a very bad idea, because if your information is mis-matched,you will get a letter from the IRS, your refund could be delayed, and you would have to file an amended return that takes 6 months to process. Check out the complaints here in March from people who rushed and made mistakes and now are suffering delays.
You can certainly put estimated information in your file now to see what your tax situation is likely to be, but be very careful to replace it with the correct information after you receive your final tax documents and before you file.
Also, there is a new law that specifically delays refund returns containing EIC or the Additional Child Tax credit, until at least February 15, to give the IRS more time to verify tax returns against wage and income data from employers to reduce fraudulent claims. So there's no point in filing an EIC or ACTC return early, and a real risk that if your information doesn't match the IRS records, your entire refund will be delayed for a full investigation.
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
You can do whatever you want. You can even submit a final return for filing using wage info estimated from a final pay stub, or even earlier. However, this is a very bad idea, because if your information is mis-matched,you will get a letter from the IRS, your refund could be delayed, and you would have to file an amended return that takes 6 months to process. Check out the complaints here in March from people who rushed and made mistakes and now are suffering delays.
You can certainly put estimated information in your file now to see what your tax situation is likely to be, but be very careful to replace it with the correct information after you receive your final tax documents and before you file.
Also, there is a new law that specifically delays refund returns containing EIC or the Additional Child Tax credit, until at least February 15, to give the IRS more time to verify tax returns against wage and income data from employers to reduce fraudulent claims. So there's no point in filing an EIC or ACTC return early, and a real risk that if your information doesn't match the IRS records, your entire refund will be delayed for a full investigation.
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
Oh, there does seem to be a problem with the Wages and Income section currently. They are looking into it. I can add you to the list. Do you get a error message like Hmmm, we hit a snag?
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
We don't know yet if Congress will make any 2016 tax law changes. Also be aware that the IRS and the States must finalize their respective forms, and then approve TT's versions of them.
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Turbo tax product support says users cant put in their wage and income info yet? Is that right? Across the board? What changes in tax laws are happening before tax time?
Turbotax will be enabled for e-filing when the majority of forms are finished and approved by the IRS and states. Customers should still wait to file until they have all their final tax documents, however long that takes, because correcting mistakes is more painful and complicated than waiting and doing it right.
But, turbotax will gladly take your filing fee and process your return early and let you clean up the mess.