I've been ready to file for a while now but Turbotax is saying I can't file because Form 8995A isn't available yet. First it said it would be available on 2/12/2020 and now it's saying 2/20/2020. I can go to the IRS website and find the form which is available now - https://www.irs.gov/pub/irs-pdf/f8995a.pdf
I tried calling Turbotax support and the person I talked to insisted the form isn't available yet, even through it very clearly is.
Anyone know what's going on with this?
Every new or updated tax form must pass several checkpoints before we can call it "final" in TurboTax. Here's how it works:
The form has been available on the IRS' website since December 2019. It shouldn't take this long to do any of the things in your list. It's a two page form - https://www.irs.gov/pub/irs-pdf/f8995a.pdf
I buy Turbotax with the expectation that I should be able to file my taxes as soon as the IRS starts allowing taxes to be filed, NOT at some seemingly random future date. Intuit needs to get this working ASAP
I concur with Jesses408. The IRS released the form in December and it's going to take two months to include it in the software. This is very disappointing coming from a company such TurboTax. Surely this is not uncommon and TurboTax should be able to expedite the update. By the way, step number one was completed in December.
I was planning to file my return today and this error is preventing me from filing. Need this fixed ASAP turbotax!!!
Today, February 8, 2020, I went to this IRS website address:
https://www.irs.gov/forms-pubs/about-form-8995-a
This webpage contains two links to PDF files: one for the 2019 Form 8995-A itself and one for its instructions.
The form itself is not labelled as a draft, but its instructions document is still only a draft as of December 12, 2019. I found no information about when the final instructions will be available. I think that Form 8995-A for 2019 will be available for filing using TurboTax only after the IRS publishes the final instructions document.
Ok ... just because the paper form is available doesn't mean the electronic form is ready ... even my professional program has a delay on that form until the IRS approves it for use ... this is not a simple thing to do as this form interacts with other forms which need to also be ready to accept it. Thank the congress for delaying things AGAIN and making everyone's job more difficult. Patience will be needed by all parties.
Is this why my form 8995-A has a "watermark" that reads, "DO NOT FILE, FORM NOT FINAL"?
I'm done with my return and printed it out and I was just going through making sure everything was in order and saw that this particular page said it's not ready even though it's all filled out.
Thanks!
I relied on TurboTax, but checked independently; and found that IRS indeed had not issued form 8998A at that time. Then I checkef a couple of days ago; that form is now surely available with IRS but TurboTax is continuing to repeat the same mantra. I have a feeling the form is stuck in the TurboTax bureaucracy.
I am planning to buy H&R software and see if they also have the same stand. I would appreciate if some one had used H&R Block software and if they have a different story. If H&R Block provides the form, then I am done with TurboTax forever.
@pverma222 wrote:
If H&R Block provides the form, then I am done with TurboTax forever.
You are NOT done with TurboTax; H&R Block is not scheduled to release Form 8995-A until 3/5/2020.
See https://www.hrblock.com/tax-software/updates-back-editions/federal-forms-available.html
Items 3 and 4 are unnecessary.
No one needs to check if the form is accurate, once it is finalized and issued by the IRS. It is IRS's responsibility and what they have done with it. Trust them for your customers' sake.
Further, why do you have to have final approval from the IRS? Know that they DO NOT CHECK your software code. May be compatibility. Then why doesn't TurboTax advise me to file by mail?
@pverma222 wrote:
...why do you have to have final approval from the IRS? Know that they DO NOT CHECK your software code.
The current release date is 2/20.
They most certainly do require interaction/compatibility test between the e-file vendor (TurboTax) and the IRS efile system before the IRS authorized the release of the form by the vendor.
Because e-fileing does not use paper forms - it transmits encrypted data in the exact format specified by the IRS/State or the IRS/State could not read it. The IRS/State first finalizes the paper form, then writes the e-file specifications and gives that to e-file providers to develop their software. Then the IRS/State must test with the e-file providers and approve the electronic forms before they can be released so that both ends are compatible. That process usually takes several weeks after the paper version has been released.
In that case I should be using my pen, calculator and already released IRS form.
If e-filing is the issue then why stop print-and-post filers?
Because TurboTax is an ERO. The ERO is the Authorized IRS e-file Provider who originates the electronic submission of a return to the IRS. An ERO can only offer tax forms that meet the IRS e-file schema requirements whether e-filed of mail filed - it is the same form.
Providers do not have separate or different forms for e-file or mail file.
https://www.irs.gov/e-file-providers/ero-technical-fact-sheet
I have same problem. I was given e-mail notification saying this form was ready but when I go to update its still the same without the form
Same with state form. Won't let me do my return until it is available
can probably do manually and get it done faster
That’s all fine and dandy, but we didn’t even know we had to wait on that form until we got to the very end of our small business forms. Delays like this hurt badly. Turbo could have given us a heads up that this wasn’t their fault, but they did originally promise the update on Feb. 12th. And now it’s the 20th. and I’m not buying the fact that they have to wait on the IRS for approval. Complete trash.
Turbo tax did a bait and switch. No notification given until after payment. Bad business.
I have been using Turbo Tax for 15 years and this is the first time it has ever been "delayed by a form" - especially since that form has been readily available on the IRS web site for well over a month, in addition you guys are now pushing the filing date out by 10 more days now... wow.
Explain to me the advantage again of shelling out 79 bucks next year? I will just print the IRS forms early and mail my return in... not being a **bleep**, it just makes zero sense to use this tool if I cannot file and get my refund early.
I wanted to file early to avoid any potential fraud and now I feel exposed!
@ctooch99 wrote:
...it just makes zero sense to use this tool if I cannot file and get my refund early.
If you are getting a refund every year, particularly a substantial refund, then you might want to adjust your withholding if you receive a W-2 and/or your estimated tax payments. Otherwise, you are essentially making the treasury department your bank, and they do not pay interest on your money.
Form 8995-A qualified business income deduction, is expected to be available on 02/20/2020.
The IRS had to finalize and approve the form for e-filing before the form is available on TurboTax.
Even the IRS will not give a definite date for their Free File forms - the 8995 is "To be determined" which means the IRS does not even have an estimated date for release.
https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms
TurboTax is part of the IRS Free File alliance and the Free File version is usually updated at the same time as the other online versions.
I really wish Intuit would get it together and get this form available. Intuit is holding my tax refund hostage.
And please don't give any advice on how/why I shouldn't get a big refund because it's an interest free loan to the IRS blah blah. The form 8995 is for BUSINESS INCOME which is not at all equivalent to a person with a single regular job with income that doesn't much change year to year. Especially for anyone with a new business filing in their first or second year, the average new business owner can't predict how things will work out in the first year.