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January 26, 2024
Question

I cant file my return. It says to check my S-contributions to my 408(p) simple plan. Everything is right. Not sure what to do, it will not let me file until fixed.

  • January 26, 2024
  • 2 replies
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2 replies

January 26, 2024

I’m having the same issue only it’s saying they are waiting on an update due to a new way this is reported   

CatinaT1
January 26, 2024

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. Note that the IRS is not open for e-filing until January 29th. 

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January 30, 2024

Do we know when the irs updates will get fixed or is there an ETA of when we can finally E-file