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blipsmeyer

Solved

Getting msg saying "we are updating how sep and simple plan contributions are reported on the tax return based on new guidance from the irs check back later" help plz?

Forum|Forum|2 years ago
January 23, 2024
49 replies
0 views

Turbo tax won't let me file until this is fixed

TurboTax Deluxe Online

Best answer by CatinaT1

I agree, it is very frustrating.

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.

Show previous replies

Katyw

Only use code D if it is a simple 401k, if it is a simple IRA, code S is the correct code.

Sanchez 12

Yes I type code S-contributions to 408(p) SIMPLE PLAN. It’s not letting me out that in.. keeps saying fix federal return…

tmangrum82

I uploaded my tax return to TT and I got thru with everything until this. Where it is also saying for me to fix my return. It won't let me change anything because it was uploaded amd not manually put in. I'm hoping this issue gets fixed because I already put in a date to pay my taxes owed also.

Trisha23

Any way to get a refund so I can file with someone else?

mariahlynn05

@Trisha23

Go with H&R Block.
I’ve used them a few times & heard people were filing their taxes just fine there

slondyn

I got a call today from a Cx having the same problem of not being able to file because of this restriction. So, to date this is an ongoing issue.

deam8092

Me too. Went all the way through, could not understand that issue and NOW I can't file electronically because of this issue on January 30th. I would have made other arrangements to file if I'd know this!

JamieT103

Who did you end up using because I'm moving on as well? Used them for so so many years I hate switching, but I gotta do what I gotta do.

BillM223

I suspect that you will have to wait for TurboTax to be updated. On January 8, 2024 (i.e., just three weeks 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. This is when you enter "S" in box 12 on your W-2.

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.

It will take time for TurboTax to understand all the ramifications of this IRS Notice and then code and test the changes. By 'test the changes", I mean not only test but also regression test to make sure that other stuff wasn't broken in the process.

Some mentioned above that "TurboTax had all year to prepare for this", and that is simply not true. The Notice - which contained dozens of tax law changes above and beyond the code S issue that has stopped returns from being filed - was released on January 8th. Of this year.

TurboTax takes pride in the accuracy of its calculations, and a slapdash approach to last minute changes won't do anyone any good.

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Jma14112

I just made a quick username to thank you for this !! It went through and finally worked for me when I updated that. Wanted to leave this comment incase it was helpful or seen by anyone else to know that it worked 🙂

Anth26

It's great that you're updating and you said you can't file until the 29th of January well it's now the 31st and it's still not fixed and I already paid you so I can't do anything from here but wait. Does TurboTax plan on sending out a message stating that it's fixed or do I need to keep coming on here everyday and trying to file and have it tell me I can't?

Dook5787

When will this be fixed

Zomic

This is wild…..TurboTax about to lose a lot of customers….

everyone just go H&R Block. Their system is up and functioning, it’s not like the IRS made the change on the 8th and TT had ample opportunity to rectify this on their end….

anniesegovia1216

@Zomic if I already “filed” on TurboTax could I still go to h&r box

broncomcd1

HOW MUCH LONGER TURBO TAX? I WANT TO TURN IN MY RETURN TO GET THE MONEY IN THE BANK.

AmyC

Employee

Please check forms availability here. Select online, Windows, or Macintosh from the drop down menu. Whenever the federal and states change a form, we have to as well. This happens throughout tax season.

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pytoneliz

just spoke with the live agent. form will be released today and should be able to file tomorrow or very very soon! hope this helps!!