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I just talked with someone from Intuit and he mentioned that the 3/17/22 date that we are so eagerly waiting for 8915F is not set in stone. He also said that intuit will not put a rough draft of a form that the IRS has not released yet. If you have read my earlier post you know what I am planning to do on march 17 if that form is not ready. God help us all.
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We've been mentioning March 17 all along, because the Forms release date pages for the program(s) shows March 17. We also know that Intuit might get things done earlier, but they give an expected date, if they have it scheduled. However, the IRS doesn't do the same.
"He also said that intuit will not put a rough draft of a form that the IRS has not released yet."
Exactly. That's why I have posted the two links for the IRS: one is for released forms and one is for draft forms. That way, you can watch both sites. Until you see it released from the IRS, you don't need to complain about Intuit. Well, you can keep complaining, but I would not expect anything to change.
Up to you what you do with your time, of course. But now don't you have something like 8 topics running on this same thing? Remember, you are complaining to peer users.
I though you already apologized for doing this very thing previously? Perhaps we need an ongoing apology.
Don't yell at us; we're volunteers
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I am afraid you have misunderstood my post. I was not yelling at intuit. I was just passing on information that I had recived from intuit. If i was yelling at anybody it was the IRS.
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RE: ...... you know what I am planning to do on march 17 if that form is not ready. God help us all.
I know what I'm planning to do on March 17. I'm going to wear green and have corned beef and cabbage. I'm going to drink Jameson Whisky on that day. I'm going to expect some jokes about Paddy from @IRonMaN. March 17 is St. Patrick's Day.
When life gives me lemon, I make lemon twists for whatever I'm drinking. When life makes IRS and FTB delay the tax filing and causes me extra time and grief, I bill my clients (but only the extra time and not the grief).
I come here for kudos and IRonMaN's jokes.
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Hey I like that part about making more money
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Unless Paddy is joining Sven and Ole down at the bar, that ain't happening.
Slava Ukraini!
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Tell Paddy NO ice fishing for him this year.
I come here for kudos and IRonMaN's jokes.
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At least not until the Zamboni is finished.
Slava Ukraini!
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I read where you are coming from.
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I wanted to get an opinion on this...
in lieu of waiting for the 8915F form to be released couldn't we amend our 2020 returns on form 8915E to pay for all of the taxes in 2020 instead of spacing it out over 3 years? Shouldn't doing this prevent the need to fill out an 8915F form all together for 2021 taxes? Curious to hear everyone's thoughts.
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That would prevent waiting for the 8915F but it would also mean that your clients would have to pay interest on the amended balance due.
Slava Ukraini!
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Also, are you going to amend the return for free?
Slava Ukraini!
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Good point. In this particular circumstance a portion of the distribution was also put back into the retirement account. I’ll have to run the numbers to determine what’s owed. Thanks for your quick reply.
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Off the top of my head (not thinking clearly - now that I heard Paddy's pal drowned in beer), I believe the tax on the qualified COVID retirement distributions had to be spread over three years, unless an election was made. I never researched on the due date for the election. You may want to check it out before you look further into amending.
If you decided to amend, just use ACME and skip the first two amended returns. @IRonMaN represented the 3rd one is free.
I come here for kudos and IRonMaN's jokes.
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"a portion of the distribution was also put back into the retirement account."
In which year?
And reporting it all in 2020 as amended means changing their AGI. That can affect other credits and trigger IRMAA.
Don't yell at us; we're volunteers