The "release notes" say Feb 12th, but this seems so late.  I am hoping that someone from Intuit can update us on why it's so late this year?

The 990 is a moving target every year, they push it later and later, Id be surprised if it was ready to go on the 12th.

You should bookmark your program's Forms list:

https://proconnect.intuit.com/proseries/forms-finder/

And use it to monitor what matters to you.

"The "release notes" say Feb 12th, but this seems so late.  I am hoping that someone from Intuit can update us on why it's so late this year?"

The IRS has pushed the start of e-filing back to Feb 12th, which is a sign of them being behind the 8 ball this year.  It is only natural for 990s to be a little later than normal since the due date for a calendar return is May 15th.

"since the due date for a calendar return is May 15th."

+ 2 more days 🙂

May 17 this year.

990 is always later than the rest because 1) fewer users, and 2) May due date, not April.