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- Re: Form 5695
Form 5695
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InnovativeTax
Level 3
01-30-2024
06:01 PM
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Hello my fellow accountants!!!
Anybody else eagerly awaiting the approval of Form 5695? A little upset, as well, the form isn't even calculating the proper credit(s) or any credit at all and not properly flowing to 1040 arithmetic.
Am I off here?
Thanks
Chris M.
3 Comments 3
TaxGuyBill
Level 15
01-30-2024
07:17 PM
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ProSeries does not program the software based on tax law; it programs the software based on IRS Form, Instructions and Publications.
The Instructions for Form 5695 are not final yet, which is why ProSeries has mostly left it to 2022 /programming. It is scheduled to be released on 2/7/2024, but because the Instructions are not final yet, it likely will be delayed beyond that.
InnovativeTax
Level 3
01-30-2024
08:03 PM
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Interesting....Thank you!
tscott1205
Level 4
02-06-2024
08:53 AM
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Where are the 87,000 new IRS personnel? Surely one of them knows a little about making forms available when the program is released! Why not conform the forms to tax law? Just another way to keep preparers frustrated in this stressful season.
