Today is supposed to be the day, Form 5695

[Jim-from-Ohio]

I have several stockpiled energy credit tax returns.. hoping today the energy credit form is updated. 

[MNH]

I've been in the office since 5:30 this morning trying to file my pile of clients with Forms 5695 and 7206 and I can't get it to update to allow me to file.  I'm having several issues with ProSeries this year and none they have been able to fix.

[taxiowa]

I as well have alot to file that have been on holding.  But i would be careful with the 5695 and wait to see if it is correct.  The 7206 should calculate just fine, but I worry about the line numbers I entered items on the 5695 because I have a feeling they could drastically change.  You might have entered on line 22 and when update comes that might be line 25 (a).

[MNH]

Thank you for the heads up.  I do know that on Form 5695, when the credit flows and is included on the 1040 worksheet, and they have the child tax credit it is not adding the two together to give the total tax credit as it should.  Also, On the 1040, when there is Form 5695, the amount of total tax is correct (line 24), however, on line 25 (tax withholding) and one is subtracted from the other to calculate the refund, it is incorrect.  I called and they could not answer me after over an hour on the phone with the rep trying to figure it out and she could not.

[BobKamman]

I have a client who needs to file a 5695 only to claim a carryover solar credit that goes back three or four years.  Shouldn't be so complicated, but I wouldn't expect the update (if any) from Intuit until later today.  

[Ribald1962]

Same here seems like Proseries is always the last to update.  There service is getting worse every year.

[Just-Lisa-Now-]

I think the part of Intuit that sends out the programming updates is based on the West Coast, so unless they dropped an update late yesterday afternoon (which it doesnt look like) or someone was working through the night (hardly likely) to push an update out , I dont think we will see anything until people are up and moving around this morning.

[Just-Lisa-Now-]

Looks like the 7206 was still in draft at IRS as of Feb 1st and the instructions are still in draft, so I think that one will get pushed out further.

[garman22]

I had a fairly large update that I just did 9:15cst and my 5695 shows not available. Maybe they push one through later? 

[IRonMaN]

That was probably yesterday's update.  So, what did they break with that one? 😜

[Scuba]

I'm in the same situation.  I have several 1040s with Form 5695 and am holding them just for this form.  As of Feb 5th, the form had a message that said This Form is Not EF Ready" and "Available for EF-filing on Feb 7, 2024".  As of yesterday afternoon, the message read and continues to read  "This Form is Not EF Ready," but then in smaller blue print a message reads "Update Available Now".  I have updated my system four times since last evening and still the form is not available.  Is everyone else having this issue now?

[garman22]

Dont worry too much @Scuba. Unless they push it off to another date, there very well could be another update coming later today as they dont specifically tell us the time they will push the update through. Usually comes afternoon'ish.

[Scuba]

Good to know.  Thanks, @garman22 !

[JRC]

I was confused about the Schedule Update for this Wednesday!  Normally do not the updates land on a THURSDAY?  Why I wasn't hopeful...

[Jim-from-Ohio]

updates can, and do occur at any time

[taxman1]

From past experience they will probably update the form release date to a later date.  🤣  Especially RITA !!!

[Angela1111]

And we keep patiently waiting... 

[taxman1]

Looks as if they got it ready.  It prints fine and calculates fine (after you figure out the process).  But still says not efile ready.  But I checked and clients will convert for efile fine.  Hopefully it will send fine. 

[FTAX]

I would be happy if it would just calculate the credit for the time being so I can get a clean 8879 signed without using overrides.  I don't see why Intuit can't at least do that.

[BobKamman]

Did what I should have done a week ago -- completed the form from the online fillable pdf and finished the paper return.  We keep our fees down by not having to file electronically.  

[taxman1]

It will calculate fine now.  Just be sure to fill in the form entry page correctly for the credits to flow.  Input is different than prior years.  Especially Part 2 of the form.  You have to include Section B.

[Scuba]

Thanks for that tip.  I'll keep that in mind when I get back to my energy credit returns.

[FTAX]

I see what you mean; thanks!