The IRS was able to recover those but it delayed refunds for some by months. A couple of years ago a test went bad and several thousand "test" returns were lost. There is a reason to test and that is to discover any problems with it's systems. Every year many taxpayers that file early, forget to check back and only discover months later that they never actually filed because if was rejected by the IRS but they had forgotten about checking back after filing with TurboTax.ģ) While the IRS does conduct some pre-opening tests and does accept some returns early (ONLY for TESTING purposes), they will not actually process those until after the official opening date. If rejected, then it was never filed at all and must be corrected and re-filed. If rejected you can correct and file again, but if accepted then the only remedy is to amend which can take 4 months to process.Ģ) You must remember to check back after the IRS opens (or check for an e-mail) to confirm that the IRS has accepted or rejected the return. Why does TurboTax allow early filing? Because their competitors do - It is a marketing ploy to capture market share.įiling early with TurboTax before the IRS opens is a really BAD IDEA for many reasons.ġ) If you discover something that is wrong on your return, receive a W-2 that is different, receive some other tax document that was not on the return that you filed then there is NOTHING that you can do about it other than wait to see if the IRS accepts or rejects the return after they open. Some forms will not be finalized until Jan 25 and some later than that. Only the simplest returns can be transmitted to TurboTax early. only then will you get an e-mail telling you if the return was accepted or rejected by the IRS. TurboTax stores those early filed returns in a holding “POOL” until the IRS opens for business and “drains the pool” for processing. Although TurboTax may allow you to e-filed some returns as early as 1/6/22 (IF the forms in your return are ready for filing … see info below) they are NOT actually sent to the IRS.
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