Intuit Community Champion

Question

Today is supposed to be the day, Form 5695

Forum|Forum|2 years ago
February 7, 2024
7 replies
13 views

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

ProSeries Professional

M

MNH

Level 3

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

Level 8

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).

M

MNH

Level 3

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

Level 15

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.

Just-Lisa-Now-

Intuit Community Champion

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.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

S

Scuba

Level 3

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?

G

garman22

Intuit Community Champion

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.

S

Scuba

Level 3

Good to know. Thanks, @garman22 !

JRC

Level 7

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

Author

Intuit Community Champion

updates can, and do occur at any time

taxman1

Level 5

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

A

Angela1111

Level 3

And we keep patiently waiting...

taxman1

Level 5

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

Level 5

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

Level 15

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.

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