It seems a little silly that Archer MSAs even still exist. I can understand why valuable IRS resources should not be spent updating efile input for a dead-end tax benefit. Shouldn't there be some way to sunset the provision and allow/require people to either roll over or take a final withdrawal? New Archer MSAs haven't been allowed for years if not decades.
Why don't you suggest your clients close out their Archer MSAs voluntarily?
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I did check with my software provider, TAXWISE. They won't let me do this on the Federal return.
Possibly could file the state separately, though. I'll look into that.
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Did you check with your software support re e-filing two MSA forms? Can you e-file the state(s)?Leave a comment:
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It seems a little silly that IRS allows 2 HSA forms but not 2 MSA 5498-SA forms for e-filing.
These customers have substantial returns with many forms & schedules. Substantial refunds are also involved.
To have to create a paper return for each of the two tax authorities & have their refunds delayed is sure a pain in the rear.
I'm almost tempted to ignore one of the 5498-SA's. It only has $ 100 or so on it & the distribution had been made for qualifying medical expenses.
If the 5498-SA for $ 100 is ignored, the returns could then be e-filed. What would be the worst thing that could happen ?
An IRS CP-2000 on this could be easily handled - if they would even bother to send one for this small amount.
What say my fellow preparers ?
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Form 8948 with explanation for nor e-filing. Your state return may have such a form also.Leave a comment:
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Filing a paper 1040 return
Customers (MFJ) each received a 5498-SA from their Archer MSA. My software says having 2 of these makes them ineligible for e-filing.
Is there a transmittal form required to be submitted along with their paper returns ? If so, what form #.
Thanks for comments.
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