What tax software have people found most helpful for handling S-corp returns for solo businesses? I'm planning to make the switch but wondering if I can still do it myself or if I absolutely need to hire someone.

Just went through this exact decision last year with my solo consulting business (around $450k profit). Made the S-corp switch and it was absolutely worth it - saved me about $35k in self-employment taxes. The key things that helped me navigate it: First, I documented everything for reasonable compensation by researching industry salary data and keeping records of my justification. I ended up at $140k salary which felt defensible based on comparable roles. Second, the payroll setup really isn't as scary as it sounds - I use Gusto and it handles everything automatically for about $80/month. One gotcha nobody warned me about: make sure you understand the timing of distributions vs. salary throughout the year. You can't just take one big distribution at year-end - the IRS wants to see regular payroll. Also, keep in mind you'll need to file both personal AND corporate returns now. The paperwork increase is real but manageable. The tax savings at your profit level should easily justify hiring help if you need it. At $700k, you're looking at potentially $50k+ in annual savings, so even paying an accountant $3-5k is a no-brainer ROI.

Have you considered having a tax professional review your return before submitting? For something that seems unusual to you, wouldn't it be worth the peace of mind to have someone verify everything is correct? Many military bases offer free tax preparation services through VITA programs. They could confirm if this refund amount is accurate for your specific situation and explain exactly which credits are generating this refund.

Your refund amount is definitely plausible! With 4 dependents and $27k income, you're hitting the sweet spot for both Child Tax Credit ($8,000 for 4 kids) and Earned Income Credit (potentially $6,000+ at your income level). These are refundable credits, meaning you get them even if you owe no tax. The fact that only $28 was withheld doesn't matter - these credits exist specifically to support working families like yours. Your brother-in-law's situation with 3 kids getting $6k actually supports this - one less child means $2k less in Child Tax Credit. The math checks out!

Went through this exact process last filing season. Submitted my 4800C on February 8th and got my refund on March 2nd, so just over 3 weeks. The key was making sure I submitted EXACTLY what they asked for - no more, no less. I made the mistake of sending too much documentation the first time (thought I was being helpful) and they rejected it and made me resubmit. The second time I followed their instructions to the letter and it went through without issues. Hope this helps and good luck!

Just went through this process myself - submitted my 4800C on February 28th and refund hit my account yesterday (March 8th), so about 8 business days for me. I think timing might depend on how backed up they are when you submit. One thing that helped was checking my account transcript on the IRS website rather than just relying on WMR - it showed the verification hold codes and when they were cleared, which gave me a better sense of what was actually happening behind the scenes. The transcript updated about 2 days before WMR finally showed "approved" status. Hang in there - it's definitely nerve-wracking but they seem to be processing these more efficiently than in previous years.

this happened to me. called SBTPG at exactly 5am Pacific when they open and got through after only 15 mins wait. they told me there was an error with my bank info and fixed it. got my refund 2 days later.

This is super frustrating but unfortunately pretty common with SBTPG. A few things to check: 1) Make sure your bank account info in TurboTax is 100% correct - even one wrong digit will cause delays, 2) Try calling SBTPG at exactly 8am ET when they open for the shortest wait times, 3) Check your IRS transcript online to see if there are any error codes that might explain the delay. The fact that there's no trace number usually means it's stuck in their processing queue rather than actually being sent to your bank. Most people see their money within 7-10 business days even with these delays, so hang in there! Also definitely pay TurboTax fees upfront next year to avoid SBTPG entirely.

I'm in the exact same situation! Filed April 3rd, accepted April 4th, WMR shows deposit by May 20th but still nothing in my Chime account as of today (May 24th). I've been checking my app probably 50 times a day - it's driving me insane! After reading through all these comments, I'm starting to realize this might not be a Chime issue at all. Sounds like there are hidden holds and reviews happening that the Where's My Refund tool just doesn't tell us about, which is honestly infuriating. How are we supposed to manage our finances when the IRS can't even give us accurate information about our own money? I claimed the Child Tax Credit too, so maybe that's what's causing the delay like someone mentioned. I'm definitely going to try that taxr.ai site tonight to see if there are any codes on my transcript that explain what's actually happening. If that doesn't work, I might have to try one of those calling services to get through to a real person. It's so frustrating because Chime is usually lightning fast with deposits, but we're all stuck waiting because of IRS processing issues. Thanks for posting this - it really helps to know I'm not alone in this mess! Hopefully we'll all get our refunds soon. The stress of waiting for money you're counting on is unreal.

I'm in almost the exact same situation! Filed April 7th, accepted the next day, WMR shows deposit by May 22nd to my Chime account, but still nothing as of today. I've been checking my account every few hours too - it's so stressful when you're depending on that money to catch up on bills. Reading through all these comments has been really helpful though. It sounds like there are often hidden holds or reviews that don't show up on the Where's My Refund tool, which honestly seems crazy. We shouldn't have to become detectives just to find out what's happening with our own refunds! I also claimed Child Tax Credit for my kids, so that might be causing additional review time like someone mentioned. I'm definitely going to try that taxr.ai site tonight to see if there are any codes on my transcript explaining the delay. And if I can't access my transcript online, maybe I'll look into one of those calling services people mentioned. It's frustrating because Chime is usually super fast with deposits, but we're all stuck waiting due to IRS processing issues. Thanks for posting this - it really helps to know we're not alone in dealing with this mess! Hopefully we all get our money soon. The waiting game is exhausting when you need that refund.