This discrepancy between SBTPG's phone system and website is unfortunately very common and nothing to worry about! I went through this exact same thing a few weeks ago and it drove me absolutely crazy. The phone system updates in real-time when the IRS releases your refund to SBTPG, while their website seems to run on some ancient batch processing system that can lag 24-72 hours behind. When you hear "paid" on the phone, that's the reliable indicator - it means your refund is in SBTPG's hands and will typically hit your bank account within 1-3 business days. I'd recommend setting up mobile banking alerts so you know the moment it arrives, because the SBTPG website will probably still be showing "unfunded" even after your money is already deposited! Just try to be patient (easier said than done, I know) and check your bank account rather than obsessing over their website updates.

I went through this exact same nightmare last year! The SBTPG phone system told me "paid" for THREE DAYS while their website kept showing "unfunded" - I was starting to think I was losing my mind. Turns out their website is just ridiculously slow to update. What helped me stay sane was calling my bank directly to ask if they had any pending deposits coming in. My bank could actually see the ACH transfer was in progress before SBTPG's website ever updated. The money showed up on a Wednesday morning, and their website STILL said "unfunded" until Thursday afternoon. It's honestly embarrassing how outdated their web systems are compared to their phone system. My advice? Trust the phone status and maybe give your bank a call to see if they can spot any incoming transfers. At least then you'll have a third source of information to help triangulate what's actually happening!

Last year I just left off a tiny W2 from a place that paid me like $47 because I never got the form and didn't think it mattered. Got a letter from the IRS six months later asking about the discrepancy. Wasn't a huge deal but I had to file an amended return and it was annoying. Just include everything and save yourself the hassle!

I had a similar situation a few years back with a temp job that lasted only three days. The key thing to remember is that even though the amounts seem tiny, the IRS computer systems will automatically flag any discrepancies between what employers report and what you file. Here's what I'd suggest: First, try logging into those employers' payroll systems online if you still have access - many companies use ADP, Paychex, or similar services where you can download your W2 electronically even after leaving. If that doesn't work, you have until the end of February to receive them by mail before you can take action. If you still don't have them by then, definitely file Form 4852 as others mentioned. The most important thing is to be as accurate as possible with your estimates. Even if you're off by a few dollars, showing good faith effort to report the income properly is what matters to the IRS. One last tip - keep records of all your attempts to get the W2s (emails, phone calls, etc.) in case you ever need to show you made reasonable efforts to obtain the proper documentation.

I'm dealing with a similar situation with my consulting LLC right now. One thing I learned from my tax attorney that might help - the IRS has a special "late election relief" procedure under Revenue Procedure 2013-30 that's separate from the regular reasonable cause provisions. This procedure allows you to make a late entity classification election if you meet certain requirements, including that you haven't filed a tax return for the year you want the election to be effective for, OR if you have filed, that you filed consistently with the requested election. The key advantage is that you don't have to prove "reasonable cause" - you just have to meet the procedural requirements. There's a $3,271 user fee, but if you qualify, it's often easier than trying to argue reasonable cause. Given your June-to-June fiscal year and $380k revenue, this might be worth exploring before going the reasonable cause route. The procedure has specific timing requirements though - generally you need to file within 3 years and 75 days of the requested effective date. Have you already filed your LLC tax return for the year you want to elect C corp status for? That could impact which approach makes more sense.

Just wanted to add another perspective from someone who went through this process recently. I'm a CPA and helped several clients navigate retroactive entity elections over the past year. One thing that hasn't been fully emphasized in this thread - the choice between LLC, S corp, and C corp taxation isn't just about current year tax savings. You need to think about your long-term business strategy: - If you're planning to bring in outside investors eventually, C corp status makes that much easier - If you want to offer employee stock options down the road, C corp structure is typically preferred - But if you're planning to distribute most profits to owners, pass-through taxation (LLC or S corp) usually wins For your specific situation with $380k revenue growing to $500k, I'd strongly recommend modeling out at least 3 scenarios over a 5-year period before making the election. The "right" choice depends heavily on your distribution strategy and growth plans. Also, regarding the retroactive election - Rev. Proc. 2013-30 is definitely your best bet if you qualify. The reasonable cause route is much more unpredictable, and I've seen plenty of those get denied even with what seemed like solid justification. One last tip: if you do go the C corp route, make sure you understand the accumulated earnings tax implications if you retain too much profit without a business purpose. That can bite you later if you're not careful.

I got audited last year specifically for not reporting my crypto! I had only made about $3,000 in profit and thought it wasn't worth reporting. Big mistake. The IRS sent me a letter asking why I didn't report my cryptocurrency transactions. They didn't say how they knew, but I assume either Coinbase provided info or they noticed deposits to my bank account from Coinbase. The penalties and interest added almost 40% on top of what I owed! Plus I had to pay an accountant to help me deal with the audit. Don't risk it - just report your crypto correctly. The stress of going through an audit was way worse than just paying the taxes would have been.

I'm a CPA and want to emphasize something crucial that hasn't been mentioned yet - the IRS has a "Voluntary Disclosure Practice" that can help if you realize you've made mistakes with crypto reporting in past years. If you're reading this thread and thinking "oh no, I didn't report crypto gains from previous years," you can still come forward voluntarily. The key is doing it BEFORE the IRS contacts you. If you proactively file amended returns and pay what you owe (with interest), they typically won't pursue criminal charges or the harshest penalties. But once they initiate contact with you first, your options become much more limited. For anyone in that situation, I'd strongly recommend consulting with a tax professional who specializes in crypto before taking any action. The rules are complex and the consequences of handling it wrong can be severe.

Something else to consider - Form 8958 is for allocating income between spouses in community property states, but there are exceptions to the 50/50 split rule. Certain types of income might be considered separate property, not community property. For example, if you received an inheritance, gifts specifically to you, or owned property before marriage, that might be separate property. Also, if you have a valid pre-nuptial agreement that defines certain income as separate, that could change how you fill out this form.

Quick tip: the instructions for Form 8958 on the IRS website are actually pretty good. Here's what they say about filling out the columns: "For each line, the amounts in columns (a) and (b) should add up to the combined amount reported on both spouses' returns." So if you earned $80,000 from Company A and it's community income in a community property state, you'd report $40,000 in your column and $40,000 in your spouse's column. Each of you would then report your respective amounts on your separate returns.