Day 25 here still nothing... starting to lose hope tbh

Filed mine on February 2nd and same exact situation - blank transcripts, WMR just says "processing" with no updates. Called the IRS yesterday and they basically gave me the standard "wait 21 business days" response even though I explained it's been over that already. Really frustrating when you're counting on that refund! Going to try checking that taxr.ai tool everyone's mentioning to see if it can give me more insight into what's actually happening with my return.

Has anyone considered the daughter's tax situation in Bermuda? I'm not familiar with their tax laws specifically, but some countries have different rules for receiving foreign assets as gifts. Might be worth checking if there are any reporting requirements or taxes on her end.

One thing I'd strongly recommend is consulting with a tax professional who specializes in international transactions before you move forward. While the annual gift exclusion limits are straightforward ($18,000 per person for 2025), the complexity comes from the interplay between US tax law and potential future complications for your daughter. A few additional considerations: if you're gifting appreciated stocks, your daughter will inherit your cost basis, which could result in significant capital gains taxes when she eventually sells. You might want to consider gifting stocks with the lowest appreciation or even cash instead. Also, keep detailed records of everything - the date of transfer, fair market value, and any correspondence with brokerages. Since your daughter is in Bermuda (which has favorable tax laws), the bigger concern is ensuring you're compliant on the US side. Form 709 will be required if you exceed the annual exclusion, and proper documentation is crucial for both current reporting and future estate planning purposes.

@Mateo, you're in great shape for qualifying! At $46k, you're well within the Premium Tax Credit range. Since you're a chef, I'd definitely recommend taking the advance payments option - it'll help your monthly budget tremendously while you're waiting for employer benefits to kick in. One thing to keep in mind is that your 6-month waiting period for employer insurance actually works in your favor here. You'll qualify for the full Premium Tax Credit during those months since you won't have access to affordable employer coverage. Just make sure to cancel your Marketplace plan and transition to your employer plan once it becomes available - the PTC stops once you have access to employer insurance. The income calculations can definitely be confusing, but Healthcare.gov's application process will walk you through it step by step. They'll ask for your expected 2025 income, and based on that $46k estimate, you should get a decent credit amount. Just remember to update them if your income changes significantly throughout the year - especially important in restaurant work where you might pick up extra shifts or catering gigs. Don't stress too much about the exact calculations - focus on getting enrolled during the open enrollment period and you'll be set!

@Mateo, you're absolutely going to qualify for the Premium Tax Credit with that income! At $46k for a single person, you're well within the eligibility range (which goes up to around $58k for 2025). Since you're coming from restaurant work myself, I totally get the income uncertainty. Here's what I learned when I was in your exact situation: definitely take the advance payments (APTC) - it'll reduce your monthly premiums right away instead of waiting until tax time. This was a lifesaver for my budget during the gap period. One practical tip: when you're estimating your 2025 income on the application, consider potential variables like overtime during busy seasons, holiday bonuses, or if you might pick up catering gigs on the side. Restaurant income can fluctuate more than you expect. I'd suggest maybe estimating around $48k instead of exactly $46k to give yourself a small buffer. Also, mark your calendar for when your employer insurance kicks in (6 months from your start date). You'll need to cancel your Marketplace plan at that point since the PTC only applies when you don't have access to affordable employer coverage. The transition is pretty straightforward - Healthcare.gov will guide you through it. Don't overthink the application process - it's actually more user-friendly than the IRS website makes it seem! You've got this.

I see a lot of advice here about the standard procedure, but let me share what actually happens in practice with DD rejects. The bank will reject the ACH transfer due to the account number mismatch, which triggers an automatic refund trace in the IRS system. This creates a TC 971 code on your transcript with an action code of 281. Once this happens, the paper check issuance is automatically scheduled, usually with a 2-3 week timeframe. The most reliable way to track this is actually through your tax transcript rather than WMR. If you can access your transcript online, look for these codes and you'll know exactly where you stand in the process. Such a relief when I finally figured this out after dealing with the same issue!

This is really reassuring to hear from everyone who's been through this exact situation! I'm feeling much better about it now. @Maria Gonzalez - that's super helpful about the transcript codes. I just checked my transcript online and I can see a TC 971 with action code 281 dated about a week ago, so it looks like the rejection already happened and the check process has started. For anyone else in a similar boat, it seems like the key takeaways are: 1) The IRS system handles this automatically, 2) Check your transcript for the TC 971/281 codes to confirm the process has started, and 3) Be patient as it can take 2-6 weeks total. Thanks everyone for sharing your experiences - this community is so helpful!

Does anyone know what happens if I just dissolve this foreign corporation without filing a final non-dormant 5471? I'm in a similar situation - keep paying to file forms for a dormant company because I'm afraid of the headache of dissolution. But it's been dormant for 8 years now - wondering if I can just let it go and stop filing.

I've been dealing with a similar situation for the past 6 years with a dormant UK subsidiary. What finally convinced me to try doing it myself was realizing that my CPA was literally just copying the same information year after year - basically charging me $750 to update dates on an identical form. For anyone hesitant about the DIY approach, I'd recommend starting by comparing your last few years of filed 5471s. If they're nearly identical (which they should be for truly dormant entities), that's a good sign the form is straightforward enough to handle yourself. One thing I learned the hard way - make sure you're crystal clear on what "dormant" actually means to the IRS. My corporation had a small bank account that earned like $12 in interest one year, and I almost filed it as dormant when technically it wasn't. The interest income, even though tiny, would have made it non-dormant for that year. Caught it just in time after doing more research. The peace of mind from understanding exactly what you're filing (rather than just trusting someone else did it right) has been worth the effort for me.