Has anyone dealt with the AMT implications of selling QSBS? I've heard the excluded portion might still be subject to AMT which could really reduce the benefit.

Great question about QSBS from 1994! Just want to add a couple of important points that others haven't mentioned yet: 1) Make sure to verify your company never converted from C-Corp to S-Corp during your holding period - even a brief S-Corp election can disqualify the shares entirely for QSBS purposes. 2) If you're considering the gift strategy, remember that your daughter would get a "stepped-up basis" equal to the fair market value at the time of gift for gift tax purposes, but she keeps your original 1994 basis for income tax and QSBS calculations. This could create some complexity in her tax planning. 3) One thing to watch out for - if this tech company went through any major restructuring, mergers, or spin-offs over the past 30 years, the QSBS qualification might have been affected. The "same corporation" requirement is pretty strict. Given the age of these shares and potential complexity, you might want to get a tax professional who specializes in QSBS to review your specific situation before making any moves. The 50% exclusion on 30 years of tech stock appreciation could be substantial!

I've been dealing with Pathward/HR Block for years and can confirm the timing pattern everyone's describing. Your DDD of 5/15 with fees taken from refund means you're looking at 5/17-5/18 realistically. The military status doesn't affect processing time unfortunately. One thing I learned - if you call HR Block customer service around 2pm EST, they can sometimes tell you if Pathward has received your funds from the IRS yet, even before their online tracker updates. Saved me a lot of anxiety last year when I was in a similar tight timeline situation. Good luck with your PCS move!

Hey Connor! Military spouse here - went through this exact situation during our last PCS to Fort Carson. DDD was 5/12 (Monday) with HR Block/Pathward fee deduction, didn't see the money until Wednesday evening. The delay is super frustrating when you're trying to coordinate movers, temporary lodging, and all the PCS expenses. One thing that helped me was calling my bank to explain the situation - they were able to give me a small courtesy overdraft extension knowing the refund was confirmed and just delayed in processing. Also, if you have USAA or Navy Fed, they sometimes have emergency loan programs for active duty families during PCS moves. The Pathward delay is unfortunately standard, but there are workarounds if you need funds sooner for your move. Hang in there!

I'm so sorry this happened to you! As someone who works in tax compliance, I can tell you that unfortunately the IRS holds taxpayers ultimately responsible for filing on time, even when a preparer fails them. However, you absolutely have grounds for penalty relief. The key is proving "reasonable cause" - which means you acted as an ordinary, prudent person would under similar circumstances. Your situation fits this perfectly: you hired a preparer well before the deadline, provided all documents timely, and paid for the service in good faith. When you write your penalty abatement letter, focus on these facts: the date you engaged the preparer (February), when you provided documents, payment proof, and any communications showing you believed your taxes were being handled. Don't get emotional in the letter - stick to a timeline of facts. Also, definitely file Form 14157 to report this preparer. The IRS takes these complaints seriously, especially with preparers who take payment but don't deliver services. This protects other taxpayers and strengthens your case. File your taxes immediately to stop additional penalties from accruing. If your return is straightforward, tax software might be fastest. For complex situations, find a credentialed preparer (CPA or Enrolled Agent) - just verify their credentials this time! You're not alone in this - preparer negligence cases happen more than you'd think, and the IRS does grant relief when taxpayers can prove they acted responsibly.

I'm so sorry you're dealing with this nightmare! As someone who went through a similar situation last year, I completely understand your frustration and panic. Here's what worked for me: First, file your taxes IMMEDIATELY using software like TurboTax or FreeTaxUSA if your situation is straightforward - don't wait for another preparer. Every day you delay adds more penalties. For the penalty abatement letter, be very specific about dates and include ALL documentation. I wrote something like: "On February 3rd, 2024, I engaged [preparer's name] and provided all required tax documents. On February 10th, I paid $350 for preparation and filing services. On [dates], the preparer assured me via [email/text/phone] that my return was being processed." Then attach screenshots, payment receipts, everything. The IRS actually has a "reasonable cause" provision in IRC Section 6651(a)(1) for situations exactly like this. In my case, they waived over $600 in penalties because I could prove I acted in good faith and the failure was due to circumstances beyond my control. Also, definitely report this preparer on Form 14157. I found out my guy had multiple complaints against him - wish I'd known to check that beforehand! Don't let this person's incompetence ruin your financial life. You did everything right, and the IRS recognizes that when you can document it properly.

I'm curious about this whole issue myself cuz I just started a commission job too. Anyone here know if tax withholding for commissions is different between states? Or is it all federal rules? Like if I move from NY to Texas mid-year, would it affect how my commission is taxed?

One thing I'd add as someone who went through this exact situation - keep detailed records of your paystubs throughout the year! I wish I had done this better my first year in commission sales. When tax time comes, having all your pay stubs organized makes it much easier to verify that your W-2 is accurate and that all the withholding amounts are correct. Sometimes payroll systems can have glitches, especially with variable commission structures. Also, consider setting aside a small percentage of those big commission checks in a separate savings account. Even though you'll likely get a nice refund, it's good to have a buffer in case there are any surprises or if you want to make estimated payments next year to avoid the overwithholding cycle altogether. The peace of mind of knowing you have some tax money set aside is worth it, especially when your income swings are as dramatic as yours. Congrats on the $107k YTD - sounds like you're killing it in sales!

The entertainment industry exception that Mia mentioned is key - but it's more nuanced than just being self-employed. Even self-employed people in most industries can't deduct regular haircuts and grooming as business expenses. For actors and performers, the IRS allows deductions for appearance-related expenses when they're specifically for a role or performance that requires a look significantly different from normal appearance. A regular business haircut still wouldn't qualify, but theatrical makeup, costume pieces, or specialized styling for a specific character might. The "ordinary and necessary" test is critical here - the expense has to be both common in your industry AND directly related to producing income. For most sales jobs, regular grooming doesn't meet this standard because maintaining basic professional appearance is considered a personal responsibility, not a specialized business requirement. If you're curious about your specific situation, I'd recommend getting professional advice since these rules can be tricky to navigate correctly.

One thing I learned the hard way is to keep detailed records even if you're not sure something is deductible. I've been tracking all my work-related expenses in a simple spreadsheet with dates, amounts, and business purpose notes. When the Tax Cuts and Jobs Act changes expire in 2026, some of these employee business expense deductions might become available again for W-2 employees. Having good records from previous years could be valuable if the rules change back. Also, your employment status can change - if you ever become self-employed or start a side business, those same expenses might suddenly become deductible. I switched from W-2 employee to 1099 contractor last year and was glad I had been documenting everything, because suddenly my home office and business phone became legitimate deductions. The key is understanding that tax rules aren't permanent - what's not deductible today might be deductible tomorrow depending on law changes or your employment situation.