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I went through this exact same confusion with my amended return last year! The "As of date" is basically the IRS's way of timestamping when they last touched your account - think of it like a "last updated" field you'd see on any computer system. Your original filing date of January 27th is still locked in their system and won't change. What you're seeing with the different "As of date" is just their processing cycles updating as your amended return moves through their workflow. Since you filed your amendment on March 12th, that triggered new activity on your account. Here's what I learned from my experience: the date will keep updating throughout the 16-20 week processing period. Sometimes it moves forward just a week or two (normal system cycles), other times it might jump ahead by months when they're actively reviewing your case. When I was waiting for my amended refund, I noticed the date started updating more frequently about 2-3 weeks before I actually received my refund - seemed like that was when it hit the final review stage. Don't stress about the date changes - they're actually a good sign that your return is progressing through their system rather than just sitting idle somewhere!
This is super helpful! I'm dealing with the exact same situation right now - filed my original return in February, then had to amend in May when I caught an error with my HSA contributions. My "As of date" has been all over the place and I was starting to panic thinking something was wrong with my filing. It's really reassuring to hear that more frequent updates toward the end might actually indicate progress! I've been obsessively checking my transcript (probably not the healthiest habit lol) and noticed the date has moved forward three times in the past two weeks after being stuck for over a month. Based on what you're saying, maybe that means I'm getting closer to resolution? Thanks for sharing your experience - it definitely helps manage the anxiety of waiting for an amended return to process!
@Oliver Schmidt That definitely sounds like progress! Three updates in two weeks after being stuck for a month is usually a really good sign. When I was going through my amendment process, I noticed a similar pattern - my As "of date would" sit static for weeks, then suddenly start moving more frequently right before things wrapped up. The fact that yours has been updating regularly lately suggests your return is probably in the final review stages. In my case, I got my refund about 10 days after I started seeing those frequent date changes. Of course every situation is different, but the increased activity on your account is definitely encouraging! I totally get the obsessive transcript checking - we ve'all been there! Try to stay patient, it sounds like you re'probably getting close to the finish line.
I'm going through almost the exact same timeline as you! Filed originally in late January, got a review letter in February, and submitted my amended return in March. The "As of date" confusion had me completely stumped too. From what I've learned lurking in tax forums and talking to others who've been through this, the "As of date" is basically just a system timestamp showing when the IRS computers last did anything with your account. It has nothing to do with your actual filing date - that January 27th date is permanently recorded in their system. When you filed your amendment in March, that created new activity on your account, which is why you're seeing the date change. Think of it like when you update a document on your computer and it shows a "last modified" date - same concept. The good news is that seeing updates to this date generally means your amendment is moving through their processing pipeline rather than just sitting in a pile somewhere. I've noticed mine updates every few weeks, sometimes jumping forward by a month or more when they're actively working on it. Hang in there - the 16-20 week wait is brutal, but at least we know our amendments are in the system and progressing!
Great thread with lots of helpful information! I just completed my Form 706NA payment process last week and wanted to share a few additional tips that might help others: 1. Double-check your bank account information before submitting - I made a typo in my routing number initially and had to start over. The IRS system caught it during verification, but it delayed my payment by several days. 2. If you're making a large payment (like the $34,500 mentioned in the original post), some banks have daily ACH limits that might prevent the transaction from going through. I had to call my bank to temporarily increase my limit for the estate tax payment. 3. Keep multiple copies of your confirmation page and save it as a PDF. I printed three copies and emailed the PDF to myself as backup. The confirmation number is crucial if you ever need to trace the payment. The whole process was actually smoother than I expected once I figured out the right options to select. The key is just being very careful about the tax year selection (as Vanessa mentioned) and making sure all your information is exactly correct before hitting submit.
Thanks for these practical tips! The bank daily limit issue is something I never would have thought about. I'm dealing with a similar situation where the estate owes around $28,000, and my bank does have ACH limits. Did you have to provide any special documentation to your bank to increase the limit temporarily, or was it just a phone call? I want to make sure I have everything ready before I attempt the payment since I'm already cutting it close to the deadline.
@CyberSamurai For my bank, it was just a phone call to their business banking department (since I was acting as executor). I explained that I needed to make a one-time IRS estate tax payment and they temporarily raised my ACH limit for 48 hours without any additional documentation. However, different banks have different policies - some might require you to provide a copy of your letters testamentary or proof that you're the authorized representative for the estate. I'd recommend calling your bank a day or two before you plan to make the payment, just to be safe. Some banks can make the change immediately over the phone, while others might need 24 hours to process the limit increase. Given that you're close to the deadline, definitely don't wait until the last minute to sort this out! Also, if your bank gives you any trouble, you could consider using a wire transfer instead, though that typically comes with higher fees. The important thing is getting the payment submitted on time.
I went through this exact process about 6 months ago and can confirm that the Direct Pay method works well for Form 706NA. One thing that really helped me was calling the IRS taxpayer assistance line beforehand to confirm I was selecting the right options - they verified that using "Form 706" in the system covers both regular 706 and 706NA filings. A few additional tips from my experience: - Make sure you have the estate's EIN ready before starting the payment process - The system will ask for the "primary taxpayer" - use the decedent's name exactly as it appears on the 706NA form - If you're making the payment close to the due date, consider doing it in the morning rather than late at night to avoid any potential system maintenance windows The confirmation email came through within about 10 minutes, and I was able to track the payment status through my bank. The whole process took less than 15 minutes once I had all the information ready. Don't stress too much about it - the IRS payment system is actually pretty straightforward once you know which buttons to click!
This is really helpful, thank you! I'm just starting this process and feeling overwhelmed. Quick question - when you called the IRS taxpayer assistance line, how long did it take to get through? I've been dreading having to call them because I keep hearing horror stories about multi-hour wait times. Did you have any specific number you called or just the general taxpayer assistance line? I want to get confirmation before I submit my payment too, but I'm worried about spending my whole day on hold.
I went through this exact transfer last year and want to share what I learned the hard way. The key insight is that even though you own both entities, the IRS treats the S-Corp and LLC as separate for this transaction. My CPA initially told me it would definitely be taxable, but after doing more research, we discovered that the specific facts matter enormously. In my case, the property had mortgage debt that was close to my adjusted basis in the S-Corp stock, which actually helped minimize the taxable gain. Here's what I wish I had known upfront: get a formal appraisal done before the transfer, document everything with proper corporate resolutions, and consider whether you can structure this as part of a larger reorganization rather than a simple distribution. Also, if your S-Corp has been taking depreciation on the property, you'll face depreciation recapture as ordinary income regardless of how you structure the transfer - there's no getting around that part. One more thing - check if your state has any transfer tax exemptions for reorganizations between related entities. In my state, I was able to avoid the transfer tax by filing the right paperwork, but the window for claiming the exemption was narrow. The bottom line is this is definitely doable without massive tax hits, but the details of how you structure and document it matter a lot. Don't try to wing it based on general advice.
This is exactly the kind of real-world insight I was hoping to find! The point about mortgage debt being close to your adjusted basis is particularly interesting - can you explain how that helped minimize the taxable gain? I'm trying to understand if that's something that might apply to my situation as well. Also, when you mention structuring this as part of a larger reorganization rather than a simple distribution, what does that typically involve? Is that where some of the more complex tax code sections that others have mentioned (like the F reorganization) would come into play? I'm definitely planning to get professional help rather than trying to figure this out myself, but understanding these nuances helps me ask better questions when I do consult with a tax professional. Thanks for sharing your experience!
I've been following this thread closely since I'm dealing with a very similar situation - transferring commercial real estate from my S-Corp to a single-member LLC. After reading through all these experiences, I decided to take a multi-pronged approach to make sure I get this right. First, I'm getting the property professionally appraised to establish clear FMV documentation. Second, I'm consulting with a tax attorney who specializes in business entity restructuring (not just a regular CPA) to explore whether any of the reorganization provisions mentioned here might apply to my specific situation. What's become clear from this discussion is that there's no one-size-fits-all answer - it really depends on your specific facts like the property's basis, any debt on the property, depreciation taken, your overall tax situation for the year, and state law implications. I'm also planning to model out the tax consequences of different timing scenarios. If I'm going to face some unavoidable taxes anyway (like depreciation recapture), I want to make sure I'm doing it in a year when I can best manage the overall tax impact. One question for those who've been through this: how far in advance did you start planning the transfer? I'm wondering if there are any year-end planning opportunities I should be considering now for a transfer next year.
Your multi-pronged approach sounds really smart! I'm just starting to research this same issue for my own S-Corp property transfer, and this thread has been incredibly helpful in understanding all the moving parts I need to consider. One thing I'm curious about from your planning - are you considering the impact of potential tax law changes? I've heard there might be changes to capital gains rates or S-Corp treatment in upcoming legislation. Not sure if that affects the timing of when to execute a transfer like this. Also, has anyone mentioned whether the size or type of property matters? I'm dealing with a small rental property vs. some of the commercial properties others have mentioned, wondering if that changes any of the strategies or complications involved. The point about getting a specialized tax attorney rather than just a CPA is really valuable - I hadn't thought about that distinction but it makes sense for something this complex.
Just want to add that I had a similar massive refund one year ($18k when I normally got $1-2k) and I filed it without questioning because, hey, free money right? BIG MISTAKE. Two years later I got hit with an audit, had to pay back the entire amount PLUS penalties and interest. Ended up owing over $23k and it destroyed my finances for years. Don't mess with the IRS. If something seems fishy, it probably is.
This is exactly why I always tell people to be extremely cautious with new tax preparers, especially when they promise unusually large refunds. What you're describing sounds like classic "ghost preparation" tactics where preparers manufacture deductions and credits to inflate refunds. The -$35,000 "additional income" combined with $30,000 in credits is a huge red flag. These numbers suggest your preparer may be claiming fake business losses or inappropriate refundable credits like the Earned Income Tax Credit that you don't actually qualify for. My advice: DO NOT file this return. Get copies of everything your preparer did and take it to a reputable CPA or enrolled agent for a second opinion. Ask them to explain every single line item that's different from your previous returns. Also document everything about your interactions with this preparer - you may need it if you decide to report them to the IRS. The fact that she's giving you conflicting refund amounts ($25k vs $35k) is another major warning sign. Better to get a legitimate smaller refund than deal with years of IRS problems, penalties, and having to pay back fraudulent refunds with interest.
This is such solid advice. I'm actually dealing with something similar right now - my preparer is claiming I qualify for credits I've never heard of before. The whole "trust me" response when you ask for documentation is the biggest red flag possible. One thing I'd add is to make sure you get copies of ALL the forms before you leave the preparer's office. Don't just take their word for what's on the return. I learned this the hard way when my preparer claimed certain deductions were "standard" but couldn't show me where they came from when I asked later. @f014fc63b237 You're smart to question this now rather than after filing. The peace of mind from getting a second opinion is worth way more than any potential refund.
Giovanni Greco
This is probably a dumb question but does anyone know how long it typically takes for a mailed return to show up in the "Where's My Refund" tool? I mailed mine 3 weeks ago and it still says "Return Not Received" when I check.
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Fatima Al-Farsi
ā¢Not a dumb question! Paper returns take FOREVER to process these days. Last year I mailed mine and it took almost 6 weeks before it showed up in the system. The IRS says it can take 4-6 weeks just to enter it into their system, and then another 8 weeks or more to process. E-filing is way faster but obviously that doesn't help if you've already mailed it.
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Demi Hall
Just wanted to add one more important point about the postmark rule - make sure you're using regular USPS mail or an approved private delivery service like FedEx or UPS. I learned the hard way that some local courier services don't count for the postmark rule because they're not IRS-approved delivery services. Also, if you're mailing multiple forms (like your return plus an extension), make sure they're all postmarked by the deadline. I once sent my extension on time but forgot to include a required payment voucher, and had to send that separately. Even though my extension was valid, I still got hit with penalties because the payment was late. One last tip: if you're really stressed about timing, you can actually hand-deliver your return to certain IRS offices, but they have very limited hours and locations for this. Most Taxpayer Assistance Centers stopped accepting returns during COVID and haven't resumed that service. But it's worth checking if you have one nearby and you're cutting it really close!
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Freya Collins
ā¢Thanks for mentioning the approved delivery services! I didn't realize local couriers wouldn't count. Quick question - do you know if those private delivery services like FedEx actually give you a receipt that shows the equivalent of a "postmark" date that the IRS would accept? I'm wondering if their tracking receipts would be sufficient proof of timely filing, or if there's something specific I need to request when shipping with them.
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