Just wanted to add one more verification step that helped me when I was in a similar situation - after you enter your payment in TurboTax, check that your total payments on the final review screen match what you actually paid to the IRS throughout the year. I caught an error this way where I had accidentally double-entered one of my payments. TurboTax was showing total payments that were higher than what I actually paid, which would have resulted in a larger refund than I was entitled to (and potentially issues with the IRS later). To verify: add up your extension payment + your additional payUSAtax payment + any other payments you made, and make sure that total matches what TurboTax shows on your final forms. It's a simple check but can save you from headaches down the road!

I went through this exact scenario two years ago and can confirm what others have said - your additional payment goes on Schedule 3 Line 9. But here's something I learned the hard way that might help you: make sure to keep detailed records of the payment method and date. I made my additional payment through Direct Pay (similar to payUSAtax) and when I got my tax transcript later, the IRS had the payment listed but with a slightly different date than what I had recorded. It didn't affect my return, but it caused some confusion when I was trying to reconcile everything. Also, if you're cutting it close to the deadline, don't stress too much about getting this perfect on your first try. You can always amend your return later if you discover you made an error with how you reported the payments. The important thing is that the IRS has received your money - how it's categorized on your return can be corrected if needed.

Does anyone know if using a tax professional to file the late Form 2553 increases the chances of acceptance? I'm in this exact situation, and I'm wondering if it's worth paying someone to handle it or if doing it myself is just as effective as long as I'm honest about the reason for lateness.

I went through this exact same situation last year and want to share what worked for me. I missed the 75-day deadline by about 3 months and was terrified the IRS would reject my application. For the reasonable cause statement, I kept it simple and honest: "As a first-time business owner, I was unaware of the 75-day election deadline requirement for Form 2553. Upon learning of this requirement through research and consultation, I am filing this election promptly." That's basically it - no elaborate excuses or sob stories. The key things that helped my case: 1. I attached the reasonable cause statement as a separate page (don't try to squeeze it into margins) 2. I made sure ALL shareholders signed - even if it's just you 3. I sent it certified mail with return receipt 4. I clearly indicated my desired effective date Got approved in about 7 weeks. The IRS really is more understanding than people think, especially for genuine first-time business owner mistakes. Just be honest about not knowing the deadline and file as soon as you can. Good luck!

Just wanted to add - I'm a dental practice consultant, and this situation is actually pretty common. One thing to watch for: if you purchased any specialized dental equipment for the practice that you're taking to the new location, make sure you document the transfer carefully. The IRS might consider this a "sale" from one business to another, which could trigger depreciation recapture if not handled correctly. Your new business would likely need to purchase these assets at fair market value from the old business. Also, don't forget about any security deposits for office space, insurance premiums, etc. Some of these might be partially refundable, which would offset some of your losses.

I went through a similar situation when I had to dissolve my consulting LLC before it generated any revenue. One thing that really helped was keeping detailed records of everything - not just receipts, but also documentation showing the business purpose of each expense and dates when they were incurred. For the IRS filing, since you elected S-corp status, you're absolutely required to file that final 1120-S even with zero income. The IRS computer system is expecting that return based on your election. Miss it and you could face penalties. Regarding your startup expenses, the good news is that dental practice expenses from one location can generally be carried over to another dental practice since it's the same line of business. The key is proper documentation and making sure your new Colorado practice is set up to properly inherit these costs. One tip: consider whether any of your equipment purchases might qualify as assets that can be directly transferred rather than treated as startup costs. Things like dental chairs, computers, or other equipment might be handled differently for tax purposes than purely startup expenses like licensing fees.

Just checked my NetSpend app after seeing Mikayla's update and mine hit too! Got my deposit at 2:47pm EST today (3/17). For anyone still waiting, it looks like NetSpend is releasing them in batches throughout the afternoon. I've noticed they usually do deposits in waves - early morning (12am-6am) for some people, then afternoon batches like this one. Don't panic if you haven't seen yours yet - there might be another wave later today or early tomorrow morning. The important thing is that your transcript shows the 3/17 date, which means the IRS has already sent the payment to NetSpend.

Still waiting here with a 3/17 DDD on my NetSpend account. It's now 4:30pm EST and nothing yet, but reading through everyone's experiences is actually pretty reassuring! Sounds like NetSpend really does process these in multiple waves throughout the day. I've been a NetSpend customer for about 3 years and this is exactly how it went last year - got mine around 6pm even though others got theirs much earlier. For anyone else still waiting, it seems like the key thing is having that 846 code with the 3/17 date on your transcript, which means the IRS has definitely sent the payment. NetSpend's batch processing just takes time to work through all the deposits. Going to try to be patient for a few more hours before I start worrying!

I've been helping parents with custody tax situations for years, and your confusion is totally understandable! Since you and your ex already agreed she's claiming your daughter this year, you actually don't need to worry about the months calculation for dependency purposes at all. However, you should still enter your daughter's information in TurboTax - just make sure to answer "Yes" when it asks if someone else can claim her as a dependent. This tells the software you're not claiming the dependency exemption, but it will still check what other benefits you might be eligible for. For the months question, with true 50/50 custody where your daughter is with you consistently throughout the year, you could technically count all 12 months since she's with you part of every month. But what really matters for other credits and filing status is the actual number of nights she stays with you. The important thing is being consistent and honest about your arrangement. Don't skip entering her info completely - you might miss out on credits you're eligible for even though you're not claiming her as a dependent. The tax code recognizes that parents can have different roles (custodial vs. claiming dependent) in shared custody situations.

I've been through this exact same situation with my own shared custody arrangement! The key thing to remember is that since you and your ex already agreed she's claiming your daughter as a dependent this year, you don't need to stress about the months calculation for dependency purposes. However, you absolutely should still enter your daughter's information in TurboTax - just answer "Yes" when it asks if someone else can claim her as a dependent. This way the software knows not to give you the dependency exemption but will still check what other benefits you might qualify for. For shared custody situations like yours where your daughter is with you part of every month consistently throughout the year, you could technically count all 12 months since the IRS rule is that if a child lives with you for any part of a month, you can count the whole month. But what really matters for other credits and filing status determinations is the actual number of nights. Don't make the mistake of skipping her information entirely - you might miss out on credits you're legitimately eligible for even though you're not claiming her as a dependent. The tax system does recognize that in shared custody arrangements, one parent can claim the dependency while the other parent might still qualify for certain benefits based on their custody time. The whole process can be confusing, but as long as you're honest about your actual custody arrangement and let TurboTax know someone else is claiming her as a dependent, you should be good to go!