Hey I'm having this exact same issue! But I think my employer messed up because I definitely did NOT contribute to a dependent care FSA at all - I don't even have kids or dependents. But somehow there's $5000 in Box 10 of my W-2. What should I do in this case? Ask for a corrected W-2?

For anyone still confused about Box 10 on W-2, here's a super simplified explanation: Your employer takes money from your paycheck BEFORE taxes (so you don't pay tax on that money at that time) and puts it in a special account for dependent care expenses. When tax time comes, the government says "hey remember that money you didn't pay taxes on? We need to account for it." It's not that you're paying extra taxes - you're just "settling up" on money that wasn't taxed during the year. The BENEFIT is that if you have other child care expenses beyond the $5000, you might qualify for additional tax credits. So you get the $5000 tax-free PLUS potentially more tax benefits for additional expenses.

Ive seen this happen alot lately. The IRS is backed up worse than ever this year smh

That message is totally normal! It just means your return has moved from the initial received stage into actual processing. The bars on WMR often disappear when this happens - it's not a sign of any problems. Processing times can vary a lot this year, but most returns are getting processed within 21 days. Just keep checking periodically and you should see it update to approved soon!

What kind of partnership is this? If it's a publicly traded partnership (PTP), many of them provide estimated K-1 information on their investor websites ahead of the actual K-1s. Have you checked if your partnership offers this?

Real estate partnerships are notorious for late K-1s - I feel your pain! Since you mentioned it's a development partnership, one thing to consider is that these often have more complex allocations and potential recapture issues that make estimates particularly tricky. If you do decide to go the extension route (which sounds like the consensus here), make sure your estimated payment accounts for any potential depreciation recapture or Section 1231 gains that might pop up on the final K-1. Development partnerships can have some nasty surprises when properties are sold or refinanced. Also, if this partnership consistently files late every year, you might want to consider asking them to change their tax year end or discuss with other partners about pressuring management to get organized earlier. Sometimes a coordinated effort from multiple partners can motivate them to be more timely with their filings.

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!

This happened to me last year! It was like my return fell into a black hole - no information, blank transcripts, and the dreaded "still processing" message for weeks. It's like being stuck in tax purgatory with no way out! I called FIFTEEN times before getting through to someone who actually knew what was happening. Turns out my employer had submitted a W-2 with a typo in my SSN, which didn't match my return. The crazy thing is, it wasn't even my mistake! The good news? Once they figured it out, my refund appeared like magic - direct deposited exactly 3 days after they resolved the issue. No letter, no warning, just money in my account one morning. The IRS works in mysterious ways, like a capricious tax deity who randomly decides when to bless you with your own money back.

I'm going through the exact same thing right now! Filed 2/15, accepted same day, and I've been stuck in processing limbo ever since. Called last week and got the same "error department" explanation with zero details about what the actual error could be. What's really frustrating is that I used the same tax software as last year, same situation (W-2 employee, standard deduction), and last year I had my refund in 10 days. This year it's like my return disappeared into the Bermuda Triangle. The agent I spoke with also mentioned the 10-week wait, but couldn't tell me if that was from filing date or acceptance date. Did they clarify that for you? And did they give you any sense of whether you'd get a letter explaining the issue, or if it might just resolve on its own? It's somewhat comforting to know I'm not alone in this, but man, the lack of transparency from the IRS is maddening!