Has anyone mentioned "quid pro quo contributions" yet? The IRS requires specific disclosures for these types of donations where something is given in return. For your golf tournament, you'll need to provide written disclosure statements to sponsors who receive substantial benefits if their payment exceeds $75. Also, don't forget that cash donations over $250 require written acknowledgment from the charity to be tax-deductible. This needs to specifically state whether any goods or services were provided in exchange.

This is such great information from everyone! I'm actually an enrolled agent who helps nonprofits with tax compliance, and I wanted to add a few practical tips for your golf tournament. First, create a simple spreadsheet to track all sponsor contributions and what they receive in return. This will be invaluable when it comes time to issue proper acknowledgment letters. Include columns for: sponsor name, amount paid, description of benefits received, fair market value of benefits, and tax-deductible portion. Second, get everything in writing with the Huntington's Disease Foundation before you start collecting money. You'll want a formal fundraising agreement that specifies how funds will be transferred, who issues tax receipts, and what documentation they'll provide to your sponsors. Third, consider setting up separate sponsorship tiers - some that are purely charitable donations (no benefits) and others that include golf/dinner packages. This makes the tax calculations much cleaner for everyone involved. The IRS Publication 526 has excellent guidance on charitable contributions that might be helpful for your sponsors to reference. Good luck with your tournament - sounds like it's going to be a great event for an important cause!

I'm going through this exact same thing right now! Got my 5071C letter in late September and completed ID verification through ID.me about 2.5 weeks ago. Still stuck on "processing" and the waiting is driving me crazy. Reading through everyone's experiences here has been really helpful though. It sounds like 6-9 weeks after verification is pretty typical, but the range can be so wide. I'm definitely going to check my transcript once I can access it and look for those status codes everyone keeps mentioning (570, 571, 846). The most reassuring thing from this thread is learning that the WMR tool is basically useless during this phase - at least I can stop obsessively checking it every day! I'm also considering trying that taxr.ai service once I can get to my transcript, since it sounds like it explains everything in normal language instead of confusing IRS codes. This waiting game is absolutely brutal when you're counting on that money, but it's comforting to know so many others are in the same boat. We all got through the ID verification part which seems to be the biggest hurdle. Fingers crossed we're all on the shorter end of that timeline!

I'm in almost the exact same situation! Got my 5071C letter in late September, completed ID verification through ID.me about 3 weeks ago, and I'm also stuck on that "processing" status. The waiting is absolutely killing me, especially since I really need that refund money. Reading through everyone's experiences here has been both helpful and terrifying - the timeline seems to vary so wildly from 4 weeks to several months! I had no idea the WMR tool was basically useless during this phase, so at least now I can stop obsessively checking it every single day. I'm definitely going to check my transcript once I can access it and look for those status codes (570, 571, 846) that everyone mentioned. Might also try that taxr.ai service to help decode everything since IRS codes might as well be written in ancient hieroglyphs to me. It's somewhat comforting to know so many others are going through this same frustrating process. At least we all made it through the ID verification hurdle! Fingers crossed we're all on the shorter end of that 6-9 week timeline. This waiting game is brutal but we'll get through it eventually!

Have you checked your state's department of revenue website specifically? Many states have their own "Where's My Refund" tools that are completely separate from the federal IRS site. Also, what state are you in? Some states are notoriously slow with processing amended returns - California and New York can take 6+ months sometimes. Did you e-file or paper file your state amendment?

Just to add my experience - I filed amended returns for both federal and state last year, and the difference in processing times was incredible. Got my federal refund in about 12 weeks, but my state refund (Pennsylvania) took almost 8 months! The PA Department of Revenue website barely had any updates during that time either. What really helped me was setting up alerts on both the IRS "Where's My Amended Return" tool and my state's system so I wasn't constantly checking manually. Also learned that some states like mine still require paper filing for certain amended returns, which slows things down even more compared to federal e-filing.

Can someone explain why my tax software is showing completely different numbers for the SALT cap in different sections? On one screen it shows I exceeded the cap by $8,235 but then in the summary section it says I'm under the cap. I'm so confused!

This is a great question that trips up a lot of people! The SALT deduction cap is one of the most confusing parts of the current tax code. Just to add some context to the excellent explanations already given - the reason you're seeing such a dramatic difference between 2024 and 2025 is likely because: 1. You mentioned buying a house in late 2024, so 2025 is your first full year of property tax payments 2. Property taxes can easily be $15k-25k+ annually depending on your location and home value 3. Combined with state income taxes, this quickly pushes you over the $10k cap One thing to keep in mind is that this SALT cap is currently set to expire after 2025, so it may not be a permanent limitation. However, nothing is guaranteed until Congress acts. Also, make sure you're not double-counting any property taxes that might have been prorated at closing - those should only be deducted once, in the year you actually paid them to the tax authority (not necessarily when they were due).

Has anyone successfully checked their S corp election status online? I know the IRS Business Account system shows a lot of other info, but does it show anything about Form 2553 status or effective date?

I'm going through this exact same situation right now! Filed my Form 2553 about 8 weeks ago and haven't heard anything back yet. My tax preparer keeps asking me about the status because we need to know how to handle my quarterly payments. Based on what everyone's saying here, it sounds like I'm still within the normal timeframe, but the uncertainty is really stressful when you're trying to make important financial decisions. I think I'm going to try calling the IRS using that Claimyr service that @Jamal Anderson and @QuantumQuest mentioned - sitting on hold for hours just isn't feasible with my work schedule. Has anyone else had experience with their accountant or tax preparer during this waiting period? I'm wondering if there's a standard way CPAs handle the interim period before the CP261 Notice arrives.