Has anyone successfully gotten their broker to reverse the backup withholding? I'm in a similar situation (wrong middle initial) and just noticed nearly $3500 was withheld from a stock sale last month. My broker is saying they can't do anything about it now that the money has been sent to the IRS.

I went through a very similar situation a few years ago when my brokerage had an outdated SSN on file (long story involving a name change). The backup withholding hit me on a large mutual fund redemption and I was panicked about whether the IRS actually received the money. Here's what I learned: The IRS systems are notoriously slow to update, so don't expect to see backup withholding reflected in your online account immediately. Your brokerage is required to send the withheld funds to the IRS within a specific timeframe, and they have strong incentives to comply since they face penalties if they don't. For verification, I found the most reliable approach was to keep detailed records of the withholding from your brokerage statements and wait for your 1099 forms. The 1099-B (for stock sales) will show both your proceeds and the backup withholding amount. This is your official documentation that the IRS will accept. Regarding quarterly payments - you're absolutely right that you can adjust them. The IRS cares about your total tax payments for the year, not the timing or method. If your backup withholding exceeds your projected liability, you can reduce or skip estimated payments accordingly. Just make sure to run the numbers carefully to avoid underpayment penalties.

Anyone know if its possible to transfer an existing solo 401k to another provider without triggering taxes or penalties?? Im in the same boat w/ Solo401k.com and want OUT!!!

I'm dealing with a similar situation but with a different provider - my solo 401k administrator just hit me with a "service enhancement" fee that basically doubled my costs overnight. It's so frustrating how these companies lock you in with reasonable rates and then jack up prices once they think you're committed. What really bothers me is how they frame these increases as "improvements" when the service hasn't actually changed at all. Same portal, same customer service wait times, same basic administration - just a bigger bill. For those looking at alternatives, I'd definitely recommend getting fee schedules in writing before switching. Ask specifically about: annual increases, transaction fees, loan fees, and any "optional" services that might become mandatory later. Also worth asking if they guarantee rates for a certain period. The direct rollover process mentioned by others is straightforward, but make sure your new provider handles all the paperwork properly. The last thing you want is the IRS treating it as a distribution!

This is exactly the kind of arrangement that triggers IRS scrutiny. I've been through several business audits and can tell you that related-party transactions are always red flags, especially when they're the primary source of business activity. The key issue is that you need genuine business substance beyond tax benefits. If 90% of your rentals are to yourself and your husband, the IRS will likely classify this as a personal expense disguised as a business deduction. You'd need to demonstrate: 1. Legitimate profit motive with a realistic business plan 2. Majority of rentals to unrelated third parties 3. Market-rate pricing for ALL transactions 4. Proper business formalities (separate books, commercial insurance, etc.) Even if you structure it correctly, expect increased audit risk. The IRS has specific guidelines for rental businesses and they know all the common schemes. Document everything meticulously and consider getting professional advice before proceeding - the potential tax savings rarely justify the compliance costs and audit risks for small operations like this.

One additional consideration that hasn't been mentioned - you'll need to track personal vs business mileage meticulously. Even with a legitimate rental arrangement, the IRS will want to see that you're not double-dipping on deductions. If you're "renting" your car from your LLC but then trying to deduct business mileage for work trips, that could be problematic. The LLC would typically be responsible for all vehicle-related deductions (maintenance, depreciation, insurance) while you pay rental fees, but you can't also claim mileage deductions as an individual. Also worth considering: if your LLC owns the vehicles, you'll need to transfer titles, which may trigger sales tax in some states and could affect your ability to get favorable personal auto loan rates in the future. The vehicles would also become business assets subject to potential creditor claims if the LLC faces any liability issues. The administrative complexity really adds up quickly, and that's before you even get to the tax implications others have mentioned.

My tax guy told me the easy way to remember it is: SSN is a type of TIN, like how a square is a type of rectangle. All SSNs are TINs, but not all TINs are SSNs. Other types include EINs (for businesses), ITINs (for foreign individuals), PTINs (for tax preparers), etc.

Thanks everyone for the helpful explanations! I feel much better now knowing that my TIN and SSN being the same is totally normal. I was worried there might be some error on my transcript that would mess up my mortgage application. It's reassuring to know this is how it works for most individual taxpayers. Really appreciate this community for clearing up my confusion so quickly!

I've been filing from Germany for the past 4 years and have always used my local PO Box without any issues. The key thing I learned early on is to be proactive about it - I include a brief statement with my return explaining that I'm using the PO Box for reliable mail delivery while residing overseas, and I provide my physical German address as well. What really helped me was calling the IRS during my first year abroad (used a callback service since international calling was impossible) and asking them to put a note on my account about my address situation. The agent told me this is extremely common for expats and they actually prefer when people use reliable mailing addresses rather than risking missed communications. One thing to consider for Singapore specifically - I have colleagues there who mentioned that some apartment complexes have had issues with mail theft, so your PO Box idea is probably the smart move. Just make sure to keep your physical address updated with the IRS in case they ever need to verify your actual residence for any reason.

As someone who's been living in various Southeast Asian countries for the past 6 years while maintaining US tax obligations, I can definitely relate to your concerns about mail reliability in Singapore. Your PO Box approach is absolutely the right call - I've seen too many expats miss critical IRS notices because of unreliable apartment mail delivery. A few practical tips from my experience: First, definitely include that explanatory statement you mentioned. I always attach a simple note saying "PO Box used for reliable mail delivery. Physical residence address: [full street address]" right after page 2 of Form 1040. Second, consider getting a Form 8822 on file with the IRS to officially document both your PO Box and physical address - this creates a paper trail that can help if questions arise later. One thing specific to Singapore that might help: if you're working for a multinational company there, check if they offer any expat tax support services. Many of the larger firms have relationships with tax professionals who specialize in US expat filings and can provide additional peace of mind about address-related compliance issues. The IRS definitely understands that international mail can be problematic - they'd much rather you receive their communications reliably than miss them entirely due to mail delivery issues.