Does anyone know if the IRS's automated systems catch these small missing W2s automatically? I've heard they have a computer matching program that eventually catches discrepancies.

I'm in a very similar situation and this thread has been incredibly helpful! I forgot about a small 1099-MISC for some freelance work ($89) that I did in December. Like you, I'm worried about whether to amend or not. Based on what everyone's saying here, it sounds like the consensus is to file the amendment for accuracy but not to stress too much about it delaying your current refund. The automated matching system will eventually catch it anyway, so it's better to be proactive. One thing I'm curious about - has anyone here actually received a notice from the IRS about a small discrepancy like this? I'm wondering what that process looks like if you don't amend and they catch it later through their matching program.

Just wanted to follow up on this thread since I was in the exact same situation! My amended return was also accepted in April with a May 25th DDD, and I can confirm that BoA processed my deposit right on schedule at 3:48am Eastern this morning (Saturday). The amount matched my transcript exactly, and I did receive the mobile notification that Amara mentioned - it's definitely worth setting up those alerts! For anyone still waiting on future deposits, the consistency everyone described here was spot on. No special treatment needed for amended returns once the IRS releases the funds. The banking processing appears to be completely standardized regardless of return type. Hope this helps future folks who find this thread while anxiously waiting for their deposits like I was!

This thread has been incredibly helpful! I'm new to both BoA and the whole tax refund process, so I wasn't sure what to expect. My DDD is coming up next week and I was worried about timing since I have some bills due. Based on everyone's experiences here, it sounds like BoA is really reliable with that early morning posting window. I'm definitely going to set up those mobile notifications that were mentioned - seems way less stressful than constantly checking my account balance. Has anyone noticed if the deposit notifications work reliably, or do they sometimes get delayed? I'd hate to miss the alert and then spend the whole day wondering if it came through or not.

Just wanna mention - my ex and I alternated years claiming our kid when we were dealing with student loans and MFS. So one year she'd claim the kid, next year I would. Our tax guy said this was totally fine as long as we both agreed and it helped maximize our refunds over time. Maybe that's something to think about for future years?

Based on your situation, you should almost certainly claim your child on your return rather than your wife claiming him. Here's why: With your income at $16,000 and your wife's at $105,000, you're in a much better position to benefit from the Child Tax Credit. For married filing separately, the Child Tax Credit begins phasing out at $75,000 of adjusted gross income, so your wife would still get the full credit, but you're so far below that threshold that you'd definitely get the maximum benefit. More importantly, with your very low income, you might also qualify for the Additional Child Tax Credit (the refundable portion), which could give you money back even if you don't owe any taxes. This is huge when your income is this low. Also consider that you took unpaid leave specifically to care for your child - this strengthens your position as the primary caregiver from the IRS perspective, which matters for the dependency claim. I'd strongly recommend using tax software to run both scenarios (you claiming vs. your wife claiming) to see the actual dollar difference, but in most cases with this large of an income gap, the lower-income spouse claiming the child results in significantly better overall tax benefits for the household.

I've been following this discussion with great interest since I'm dealing with a very similar situation. My S Corp owns two rental properties, and we're looking to sell one and buy a replacement through an LLC for liability protection. Based on everything I'm reading here, it sounds like the safest approach is to set up a single-member LLC owned 100% by the S Corp well before starting the exchange process. But I'm still confused about one critical detail: does the qualified intermediary need to be made aware of this disregarded entity structure from the very beginning, or can this be handled transparently? Also, has anyone run into issues with title companies or lenders who don't understand this structure? I'm worried that even if the tax aspects work correctly, we might hit roadblocks during the actual closing process when explaining why an S Corp is selling but we want the replacement property held for the benefit of an LLC. The timing pressure is real - we've already had two serious inquiries on our property and I don't want to miss the market opportunity while we're still figuring out the entity structure. Any insights on how quickly this can be set up properly would be hugely appreciated!

I just went through a very similar situation last year with my S Corp and learned some hard lessons that might save you time and headaches. The most important thing I discovered is that the IRS is extremely strict about the "same taxpayer" requirement - even small deviations can disqualify your entire exchange. Here's what worked for me: I formed a single-member LLC owned 100% by my S Corp about 60 days before listing the property. The key was making sure the LLC was genuinely operational (opened bank accounts, got proper insurance, signed service agreements) rather than just being a paper entity created for the exchange. During the exchange process, my S Corp remained the seller on all documents, but I had the replacement property purchased "for the benefit of" the LLC. After the 180-day exchange period closed successfully, I then transferred the replacement property from the S Corp to the LLC as a non-taxable capital contribution. This gave me the liability protection I wanted while preserving the 1031 benefits. Two critical points: First, make sure your qualified intermediary has specific experience with disregarded entity structures - not all do. Second, keep meticulous documentation showing the S Corp's 100% ownership of the LLC throughout the entire process. Even a brief period where ownership drops below 100% can break the tax treatment and disqualify your exchange. The whole process took about 8 months from LLC formation to final property transfer, but it saved us roughly $85K in capital gains taxes while achieving our liability protection goals. Happy to answer specific questions about the mechanics if helpful!

My sister was a surrogate in 2022 and she DID report the income on her taxes. She reported it as self-employment income on Schedule C, and yes, had to pay both income tax and self-employment tax on it. She was able to deduct some business expenses like special maternity clothes she wouldn't have otherwise needed, mileage to medical appointments, and a portion of her phone bill for surrogacy-related communications. But the base compensation was definitely treated as taxable income.

As someone who's been through a similar situation, I'd strongly recommend consulting with a tax professional who has experience with unusual income situations. The general consensus here is correct - surrogacy compensation is taxable income that should be reported on Schedule C. One thing I learned is that you'll want to keep detailed records of everything related to the surrogacy arrangement. This includes the contract, payment records, any medical expenses you incurred that weren't reimbursed, and documentation of business-related expenses like travel to appointments. The fact that the agency casually mentioned that "most surrogates don't report it" is concerning. Even if that's true, it doesn't make it legal. The IRS considers all income taxable unless there's a specific exclusion, and there's no exclusion for surrogacy compensation. Better to pay the taxes now than face penalties, interest, and potential legal issues later if you're audited. Also consider setting aside about 25-30% of the compensation for taxes if you haven't already, since you'll owe both income tax and self-employment tax on the full amount.