Just wanted to share my recent experience with TC290! Got the code on my transcript about 10 days ago after my examiner call, and I've been obsessively checking for updates every day since then. Based on what everyone's saying here, it sounds like I'm right in that 2-4 week window that most people are experiencing. Really hoping mine comes through soon because like many of you, I've got bills piling up and this refund would be a huge relief! It's reassuring to see so many people getting their money after TC290 posts - gives me hope that the end is actually in sight after months of waiting. Will definitely update this thread when mine hits! 🤞💰

Just went through this same situation! Had my examiner call about 3 weeks ago and TC290 posted the next day. Got my refund deposited exactly 18 days after the code appeared - so right in that 2-3 week sweet spot everyone's mentioning. The wait felt eternal but once TC290 shows up, you're definitely in the final phase. Keep checking your transcript every few days and try not to stress too much (easier said than done, I know!). The IRS may be slow but they do follow through eventually. Hang in there! 💪

Another option nobody mentioned - you could elect to treat your TFSA as a foreign grantor trust and file Form 3520-A instead of Form 3520. This might sound more complicated, but some cross-border accountants prefer this approach because it provides more clarity on how to report income. Also, check if you're required to file FBAR (FinCEN Form 114) for your TFSA. The threshold is lower than Form 8938 - just $10,000 across all foreign accounts combined at any point during the year.

I went through this exact situation two years ago when I moved from Vancouver to California. The TFSA reporting requirements are genuinely confusing because the IRS guidance has been inconsistent over the years. Here's what I learned after consulting with a cross-border tax specialist: You'll likely need to file Form 8938 since your TFSA value exceeds the threshold ($50k for single filers living abroad, but lower thresholds apply once you become a US resident). For Form 3520, while the IRS has indicated they won't aggressively pursue penalties for TFSAs, many professionals still recommend filing it for complete compliance. The most important thing people don't realize is that you need to report ALL income generated by your TFSA on your US tax return - interest, dividends, capital gains, everything. The "tax-free" benefit only applies in Canada, not for US tax purposes. Given the complexity and potential penalties, I'd strongly suggest finding a CPA who specializes in US-Canada cross-border tax issues, even if it's just for a consultation. The peace of mind is worth the cost, and they can help you decide whether to keep the TFSA or close it based on your long-term plans. Also don't forget about FBAR filing if your combined foreign accounts exceed $10k at any point during the year - that's separate from the other forms and has its own penalties for non-compliance.

Quickbooks Self-Employed has been a lifesaver for me with this exact problem. It lets you swipe left/right to categorize transactions as business or personal, and you can split transactions too if needed. Way easier than sorting through everything manually at tax time.

I went through this exact same situation with my consulting LLC last year! What really helped me was setting up a formal reimbursement system retroactively. I created expense reports for all the personal funds I'd used for business expenses, then had my LLC "reimburse" me by transferring money from the business account to my personal account. The key is maintaining that paper trail showing these were legitimate business expenses that you temporarily covered. I used a simple Excel template to document each expense with date, amount, vendor, business purpose, and which personal account I used. Then I'd do monthly reimbursements to myself. Your accountant will definitely appreciate that you've been tracking everything - that's honestly the hardest part. The fact that you have receipts and documentation puts you way ahead of most small business owners. Just make sure going forward you try to use business accounts when possible, but don't stress too much about the occasional personal payment as long as you document it properly.

Chiming in as someone who also had a dormant LLC - don't forget about tax software options. I used TaxSlayer last year and it guided me through what I needed for my zero-activity LLC completely. Most of the major tax software options (TurboTax, H&R Block, etc.) have sections specifically for handling business returns, even with no income or expenses.

I went through this exact same situation with my LLC last year! The short answer is yes, you'll likely need to file something even with zero activity. Since you mentioned it's been completely dormant, you'll probably need to file a Schedule C (Form 1040) showing all zeros - this is required for single-member LLCs even when there's no business activity. The key thing to remember is that the IRS wants to see that you're reporting your business status, even if that status is "no activity." It's basically confirming that you didn't have unreported income rather than just ignoring the business entirely. Also, don't overlook your state requirements! Many states have annual filing fees or franchise taxes that are due regardless of business activity. Since you're planning to actually start using the LLC now, you'll want to make sure you're in good standing at both the federal and state level before you begin operations. I'd recommend checking with your state's Secretary of State website for any annual report requirements and deadlines - these are often separate from tax filings and can have penalties if missed.

This situation is unfortunately more common than you'd think in the service industry. Your concerns are absolutely valid - having all these digital payments flow through your personal accounts does create potential tax complications. A few key points to consider: **Immediate documentation needs:** - Keep detailed records of every transaction (date, amount, source, distribution breakdown) - Take screenshots of all Venmo/Cash App transactions showing both incoming payments and outgoing distributions - Get written confirmation from your employer that you're acting as their agent for tip collection **Tax reporting considerations:** Since you'll likely receive 1099-K forms from Venmo/Cash App if you exceed their reporting thresholds, you'll need to report this income but also document the offsetting distributions. This isn't necessarily a Schedule C situation since you're a W-2 employee - you may need to report on "Other Income" with proper documentation of the pass-through nature. **Long-term solution:** Really push your employer to set up proper business accounts for digital tip collection. This system puts unnecessary tax complexity on you as an employee when it should be handled at the business level. The key is having bulletproof documentation showing you're acting as an intermediary, not earning all this income personally. Without proper records, the IRS will assume it's all your taxable income.

The quarterly estimated tax situation you mentioned is actually a really important point that most people overlook! Since Venmo/Cash App will report the gross amount you received on Form 1099-K, the IRS computer systems will expect to see that income reported on your tax return. Here's what I'd recommend for estimated payments: Don't make estimated payments on the full gross amount - that would be overpaying since most of that money isn't actually your income. Instead, calculate your estimated payments based on your actual taxable income (your portion of tips plus W-2 wages). The key is having that rock-solid documentation showing the pass-through nature of the funds. When you file your annual return, you'll report the full 1099-K amount but then show the offsetting distributions with proper documentation. This prevents the IRS computers from thinking you under-reported income. One tip that helped me: I started sending myself a monthly email summary with screenshots of all the tip distributions and running totals. It creates a timestamped record that's hard to dispute later. Also consider having your coworkers sign a simple log when they receive their tip shares - just date, amount, and signature. It's extra documentation that proves you're not keeping all that money. The witness angle is brilliant too - if you ever face an audit, having other employees who can testify they received money from you is incredibly valuable evidence that you were acting as a conduit, not earning it all personally.