I've been exactly where you are right now - that mix of cautious optimism and fear of another letdown is so familiar! The code 290 with $0.00 is actually really promising news. It means your amended return has been officially accepted into their system and they're beginning to process the adjustments. That 'as of' date of 6/10/2024 is when their computer system will cycle through your account again, and based on what I've seen here in the community, that's often when people start seeing the next wave of activity on their transcripts. I know it's hard not to check obsessively (trust me, I've been there!), but the weekly check approach that others have mentioned really does help with the stress. You're past the biggest hurdle now - getting acknowledged by their system. The processing timeline for amended returns is frustratingly long, but you're definitely in motion. Try to be gentle with yourself during this waiting period, and remember that no news is often just... no news, not bad news. Sending good vibes your way for that 6/10 update!

I completely understand your hesitation about getting hopeful - the whole amended return process can feel like an endless waiting game with so many unknowns! But that code 290 with $0.00 is actually a really good sign. It means the IRS has officially received and accepted your amended return into their processing system, which is honestly the biggest hurdle. That 'as of' date of 6/10/2024 is significant because it's when their system is scheduled to cycle through your account for the next round of updates. While I can't promise exactly what will happen, many people in similar situations have seen additional codes (including refund codes) appear within a couple weeks of their 'as of' date. I know the waiting is absolutely brutal, especially when you've been through disappointments before. My advice would be to check your transcript maybe once a week rather than daily - it helps preserve your mental energy while still keeping you informed. The fact that you're seeing this movement means you're definitely in their pipeline now. Try to hang in there, and remember that this code 290 represents real progress, even if it doesn't feel like much yet. Keeping my fingers crossed that 6/10 brings you some good news!

Has anyone considered Drake Tax's training program? I used it when transitioning from finance to tax, and it was super helpful for learning practical application. They have a certification program too that's way more affordable than most options.

As someone who's been preparing taxes for over 8 years and now runs a small practice, I'd strongly recommend against H&R Block for your situation. You're absolutely right to be concerned about getting the experience you need there. Given your 14-year FA background and EA pursuit, you're actually in a great position to approach boutique tax firms or fee-only RIAs that already offer tax services. These firms often struggle to find preparers who understand investment taxation, retirement planning implications, and business structures - all areas where your background gives you a huge advantage. I'd suggest reaching out to firms in your area that serve high-net-worth clients or business owners. Offer to work the upcoming tax season part-time while you complete your EA. Many firms would jump at someone with your qualifications, even for $30-35/hour starting out. Also consider joining local tax professional groups or NATP chapters - great networking opportunities and many firms recruit through these channels. You'll learn more in one season at a quality firm than multiple seasons at a volume preparer like Block. The EA designation combined with your FA experience will make you incredibly valuable in the tax prep world. Don't undersell yourself by starting at the bottom of the food chain.

Has anyone considered that the tax brackets might change before the end of 2025? Remember in 2020 when everything changed mid-year because of covid relief stuff? Maybe the IRS is hedging their bets with Publication 15-T in case Congress makes changes?

This is exactly the kind of systemic issue that makes tax compliance so frustrating for both employers and employees. I've been tracking this discrepancy across multiple clients this year, and it's definitely more pronounced than in previous years. What's particularly concerning is that this gap disproportionately affects middle-to-upper-middle income earners who don't typically need to make estimated tax payments. These are people who have always relied on payroll withholding to cover their full liability, and they're going to be blindsided next filing season. I think the IRS needs to be more transparent about these intentional buffers in their guidance. Publication 15-T should include a clear disclaimer explaining that the withholding tables may result in underpayment for certain income levels and circumstances. Right now, employers like us are left trying to explain to confused employees why their withholding doesn't seem adequate when we're following official guidance to the letter. Has anyone reached out to their payroll software vendor about this? I'm wondering if there are any patches or updates coming to help address this issue.

Omg i had this exact question last year! my daughter works in my pet grooming business and i wanted to help with her community college. my accountant told me to just put her on regular payroll and pay her fairly for the ACTUAL work she does. he said if i tried to deduct tuition directly id be asking for an audit. i now pay her $22/hour (what i pay my other grooming assistant) for about 15 hrs/week. she gets a regular paycheck with taxes taken out and everything. then what she does with her money is her business. yeah i still help her with tuition but thats just me being a mom lol.

Just wanted to chime in as someone who went through this exact situation with my son last year. The bottom line is that the IRS treats family employment arrangements with extra scrutiny, so you really need to do everything by the book. Here's what I learned: Pay your daughter actual wages through regular payroll (W-2, tax withholdings, the whole nine yards) for legitimate work performed. Document everything - hours worked, job duties, market rate justification for her pay. The $45k for 1000 hours ($45/hour) might be high depending on what kind of work she's actually doing. Research what similar positions pay in your area. Once she's getting regular paychecks, what she does with that money is her business. You can still help with tuition separately as a parent, but that's a personal expense, not a business deduction. Don't try to get creative by paying tuition directly as a "business expense" - that's a red flag for the IRS and could trigger an audit. Keep your business expenses and personal family support completely separate. It's cleaner, safer, and will save you headaches down the road.

Has anyone dealt with the health insurance part of this? When my ex and I split claiming our kids, we ran into issues with the premium tax credit for health insurance. Only the person who claims the kid as a dependent can claim their health insurance costs for tax credits.

This is a great question that comes up a lot! Yes, your daughter and her ex can absolutely each claim one child on their separate tax returns. The key rule is that each child can only be claimed as a dependent by one parent per tax year - but there's no requirement that all children must be claimed by the same parent. Since they co-parent well and split time fairly evenly, they just need to agree on who claims which child and stick to that arrangement. I'd recommend they put this agreement in writing to avoid any confusion down the road. One important thing to consider though - they should look at the bigger tax picture before deciding. The parent who claims a child gets all the related tax benefits for that child (Child Tax Credit, Earned Income Credit if eligible, Head of Household filing status, etc.). Given their income difference ($42K vs $65K), your daughter might benefit more from certain credits that phase out at higher incomes. They might want to run the numbers both ways to see which arrangement gives them the best combined tax benefit.