Something similar happened to me, but my school's financial aid office was actually super helpful! I just went in and asked them for a printout of all my payments for the calendar year, and they provided documentation that showed exactly when each payment was processed. Might be worth checking with your university's financial aid or bursar office to get complete documentation of all your payments.

Just want to clarify something important - the 1098-T can be reported on either a payment basis or a billing basis depending on the school. Box 1 shows payments received and Box 2 shows amounts billed. Make sure you check which box your school is using because it makes a huge difference! My university switched from one method to the other between years and it confused the heck out of me.

Im confused about pretax vs posttax deductions... which ones should be taken out before taxes are calculated? my paystub has these codes: 401k, DEN, MED, VIS, FSA, HSA, STD, LTD, LIFE

Check if your company switched payroll providers or updated their system recently - that often causes sudden changes in deduction codes and amounts. I had a similar situation where a system upgrade changed how my benefits were being calculated mid-year. Also look for an "earnings statement" or "pay stub legend" section on your company's HR portal or intranet. Most employers are required to make this information accessible to employees. If you can't find it online, ask a coworker who's been there longer - they might know where to find the documentation. The $95 jump could also be due to benefit elections kicking in if you recently went through open enrollment, or if you hit a salary threshold that triggered additional deductions. Sometimes companies also add new voluntary programs (like legal insurance or identity theft protection) that you might have accidentally enrolled in during benefits signup.

Has anyone here dealt with this situation where one of the partners is an S-Corp specifically? I'm concerned about the timing since S-Corps have different filing deadlines than partnerships.

One thing I'd add that hasn't been fully addressed - make sure you understand the potential for imputed underpayment assessments under BBA rules. Even though partnerships are pass-through entities, the IRS can assess and collect penalties at the partnership level for certain adjustments. When you file the 1065-X as your AAR, the IRS will review it and may propose an imputed underpayment based on the highest individual tax rate plus Net Investment Income Tax. The partnership can then make a "push out" election to have the adjustment flow through to the partners instead of being assessed at the partnership level. Given that you're dealing with an S-Corp partner, this could be particularly relevant since the ultimate shareholders might be in lower tax brackets than what the IRS would use for the imputed underpayment calculation. You'll want to consider whether to make the push-out election when filing the AAR or wait to see if the IRS proposes an assessment. Also, since you mentioned both partners agree on the correction, document that agreement well. It'll be helpful if the IRS has any questions about the adjustment during their review process.

I had this exact situation last April! According to the IRS website (https://www.irs.gov/individuals/understanding-your-cp05-notice), these reviews are part of their fraud prevention program. Mine was triggered because I claimed a home office deduction for the first time. The timeline on the IRS site says 60 days, but mine was resolved in 47 days with no additional information requested. The refund just showed up in my account with interest! The IRS Operational Status page (https://www.irs.gov/newsroom/irs-operations) sometimes has updates on processing times for these reviews as well.

I went through something similar when I changed my filing status to Head of Household after my divorce. The CP05 notice can definitely be stressful when you're counting on that refund! In my case, it took about 8 weeks to resolve, but the IRS was specifically verifying my eligibility for Head of Household status and making sure I met the requirements (like paying more than half the household costs and having a qualifying dependent). Since you mentioned this involves your ex-spouse and child tax credits, I'd recommend gathering all your divorce documentation that shows the custody arrangement and who's entitled to claim which children. The IRS sometimes sees duplicate claims and needs to sort out who has the legal right to claim each credit. One thing that helped me was calling the Taxpayer Advocate Service at 1-877-777-4778. They were more helpful than the general IRS line when I needed to understand what was happening with my review. They can't speed up the process, but they can sometimes provide more specific information about what the IRS is looking for. The good news is that in most cases, these reviews end favorably for the taxpayer when everything is legitimate. Hang in there!

A quick tip nobody mentioned: If you're filing a super late return like this, send it via certified mail with return receipt requested. This gives you proof of when you submitted it in case the IRS ever questions the filing date. Has saved my butt more than once.

Don't panic! You're actually in a pretty good position since you mentioned you think you were owed a refund for 2021. As others have said, there are no penalties for filing late when you're getting money back from the IRS. One thing I'd add is to double-check that you haven't already filed electronically through a service you might have forgotten about. You can create an account on the IRS website and view your tax transcripts to see what they have on file for 2021. This will show you if anything was already submitted and what your actual refund amount would be. Also, since you have all your documents ready to go, consider using tax software that supports prior year returns rather than trying to fill out the forms by hand. It'll catch calculation errors and make sure you don't miss any deductions. Just remember - you'll need to print and mail it since e-filing isn't available for 2021 returns anymore. The April 18, 2025 deadline is coming up fast, so definitely prioritize getting this done soon if you want to claim that refund!