They switched mine too!!! Hoping this means were getting closer to that bag 💅

I had the exact same thing happen! Went from 05 to 04 about 3 weeks ago and was stressing about it. But like DeShawn said, it just means they're processing more frequently. I actually got my 846 code (refund issued) yesterday! The cycle change was definitely a good sign in my case. Hang in there, sounds like you're getting close! 🤞

mines been doing the opposite, went from 04 to 05. this whole process is driving me nuts fr

The IRS is so behind rn its not even funny. My friend works there and says theyre still processing returns from last year

Curious about the property services side - are there any Section 179 deduction implications when using YouTube earnings to purchase equipment for an unrelated business? I'm in a similar situation where one business is funding equipment purchases for another.

This is a great discussion on multi-entity structures! One thing I'd add from my experience with similar setups is the importance of maintaining arm's length transactions between your LLCs. Even though they're all disregarded entities for tax purposes, you still want to document that any services or fund transfers between entities are at fair market rates. For example, if your holding company is providing management services to the YouTube LLC, document what those services are and that any management fees charged are reasonable compared to what you'd pay an outside company. Same goes for any loans between entities - use proper loan documents with market interest rates. Also, since you mentioned substantial income ($175k), consider whether making an S-Corp election for any of these entities might save on self-employment taxes. With that level of income, the salary vs. distribution optimization could be significant, but you'd need to weigh that against the added complexity of payroll compliance. The key is having a legitimate business purpose for your structure beyond just tax planning. Sounds like you do with the different industries, but make sure that's well-documented in your operating agreements and business records.

Has anyone actually called the IRS helpline about this? I had almost the exact same situation and they were surprisingly helpful in explaining the process.

I went through this exact same situation last year and ended up working with a tax professional who specializes in HSA issues. One thing that helped me was understanding that the IRS Publication 969 actually has specific examples for excess contribution corrections when there are losses instead of gains. The key point everyone seems to be missing is that you need to be very careful about the timing. If you're already past the tax filing deadline (including extensions), you're stuck paying the 6% excise tax regardless of whether you withdraw the excess. But if you're still within the deadline, the withdrawal approach is definitely the way to go. Also, make sure when you request the excess contribution removal that you specify the exact tax year the excess occurred in. I made the mistake of not being clear about this initially and my HSA provider processed it as a regular distribution, which created even more paperwork headaches. The proportional loss calculation really isn't as complicated as it seems if you have all your statements. Most HSA providers can actually do this calculation for you if you ask the right person - I had to escalate past the first-level customer service to get to someone who understood the process.

Based on my experience as a tax preparer, there's another option worth considering. If your refund hasn't been processed yet, you can file Form 8822 (Change of Address) with the IRS, which might help ensure your check goes to the right place. Additionally, you could file Form 3911 (Taxpayer Statement Regarding Refund) if it's been more than 6 weeks since your return was accepted. In previous tax seasons, I've seen clients successfully use this approach to resolve similar situations. The key is being proactive rather than just waiting for the IRS to figure things out on their end.

I actually just went through this exact same scenario a few months ago! My credit union closed unexpectedly right after I filed my return. What I learned is that you absolutely cannot update your direct deposit info once the return is filed - the IRS system is locked in at that point. When the deposit bounces back, they'll automatically mail you a paper check to your address on file, but here's the catch: it can take 6-10 weeks from the bounce date, not from when you originally expected your refund. I'd suggest setting up USPS informed delivery if you haven't already, and definitely double-check that your current address is on file with the IRS. Don't stress too much about visiting your old bank - there's really nothing they can do at this point since the account is closed. The waiting game is frustrating, but the check will eventually come!