Don't forget that cryptocurrency transactions can also generate K-1s! I got burned by this last year when I invested in a crypto mining partnership. Had no idea I'd get a K-1 until it showed up in August. If youve done any crypto investing, double check those too.

Great thread everyone! As someone who's dealt with this exact nightmare before, I wanted to add a few more tips that helped me: 1. Check your email! Some partnerships now send K-1 availability notifications via email before mailing hard copies. Search your inbox for "K-1" or the partnership names you know about. 2. If you use a tax preparer, they often maintain client databases of which investments typically generate K-1s. Even if you're doing your own taxes this year, a quick call to your old preparer might jog your memory about partnerships you've forgotten. 3. Don't overlook smaller positions! I once missed a K-1 from a $200 investment that ended up having a $800 loss - those small trades can have big tax implications. 4. For future years, consider keeping a simple spreadsheet throughout the year of any partnership/PTP investments you make. Makes tax season so much less stressful when you have a running list to check against. The taxr.ai and Claimyr suggestions above sound really helpful - wish I'd known about those tools when I was scrambling last year!

Just FYI - there's a $2,500 threshold for Form 943. If you pay less than $2,500 in wages to agricultural employees during the year, you might be exempt from filing. But since you mentioned running regular payroll, sounds like you'll be over that. And if you're using a payroll service they should handle the deposits and everything for you!

This thread has been incredibly helpful! I'm in a similar situation with our small vineyard. One thing I wanted to add that might help others - make sure you also understand the difference in Social Security and Medicare tax treatment for agricultural employees. Agricultural workers are subject to Social Security and Medicare taxes, but the timing of when you need to pay these can be different from regular employees. For agricultural employees, you generally don't owe Social Security and Medicare taxes until you either pay them $150 or more in cash wages during the year, OR they work for you on 20 or more days during the year for cash wages computed on a time basis (rather than piecework). This is different from the income tax withholding rules, so you could have a situation where you're withholding income tax but not yet owing Social Security/Medicare taxes, or vice versa. Your payroll provider should know this, but it's worth double-checking since agricultural payroll has so many special rules that even experienced providers sometimes miss!

Something else to consider - have you checked if you're actually liable for the full amount they say you owe? I thought I owed $18k but had an accountant review my previous returns and it turned out there were several legitimate deductions I'd missed. Filed amended returns and got my debt down to $11k. Might be worth having a tax pro review your situation before committing to years of payments. The consultations are usually free or low cost.

I've been dealing with a similar situation and want to echo what others have said about reviewing your original assessment first. When I got hit with a $28k bill for underreported income, I immediately panicked and accepted the first payment plan they offered. Big mistake! After finally having a tax professional review everything, we found I'd missed legitimate business deductions for equipment, software subscriptions, and home office expenses that reduced my liability by almost $8,000. The amended returns took about 4 months to process, but it was absolutely worth it. Also, don't feel locked into your current payment amount. I've modified my agreement twice - once when I lost a contract and needed to reduce payments temporarily, and again when my income improved and I wanted to pay it off faster to save on interest. The IRS is actually more flexible than people think, you just need to provide the right documentation. One last tip: keep detailed records of every payment you make and every communication with the IRS. I use a simple spreadsheet tracking payment dates, amounts, and remaining balance. It's saved me from confusion multiple times when their records didn't match mine.

Just check your transcript tbh. If your return was accepted with the PIN youre good to go

From my experience, the IRS only sends letters if there's a problem or security issue with your IP PIN usage. If your return was accepted successfully, that's your confirmation that everything went through properly. You can always check your account transcript online to verify your return status if you want extra peace of mind!

Stupid question maybe, but does anyone know if you can deduct mileage for traveling to a gym if your doctor prescribed exercise as medical treatment? I have a written prescription for physical activity from my doctor for my back problems.

Just wanted to add another perspective on the mileage tracking issue. I was in the exact same boat last year - tons of medical appointments but zero mileage documentation. What I ended up doing was creating a simple spreadsheet with columns for Date, Destination, Purpose, and Miles. I went through my calendar, appointment confirmations, and prescription records to reconstruct all my medical trips. Then I used Google Maps to calculate the round-trip distance from my home to each location. I printed out a few sample Google Maps routes as backup documentation. The key thing I learned is to be conservative and only count direct trips. If I stopped somewhere else on the way to or from a medical appointment, I only counted the portion that was purely medical. Better to leave money on the table than risk problems later. My CPA said the documentation was more than adequate, and I ended up claiming about $340 in medical mileage deductions. Sometimes the simple approach works best!