11 Has anyone used a CPA or tax attorney to deal with this kind of situation? Wondering if it's worth the cost or if I'm better off handling it myself.

I went through a similar situation a few years back - owed about $52k and was terrified of losing my retirement savings. Here's what I learned: You can't really "volunteer" for a levy, but you can definitely be proactive. The IRS would much rather work with you than seize assets. When they do levy retirement accounts, you avoid the 10% penalty but still owe income tax on the distribution. My advice: Call the IRS immediately (or use one of those callback services mentioned here - they actually work). Be honest about your situation and request a reinstatement of your installment agreement. They often approve modified terms, especially if you can make a good faith payment upfront. I ended up making a partial withdrawal from my 401k (took the penalty hit) to show good faith, then negotiated a manageable monthly payment for the rest. Yes, it hurt short-term, but it kept me in control of the situation rather than having them dictate terms. Don't wait for the levy - once collection enforcement starts, you have way fewer options and much less negotiating power.

Based on everyone's experiences here, it sounds like you're still well within the normal timeframe for Colorado state refund checks. I had a similar situation last year where my check was mailed March 15th and didn't arrive until March 31st - exactly 16 days! The waiting is definitely nerve-wracking, especially when you're checking the mailbox every day. One thing that helped me was calling my local post office around day 12 to ask if they were experiencing any delivery delays in my area. They mentioned that tax season puts extra strain on their system and that government checks sometimes get sorted differently than regular mail. Since you're at 9 days now, I'd suggest waiting until you hit the 15 business day mark before taking any action. But definitely keep documenting everything like you're doing - that preparation will be helpful if you do need to contact the Colorado Department of Revenue later. The fact that you can confirm it was officially mailed is a good sign that the process is working normally!

I'm dealing with this exact same situation right now! My Colorado refund was marked as mailed on April 8th, so I'm at day 8 and getting a bit anxious too. Reading through all these experiences has been incredibly helpful - it's reassuring to see that 10-17 days seems to be the normal range for most people. What really stood out to me is the suggestion about checking with your local post office around day 12. I never would have thought of that, but it makes perfect sense that they might have insights about local delivery delays that the state wouldn't know about. I'm also planning to wait until the 15 business day mark before contacting Colorado DOR, based on what everyone here has shared. One thing I learned from this thread is to definitely switch to direct deposit next year - 5 days versus 2-3 weeks is a no-brainer! But for now, it sounds like we just need to practice patience. Thanks for starting this discussion, it's really helped calm my nerves about the timeline.

That's a really creative approach with the prefab metal building! I'm curious about the logistics - did you run into any issues with electrical and plumbing connections since it's technically "portable"? And how did your insurance company handle coverage for a structure that's classified as equipment rather than part of the building? I'm also wondering if there are any restrictions on what types of business activities you can conduct in these portable structures versus permanent buildings. My importing business would involve some heavy inventory storage, so I want to make sure the foundation and structure can handle the weight loads properly. The 7-year depreciation schedule sounds much more attractive than 39 years! Did your tax professional have to provide any special documentation to the IRS to justify the equipment classification?

This is such a timely question for me! I'm in a very similar situation with my consulting business and have been researching this exact scenario for months. One thing I haven't seen mentioned yet is the potential impact on your state taxes. Some states have different rules for business property depreciation that might affect your overall tax strategy. Also, if you're planning to use the space for both your existing business and the new importing venture, you might need to be extra careful about how you allocate expenses between the two businesses. I'd also suggest documenting everything meticulously from day one - not just the construction costs, but photos showing exclusive business use, utility bills, maintenance expenses, etc. The IRS tends to scrutinize home office deductions pretty closely, especially for larger spaces like a detached garage. Have you considered whether the timing of when you start the construction versus when you launch the new business might affect which expenses can be claimed as startup costs versus ongoing business expenses? I've read that timing can be crucial for maximizing your deductions.

I'm so sorry to hear about what you and your daughter are going through. AML is incredibly challenging, and I can't imagine the stress of dealing with both the medical situation and financial concerns. The good news is that everyone here is absolutely correct - medical GoFundMe donations are considered gifts under IRS rules and are NOT taxable income to you. You don't need to report that $24,000 on your tax return. Given your previous IRS experience, I completely understand your anxiety about this. Here are some key points to give you peace of mind: 1. The IRS Publication 525 explicitly states that gifts received are not income to the recipient 2. GoFundMe doesn't issue 1099s for personal medical campaigns precisely because these are non-taxable gifts 3. The burden is on donors (not you) if they need to report large gifts on their own returns To protect yourself going forward: - Keep detailed records of all donations and medical expenses - Save your GoFundMe campaign page showing the medical purpose - Consider keeping the funds in a separate account for easier tracking - Maintain receipts for medical bills paid with the donations This money represents your community's love and support during an incredibly difficult time. It's meant to help your family heal, not create additional burdens. Focus on your daughter's recovery - the tax issue is one thing you can cross off your worry list. Wishing your daughter strength in her fight and your family peace during this journey.

I'm so sorry to hear about your daughter's diagnosis and everything your family has been through. Pediatric AML is incredibly challenging, and I can only imagine the emotional and financial stress you've been under. The great news is that you can definitely stop worrying about the tax implications of your GoFundMe donations. Everyone here is absolutely correct - medical crowdfunding donations are considered gifts under IRS rules and are NOT taxable income to you. You won't need to report that $24,000 on your tax return at all. Given your previous experience with IRS issues after your divorce, I completely understand why you're anxious about this. But this situation is entirely different. The IRS is very clear in Publication 525 that gifts received are not considered income to the recipient, and medical GoFundMe campaigns fall squarely into this category. A few practical suggestions to give you complete peace of mind: 1. Keep a simple record of donations received and major medical expenses paid 2. Save screenshots of your GoFundMe page showing it was clearly for medical purposes 3. Hold onto bank statements showing the GoFundMe transfers 4. Consider keeping the funds in a separate account to make tracking easier The fact that GoFundMe hasn't sent you any tax forms is completely normal and expected - they don't issue 1099s for personal medical campaigns because these donations are treated as non-taxable gifts. Your community's generosity during this crisis shouldn't create any tax burden for you. Focus on your daughter's recovery and let this be one less thing on your plate. Wishing your daughter continued strength in her treatment and your family peace during this difficult journey.

Has anyone tried printing out the 8962 form and just filling it out manually? After fighting with TurboTax for days over PTC calculations, I just downloaded the form and worksheet from IRS.gov and did it myself. Took about 30 minutes with a calculator.

I've been dealing with this exact same issue! TurboTax has been calculating my Form 8962 completely wrong, and like you, the difference is significant - over $800 in my case. What I discovered is that TurboTax seems to have problems when you have any kind of coverage gap or change during the year. In my situation, I had coverage through my employer for the first 4 months, then switched to marketplace coverage, and TurboTax kept trying to apply Premium Tax Credit calculations to months when I wasn't even enrolled in a marketplace plan. The key thing that helped me was going into Forms Mode (under Tax Tools > View Tax Forms) and manually checking each line of Form 8962 against my 1095-A. I found that TurboTax was pulling data from the wrong months and not zeroing out the months where I had employer coverage. Also, make sure you're entering your 1095-A data in the exact same format it appears on the form - don't round numbers or convert formats. TurboTax seems very sensitive to even minor formatting differences. If you're still stuck, definitely consider getting direct IRS guidance. The Premium Tax Credit rules are complex enough that even the software gets confused, but an IRS agent can walk you through the correct calculation method for your specific situation.