Another thing to consider - if you have zero activity, you can file for "Administrative Dissolution" in many states which is much simpler than the full process. Basically you stop filing annual reports with the state and they eventually dissolve you automatically. Downsides: 1) Takes longer 2) You might get hit with penalties before dissolution 3) Still need to file final federal returns But some people find it easier than the formal process.

I went through this exact same situation last year with my dormant S-Corp. One thing that really helped me was creating a dissolution timeline and checklist before starting anything. Here's what worked for me: 1. First, I verified all prior year returns were filed (as Hassan mentioned - super important!) 2. Filed Form 966 within 30 days of formally adopting the dissolution plan 3. Used 2023 forms for my final 1120-S and K-1, clearly marked "FINAL RETURN - SHORT TAX YEAR" at the top 4. Attached a brief statement explaining the dissolution date and why I was using prior year forms The key thing I learned is that the IRS is very familiar with this timing issue. As long as you're clear about what you're doing and why, they handle it routinely. One tip: even though there was zero activity, I still had to complete all the required sections of the forms. Don't leave anything blank - put zeros where appropriate and make sure all signature lines are completed. The IRS can reject incomplete forms even if the amounts are all zero. Also double-check your state requirements! Some states want you to file state dissolution paperwork before the federal forms, others don't care about the order.

Anyone using TurboTax for backdoor Roth reporting? It keeps calculating tax on my conversion even though I already paid tax on that money when I earned it!

I went through this exact same confusion last year! The key thing to remember is that you need to report BOTH the contribution AND the conversion properly. Here's what I learned: 1. Yes, you absolutely need Form 8606 - this is critical because it establishes your "basis" (the $6,500 you already paid tax on) 2. The 1099-R will initially look scary because it shows the full amount, but Form 8606 will offset this 3. In your tax software, make sure to indicate that your traditional IRA contribution was NON-DEDUCTIBLE. This is the step most people miss. 4. Any small earnings between contribution and conversion (like if your $6,500 grew to $6,510) will be taxable, but the original $6,500 won't be. The good news is that once you get through this first year, you'll understand the process much better. Just take your time with the forms and don't rush through the software prompts about IRA contributions - those details matter a lot for getting the tax treatment right!

Has anyone tried using the IRS Withholding Calculator instead of paying for one of these services? I'm wondering if it's worth the effort or if it gives similar results.

I went through this exact same situation last year! The key issue is that when you're both working and select "married filing jointly" on your W-4s, each employer calculates withholding as if that job is your only household income. This creates a significant under-withholding problem. Here's what worked for us: We used the IRS Tax Withholding Estimator and discovered we needed to add about $200 extra withholding per month total. We split this between our two paychecks - I added $75 extra on line 4(c) of my W-4, and my spouse added $125 on theirs. The math makes sense when you think about it - at your combined income of ~$132K, you're hitting higher tax brackets that neither employer accounts for individually. Don't feel bad about not knowing this - the current W-4 system is really confusing for dual-income households. Once we made the adjustment, our withholding was spot on for this tax year. I'd definitely recommend running your numbers through the IRS calculator first since it's free and gives you the exact amounts to put on your W-4 forms. Good luck!

I experienced this specific scenario during the current filing season. My return was initially flagged with a TC 570 (Additional Account Action Pending) on my transcript, which correlates with the 'verification needed' status on WMR. After 16 days, it was automatically released with a TC 571 (Resolved Additional Account Action) without any correspondence being sent. The status then changed to 'processing' and my refund was issued 6 days later with a TC 846 (Refund Issued). This is a normal sequence for returns that trigger automated verification protocols but are subsequently cleared without taxpayer intervention.

This is actually really encouraging to hear! I filed in early February and have been stuck on verification for about 3 weeks now. Reading through everyone's experiences here gives me hope that maybe I'll see movement soon too. It sounds like the automated system is pretty good at clearing legitimate returns without needing us to jump through hoops. I've been checking WMR obsessively every day, but after reading the comments about transcripts being more detailed, I think I'll create an account and start monitoring that instead. Thanks for starting this thread - it's exactly what I needed to see today to stop panicking about my refund!

did u verify your identity on id.me? sometimes that holds things up even after amendment is processed

Been in the same situation - got my amendment letter 6 weeks ago and still waiting. From what I've learned lurking here, it really depends on what was changed in your amendment. Simple math errors usually process faster, but if you claimed additional credits or deductions, they might do extra verification. Have you tried calling the amended return hotline (866-464-2050)? The wait times are brutal but sometimes they can at least tell you if there are any issues holding it up.