Def been thru this last yr. The 846 date is NOT when u get the check. IRS sends the $ info to Treasury on that date, then Treasury prints checks in batches 2x/week. Depending on when ur 846 hits their schedule, could be 1-10 days b4 it's actually printed. Then USPS takes 3-5 biz days. Pro tip: DO NOT CALL the regular IRS # to check status - complete waste of time. They'll just read the same transcript info u already have. Ask me how I know 🙄

Hey there! I totally understand your stress - been in this exact situation before! 😅 Just to add to what everyone else has shared, I went through this nightmare in 2022. My 846 date was March 3rd, and I actually received my check on March 17th - so exactly 2 weeks later. The key thing to remember is that the 846 date triggers a whole chain of events: IRS sends payment instructions to Treasury → Treasury prints the check → USPS delivers it. Each step takes time. For planning with your contractors, I'd honestly tell them to expect payment around March 20th to be safe. Also, definitely sign up for USPS Informed Delivery like Savannah mentioned - it was a lifesaver for my anxiety! You'll literally see a photo of your check in your email before it hits your mailbox. Hang in there, the money WILL come! 💪

Has anyone here dealt with reporting suspended EBIE on partner tax returns when there's a partial disposition of a partnership interest? The regulations aren't super clear on how to allocate the suspended EBIE in that scenario.

This is a complex area that I've been wrestling with in my practice as well. One thing to keep in mind is that the proposed regulations under 163(j) specifically address the treatment of suspended EBIE when partnerships change their election status. Even though Partnership A is making the 163(j) election going forward, the suspended EBIE from 2018 and 2019 doesn't just disappear. The key is understanding that this suspended amount is tracked at the partner level, not the partnership level. Each partner maintains their own "bucket" of suspended EBIE from each partnership. Beyond the CARES Act relief allowing 50% deduction of 2019 EBIE, the remaining suspended amounts will indeed carry forward until one of the triggering events occurs - either the partnership generates excess taxable income/excess business interest income in future years, or the partner disposes of their interest. What's interesting about your situation is that even with the 163(j) election, Partnership A could still potentially generate excess amounts in future years if its income profile changes significantly. The election doesn't permanently eliminate this possibility, it just makes it less likely given the trade-off you're making with depreciation periods. I'd recommend keeping detailed records of each partner's suspended EBIE by year and partnership, as this will be crucial for proper reporting when disposition or other triggering events eventually occur.

im in the exact same situation. filed on jan 22, accepted jan 23, then yesterday saw it flip to pending and back to accepted. From what i can gather online this is totally normal and just means your return is moving through their process. as long as it went back to accepted u should be fine

I've been through this exact same situation multiple times over the years. The status flip from Accepted to Pending and back is actually a good sign - it means your return is actively being processed rather than just sitting in a queue. When the estimated refund date disappears, it's usually because the IRS system is recalculating timing based on current processing volumes. Since you mentioned you claimed EIC, that explains everything - those returns are held until mid-February regardless of when you file due to the PATH Act. Your 21-day processing window basically starts around February 15th, so you're looking at early March for your refund. The status changes you're seeing are just the system preparing your return for the next phase of processing now that the PATH Act hold period is ending. Nothing to worry about at all!

dont trust wmr its trash. transcripts are the only way to know for sure. or use that taxr thing everyone keeps talking about idk

Same situation here! Cycle 05 with TurboTax fees and Chime. PATH message disappeared from WMR on Tuesday for me. From what I've read, once PATH is gone and you're weekly cycle, the 846 should post on your next transcript update day. Friday mornings are usually when we see the magic happen! 🤞 Keep checking around 3-6am EST. The waiting game is brutal but we're almost there!

Just wondering... did you ever ask the partnership itself for an explanation? When I was in a similar situation, I emailed our partnership's accountant directly and they sent me a detailed breakdown of how my K-1 was calculated and why the distributions were different from my share of income. Sometimes going directly to the source is the fastest way to understand what's happening.

Your CPA is correct - you need to report the $24,863 from Line 1 on your Schedule E. This is a classic partnership taxation issue where your share of profits (11.53%) differs from your distribution percentage (3.06%). The key thing to understand is that partnerships are "pass-through" entities, meaning you're taxed on your allocated share of the partnership's income whether you receive it in cash or not. The partnership agreement clearly established different percentages for profit allocation versus distributions (likely due to that IRA loan conversion you mentioned). Think of it this way: the partnership earned income, and 11.53% of that income is legally "yours" for tax purposes even though the distribution formula gives you a smaller cash payout. The $17,012 difference between your taxable income and distribution is essentially being retained by the partnership, increasing your basis in the partnership. This might feel unfair since you're paying tax on money you didn't receive, but it's completely legal and common in partnership structures with special allocations. Your business partner may not fully understand the tax implications of the partnership agreement that was set up. I'd stick with your CPA's advice on this one - reporting only the distribution amount would likely trigger IRS issues down the road.