I've been through this rodeo before! 🤠 Last year I transposed two digits in my account number (classic me, lol) and ended up with a paper check. The 846 date was the "refund authorized" date, then they took about a week to mail it, and another week for delivery. Pro tip: sign up for USPS Informed Delivery if you haven't already - you'll get daily emails showing scans of mail that's about to be delivered, so you'll know exactly when that beautiful Treasury check is arriving!

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 🙄

One thing nobody mentioned yet - your STATE taxes matter too! The 20-25% guideline mostly covers federal, but depending on your state, you might need another 5-10% for state income tax. I'm in California and learned this the expensive way last year 😭

Another approach: I set up a separate savings account JUST for taxes and automatically transfer 30% of every 1099 payment I receive. Better to slightly overpay and get a refund than underpay and owe penalties! I do web design as a side hustle and this system has saved me so much stress.

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!

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.

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!