Pro tip: Keep checking your transcript weekly. Sometimes they move faster than the Where's My Refund tool shows.

I'm going through something similar with my 2022 amended return. Been waiting since August and just had my second ID verification last week. Your transcript breakdown is super helpful - I need to pull mine to see if I have those same transaction codes. The "RETURN NOT PRESENT" thing is confusing when they clearly have your filing status on file. Hoping yours moves soon since the freeze is lifted! 🤞

Has anyone actually done this successfully? I started something similar last year and ended up with a donor-advised fund instead because the legal and compliance requirements for a private foundation were too intense. The annual reporting alone was going to cost me thousands in accounting fees.

I've been through this exact process and can share some practical insights. You're right that this sounds like a private foundation structure, and yes, it's absolutely doable with proper planning. A few key things I learned during my setup: 1. The "sole member" aspect is perfectly legal, but you'll still need independent directors on your board to satisfy IRS requirements. I structured mine with me as the sole voting member, but with 3 independent directors who handle day-to-day operations and conflict of interest oversight. 2. For the investment growth strategy - this works, but be very careful about the types of investments you choose. The "jeopardizing investments" rules are stricter than most people realize. Stick to conservative, diversified portfolios initially. 3. Your 5% annual distribution plan is solid, but make sure you're calculating it correctly. It's based on the fair market value of your non-charitable use assets, averaged over the prior 3 years. The IRS has specific rules about what counts toward this requirement. 4. Documentation is crucial. Keep detailed records showing that all decisions benefit the charitable purpose, not personal interests. The IRS will scrutinize transactions between you and the foundation very closely. One unexpected benefit: having this structure has actually made my charitable giving more strategic and impactful. The multi-year planning horizon lets you tackle bigger projects than you could with annual donations. Happy to answer specific questions about the setup process if helpful.

Has anyone else noticed that FAFSA's website is completely unhelpful about the tax implications of their aid? I spent hours trying to figure this out last year and ended up having to call my school's financial aid office.

I went through this exact same situation two years ago and totally understand your stress! Here's what I learned that might help: First, take a deep breath - with your income level and withholding, you're very unlikely to end up owing money. Your $12,000 in earned income is well below the standard deduction threshold, so even if some of your FAFSA money is taxable, you'll probably still get a refund. The key thing is to separate your loans from your grants. Loans are NEVER taxable income - you're borrowing money that you have to pay back, so the IRS doesn't count it. For grants, only the portion used for non-qualified expenses (like room and board) is potentially taxable. Here's what really helped me: I made a simple spreadsheet listing all my school expenses (tuition, required fees, required books) and compared it to my total grant money. If your grants were less than or equal to those qualified expenses, none of it is taxable. If there was excess, only that excess amount gets added to your taxable income. And don't worry about not being full-time - you can still claim education credits for part-time enrollment! The American Opportunity Credit is available for the first four years of post-secondary education regardless of whether you're full or part-time. You're doing the right thing by filing your taxes. Given your situation, I'm confident you'll get money back, not owe it!

I'm dealing with a very similar situation! My spouse also left their corporate job to start a freelance business, and the income uncertainty was stressing me out when filling out my W4. What ended up working for me was selecting "Married, but withhold at higher Single rate" like others mentioned, and then I used the IRS Tax Withholding Estimator about halfway through the year to see if I needed to adjust. The estimator lets you input your year-to-date earnings and estimated income for the rest of the year, which was perfect for dealing with my spouse's variable freelance income. One thing I learned is that you can update your W4 multiple times throughout the year as your situation becomes clearer. So if your husband's photography business starts generating steady income, you can always adjust your withholding then rather than trying to guess perfectly right now. The "higher Single rate" option has been a good safety net for us - we'd rather get a refund than owe money, especially during this transition period where his business income is so unpredictable.

Just wanted to add another perspective as someone who went through this exact scenario! My wife left her corporate job to start a consulting business two years ago, and I was the primary earner dealing with the same W4 uncertainty. One thing that really helped us was setting up estimated quarterly tax payments for her business income, even when it was irregular. This took some pressure off my W4 withholding because we were covering her self-employment taxes and income taxes through the quarterly payments instead of trying to withhold everything from my paychecks. The quarterly payment approach works especially well for photography businesses since the income can be so seasonal - wedding photographers might make most of their money in spring/summer/fall but have slower winters. This way you're not trying to predict a full year of income all at once. I ended up using "Married, but withhold at higher Single rate" on my W4 as others suggested, plus we made modest quarterly payments for her business. When her income became more predictable in year two, we adjusted both approaches. It's definitely easier to manage when you spread the tax planning across multiple strategies rather than putting all the pressure on your W4 withholding alone.

I'm at week 20 and honestly considering reaching out to my congressman at this point. Filed my 1040X in September and still nothing but "processing" on WMR. My CPA said that's becoming the norm now - she's seeing 22-26 weeks regularly for her clients. The worst part is having zero real information about what's actually happening. At least with regular returns you get some updates, but amended returns are like throwing papers into a black hole. Really wish the IRS would be more transparent about realistic timelines instead of that misleading 16-week estimate.

Just wanted to chime in as someone who's been through this nightmare twice! My first amended return took 23 weeks and my second one (filed last year) took 19 weeks. The anxiety is absolutely brutal, especially when you need that money for bills like you mentioned. One thing that helped me was setting up direct deposit alerts so I'd know the moment anything hit my account instead of constantly checking the useless WMR tool. Also, if it makes you feel any better, I've never heard of an amended return just disappearing - they're slow as molasses but they do eventually process them. Hang in there, you're already at week 12 so you're in the home stretch even if it doesn't feel like it! 🙏