Check your transcript if you can access it. That'll give you the most detailed info about whats actually happening with your return.

Been dealing with this exact same frustration! Filed through TaxAct and their tracker shows one thing while WMR shows another. From what I've learned, the IRS only updates WMR once daily (usually overnight) and sometimes takes longer during peak season. Your H&R Block Feb 18 date is probably just their estimate based on typical processing times, not actual IRS data. The "accepted" status on WMR means they received it and it passed initial screening - now you're waiting for actual processing. Hang in there, 2-3 weeks is pretty normal right now!

Has anyone here actually calculated whether C corp status is beneficial with the new corporate tax rates? For companies under $1M in revenue, I'm finding pass-through taxation as an LLC is often still better unless you're retaining significant profits in the business.

Miguel, before you dive deeper into the retroactive election process, I'd strongly recommend doing a comprehensive tax analysis first. Based on your revenue numbers ($875k), you might find that staying as an LLC with pass-through taxation is actually more beneficial. Here's what to consider: C corps face double taxation - the corporation pays tax on profits, then you pay tax again when those profits are distributed as dividends. With your revenue level, this often results in higher overall tax burden unless you're planning to retain most profits in the business for growth. The key factors are: 1) What percentage of profits do you distribute vs. reinvest? 2) Are you taking advantage of the Section 199A qualified business income deduction as an LLC? 3) Do you need corporate fringe benefits that aren't available to LLC members? I've seen many businesses rush into C corp elections thinking it's automatically better, only to find they're paying more in taxes. Run the numbers both ways before going through the complex retroactive election process - you might save yourself a lot of headaches and discover your current structure is optimal.

Don't forget about state taxes too! Depending on your state, you might face state-level AMT or simply income tax on the spread. California for example has both a state AMT and high income tax rates, which makes ISO exercises even more expensive.

Based on your numbers, you're looking at a substantial AMT hit - potentially $180K-250K as others mentioned. One critical timing consideration: since you're planning to leave in the next few months, make sure you understand your company's post-termination exercise window. Most companies give you 90 days after termination to exercise, but some are shorter. If you do decide to exercise and hold, consider making quarterly estimated tax payments starting immediately. The IRS expects you to pay taxes throughout the year, not just at filing time. With an AMT liability this large, you could face significant underpayment penalties if you wait until April to pay. Also worth noting - if your company stock price drops significantly between now and when you actually sell the shares (even if you hold for LTCG treatment), you could end up in a situation where you paid AMT on a higher spread than you ultimately realized. This is the dreaded "AMT trap" that caught many people during the dot-com crash. The AMT credit helps, but it doesn't fully offset this scenario. Consider consulting with a tax professional who specializes in equity compensation before making any moves. The cost of good advice here could save you tens of thousands.

Don't forget to check if either partner had a negative capital account before the final distribution! This can create unexpected tax consequences. If one partner's capital account went negative during operations (meaning they took out more than they put in plus their share of profits), that negative balance is treated as income to that partner when the partnership dissolves. Also, make sure you file Form 8594 (Asset Acquisition Statement) if the partnership is selling any assets as part of the dissolution. And don't forget to file Form 966 to formally dissolve the entity with the IRS.

One more thing - check if either partner had any unreimbursed business expenses (UBE) they paid personally. These can be reported on Schedule E of their personal returns rather than being treated as capital contributions on the K-1. This is often better tax treatment since capital contributions don't directly reduce tax liability but UBEs can.

I'm currently at week 6 with this exact same "additional review" message and finding this thread has been such a relief! It's incredible how widespread this issue is - clearly Illinois has some serious systemic problems with their tax processing this year. What really stands out to me from reading everyone's experiences is how the timeline seems pretty consistent: most people wait 8-16 weeks, never receive the mysterious letter they keep mentioning, and eventually get their refund without any explanation of what was actually being "reviewed." My refund is $2,100 which definitely fits the pattern others mentioned about larger amounts being held longer. The lack of transparency is what bothers me most. They basically say "we're reviewing something but won't tell you what, and maybe we'll contact you but maybe we won't" - it's like being stuck in bureaucratic purgatory with no way out except waiting indefinitely. Based on everyone's advice here, especially @Jacinda Yu's professional insight, I'm going to wait until the 12-week mark before trying to call or use one of those callback services people mentioned. At least now I have realistic expectations instead of checking the status obsessively every day wondering if I made some terrible mistake on my return. Thanks to everyone who shared their timelines and outcomes - this community support makes dealing with this mess so much more bearable!

I'm at week 5 with this exact same message and honestly, finding this thread has been such a relief! It's crazy how many of us are dealing with identical situations - definitely confirms this is a widespread Illinois system issue rather than problems with individual returns. My refund is $1,850, which fits right into that pattern everyone's mentioning about larger amounts being held longer. The most frustrating part is their whole "we'll send you a letter if we need something" approach when it seems like most people never actually receive any letter - they just eventually get their refund after months of waiting. What I find particularly annoying is how they specifically tell you NOT to contact them or send additional info, but then provide absolutely zero transparency about what's actually happening or realistic timelines. It's like they want to keep you in the dark while they hold onto your money. Based on all the experiences shared here, I'm going to follow the consensus and wait until the 12-week mark before trying to call or use one of those callback services. At least now I have realistic expectations (8-16 weeks seems to be the norm) instead of refreshing that status page every day hoping for some miracle update. Thanks to everyone who shared their timelines - this community support makes dealing with this bureaucratic nightmare so much more manageable! The Illinois tax system may be broken, but at least we're all in this together.