Something important nobody mentioned yet - make sure you actually have documentation that they're an S-corp! Just because someone says they're an S-corp doesn't make it true. I always request a W-9 form from all vendors which clearly indicates their business type. The W-9 form has checkboxes where they identify their entity type (individual, LLC, S-corp, C-corp, etc). If they check the S-corporation box AND you have this W-9 on file, then you don't need to send them a 1099. But without proper documentation, you could be liable for not filing required 1099s.

One other thing to consider - some states have different 1099 filing requirements than the federal IRS rules! California, for example, doesn't automatically exempt all corporations from 1099 reporting. I learned this the hard way and got a notice from the state tax board. Definitely check your state requirements if applicable.

I went through this exact same situation earlier this year! Got my ID verification acceptance in March and was losing my mind waiting for updates. Here's what actually happened vs what they told me to expect: They said 9 weeks, but my transcript updated after exactly 3 weeks and 2 days. Once it updated, everything moved fast - WMR changed the next day and refund was deposited 4 days later. The key things that helped me stay sane during the wait: - Only check your transcript on Friday mornings (they update overnight Thursday) - Don't bother checking WMR until you see movement on your transcript first - Look for transaction code 846 on your transcript - that's your actual refund date The hardest part is that there's literally nothing you can do but wait once verification is complete. But the good news is most people see movement way before that 9-week maximum they quote. Since you just got your acceptance today, I'd expect to see something in the next 2-4 weeks based on what I've seen from others. Hang in there! The waiting is torture but you're through the hardest part now that verification is done.

I went through this exact same process about 6 weeks ago! After getting my verification acceptance, I was checking my transcript obsessively every single day (sometimes twice a day - the anxiety was real). Here's what happened in my case: My transcript updated exactly 16 days after verification completion with all the processing codes, then WMR changed to "refund approved" 2 days later, and the money hit my account 5 days after that. So total time from verification acceptance to refund was about 3.5 weeks. A few things that helped me during the wait: - Your transcript is going to be way more informative than WMR, so focus on that - Friday mornings are when most transcript updates happen (overnight Thursday into Friday) - Once you see transaction code 846, that's your actual refund date - everything else is just processing steps The 9-week timeframe they give you is definitely the worst-case scenario. Most people I've talked to who went through ID verification recently got their refunds in 3-5 weeks after acceptance. Since you and your husband file jointly, there might be a slight delay compared to single filers, but nothing major. The hardest part is that once verification is complete, there's literally nothing else you can do except wait. But you're definitely through the worst part now! Try to check your transcript only once a week if you can manage it - the constant checking just makes the anxiety worse. Good luck and hopefully you'll see movement soon!

Has anyone ever just ignored this nominee stuff? I have a joint account with my wife (not married yet when we opened it) and have been getting the 1099 in my name for years. We just split it 50/50 on our taxes and haven't filed any nominee forms. No issues so far...

I went through this exact situation last year with a joint account I have with my mom. The nominee distribution process seems intimidating but it's really not that bad once you understand the steps. One thing I'd add to the great advice already given - make sure you keep detailed records of your contribution percentages and any documentation showing how you split expenses or contributions. I created a simple spreadsheet tracking every deposit and who made it, which made calculating the 35/65 split much easier come tax time. Also, don't stress too much about the January 31st deadline for the 1099 forms that was mentioned. While that's the official deadline, the IRS is generally understanding if you're a few weeks late on nominee distributions, especially for first-time filers. Just get them filed as soon as possible. The key thing is being consistent - whatever percentage split you use this year, stick with it going forward unless your actual contribution pattern changes significantly. The IRS likes consistency in how joint accounts are reported year over year.

Just a heads up - after waiting 5 months for my amended return with no updates, I finally called my local Taxpayer Advocate Service office. They can sometimes help when normal IRS channels are failing. They can't speed up processing but they can at least figure out where your return is and what's happening with it.

I went through this exact same situation last year and it was incredibly frustrating. Here's what I learned that might help you: First, the "Where's My Amended Return" tool is notoriously unreliable and often doesn't update until very late in the process. The fact that it shows no record doesn't necessarily mean they don't have it - they might just not have entered it into their system yet. Second, since you have certified mail confirmation of delivery, you're in a good position. Keep that documentation safe - it's your proof of filing. Here's what worked for me: I waited until the 16-week mark from when I mailed it (not when it was delivered), then called the IRS early on a Tuesday morning right when they opened. I specifically asked to speak with someone in the Amended Returns department and mentioned that I had certified mail proof of delivery but no updates in their system. The agent was able to find my return in their "unprocessed" pile and confirmed it was received but hadn't been assigned to a processor yet. She made a note in my file to expedite it due to the length of time waiting. My advice: Don't resend it yet - that could create duplicate processing issues. Wait until at least 16 weeks from your April 3rd mail date, then call with your certified mail tracking number ready. Be patient but persistent.

One thing nobody's mentioned - check with your insurance company BEFORE you do this! When my brother bought a car for me in Colorado while I lived in Illinois, there was a gap where neither of our insurance policies wanted to cover it during the drive back. My insurance wouldn't cover it until it was registered in Illinois, his insurance wouldn't cover it because he wasn't the owner, and we ended up having to get expensive temporary transit insurance for the drive home. Also make sure you understand how you'll get the car from Nevada to Minnesota. Will you fly out to drive it back? Will she drive it to you? Each option has different insurance implications.

Great question about the insurance coverage! Yes, most major insurance companies are familiar with this situation and have specific solutions. You'll want to ask your agent about a "binder" or "temporary coverage" policy that covers the vehicle from the moment of purchase until you get it registered in Minnesota. Some insurers can extend your existing policy to cover a newly purchased vehicle for a limited time (usually 30 days), but you need to notify them within a certain timeframe after purchase - often within 14 days. Others will issue a separate temporary policy specifically for the transit period. The key is calling them BEFORE you purchase to set this up. Have your VIN ready when you call (the dealer should be able to provide this before finalizing the sale). Also make sure the coverage includes comprehensive and collision, not just liability, since you'll be driving an expensive new vehicle across multiple states. One more tip: if you're flying out to get the car, consider having your sister add it to her policy temporarily as a backup, just in case there are any delays or complications with your own coverage. Better to have redundant coverage than none at all!