Has anyone dealt with the timing issue if you filed amended 941s to claim the ERC after you already filed your 1120-S for that tax year? I'm in this situation now - claimed ERC for 2021 quarters but already filed my 2021 1120-S before receiving the credit.

I've been dealing with this exact issue for my S-corp and can confirm what others have said - you absolutely need to reduce wage expenses by BOTH the refundable and non-refundable portions of the ERC on your 1120-S. The key thing to remember is that the ERC is essentially reimbursing you for wages you already deducted as business expenses. If you don't reduce your wage expense by the full ERC amount, you're getting a double tax benefit - once from deducting the wages and again from the credit. I'd also recommend keeping detailed documentation of how you allocated the ERC reduction between different wage categories (officer compensation vs regular wages) in case the IRS has questions later. This becomes especially important if you're claiming QBI deductions since the wage amounts on your K-1s will be affected by these reductions.

This is so frustrating! I had the same issue - filed on 1/22 and never saw any advance option. Really wish TurboTax would be upfront about when these programs end instead of leaving us guessing. At least now I know for next year to file literally the first day possible if I want that advance. Thanks for posting this question - glad I'm not the only one who missed out!

This happened to me too! Filed on 1/26 and was so confused when there was no advance option anywhere. Really wish they would put a clear notice on their website about when the advance program ends each year. It's frustrating to find out after the fact that you missed the cutoff by just a few days. At least we're all in the same boat though - sounds like a lot of people ran into this issue this season!

My parents pulled this same garbage with me. Here's what I learned: If you're under 24 and a full-time student, they CAN legally claim you as a dependent, BUT that doesn't mean they own your refund!! The refund is based on YOUR income and YOUR withheld taxes. Next year, file your own taxes ASAP before your parents can. You can still mark that "someone can claim you as a dependent" but YOU control where the refund goes. For this year, unfortunately, it might be a matter of family negotiation rather than legal action. The IRS won't get involved in family disputes even if you're technically right.

I'm really sorry you're dealing with this frustrating situation. As others have mentioned, legally that refund belongs to you since it's from taxes withheld on YOUR earnings. Being claimed as a dependent doesn't give your mom ownership of your refund. That said, since she already has the money deposited in her account, your best options are probably: 1) Having a calm conversation about splitting it fairly - maybe contributing some toward household expenses but keeping money for your textbooks and car repairs, or 2) Making sure you file your own taxes next year before she can. For next year, open your own bank account if you don't have one already, and file as soon as you get your W-2. You can still check the box that says someone can claim you as a dependent, but YOU control where your refund goes. I know it's tough when it's family, but you worked for that money and you deserve to have control over it. Try approaching the conversation from a "fairness" angle rather than making it confrontational - maybe suggest keeping 60-70% for your school/car needs while contributing the rest to household expenses.

Quick question - has anyone dealt with this situation but with kids involved? We're in the same boat (spouse waiting for SSN) but we also have two children from my spouse's previous marriage who are also in the green card process. Can we claim them as dependents without SSNs? Or do we need to wait until everyone has their numbers?

I went through this exact situation two years ago! You absolutely can file married filing jointly even without your spouse's SSN. Here's what worked for me: 1. File a paper return (no e-filing option in this case) 2. Write "Applied For" in the SSN field for your spouse 3. Attach a statement explaining that your spouse has applied for an SSN through the green card process and is awaiting issuance 4. Include a copy of any USCIS receipt notices showing the SSN application was submitted The key thing to remember is that you'll still get all the married filing jointly benefits - higher standard deduction, better tax brackets, etc. The downside is that processing will take longer (expect 8-12 weeks instead of the usual 2-3 for e-filed returns). Once your wife gets her SSN, you don't need to amend anything. Just call the IRS to provide the new number so they can link it to your return. This prevents any future correspondence issues. Don't stress too much about it - the IRS is used to handling these situations with immigration cases. Just be thorough with your documentation and you'll be fine!

Pro tip: Keep checking your transcript every Tuesday and Friday morning. Thats when they usually update the system

Just went through this exact same situation last year. Filed my amendment in August and the "Where's My Amended Return" tool showed that same "currently unavailable" message until January. What really helped me was setting up alerts on my IRS account to get notified when anything changed on my transcript. Also, if you have a local Taxpayer Advocate Service office, they can sometimes help if you're past the 16-week mark and experiencing hardship. The wait is brutal but hang in there - it will eventually get processed!