When u finally get in make sure to save PDFs of everything. Don't wanna go thru this whole process again trust me

Just went through this myself last month! Here's the step-by-step: 1) Look for "Get Transcript Online" button (should be blue and prominent on the main transcript page), 2) You'll be redirected to ID.me for identity verification - this is the tricky part that trips everyone up, 3) Have your SSN, phone, and a government ID ready for the verification process, 4) Once verified, you can download your transcripts immediately as PDFs. The ID.me verification can take 10-15 minutes if you do the selfie route, or longer if you need to upload documents. Don't get discouraged if it seems complicated - it's worth it for instant access. And definitely avoid that maintenance window on Feb 9th!

Don't waste your time with the 1099-C as an individual. The IRS will most likely reject it since you're not a financial institution. I went down this rabbit hole last year with a tenant who bailed owing rent. The most straightforward approach is claiming a non-business bad debt deduction on Schedule D. You'll need to attach a statement explaining the nature of the debt, when it became worthless, and your efforts to collect. It gets reported as a short-term capital loss regardless of how long the debt was outstanding. One important thing - make sure you claim it in the year the debt actually became worthless. If the moving company is still technically in business, even if they're not responsive, the IRS might argue the debt hasn't become completely worthless yet.

I've been through a similar situation with a contractor who disappeared after doing subpar work. Based on my research and experience, the bad debt deduction route on Schedule D is definitely the way to go rather than trying to issue a 1099-C as an individual. The key documentation you'll need includes: the original agreement showing the movers acknowledged liability for the damage, receipts for the repair work, records of the partial payment they made, and most importantly - evidence of your collection efforts (emails, certified letters, phone call logs, etc.). Since they've made partial payment, you have strong evidence that they acknowledged the debt. For the remaining $1,075, you'll need to establish when the debt became "wholly worthless." If the company is truly defunct, gather evidence of that - check if their business license was revoked, if their phone/email bounces back, or if their office is closed. One thing to consider: you mentioned they might still file taxes this year. If there's any chance they're still operating or could pay in the future, the IRS might not consider the debt completely worthless yet. The timing of when you claim this deduction matters for audit purposes. Also remember this will be treated as a non-business bad debt, so it's limited to $3,000 per year against ordinary income, but you can carry forward any excess.

Here's a trick: call them every single day and be persistent. Ask for a supervisor if the first person can't help. I did this last year and suddenly my money appeared the next day. They can expedite if they want to, they just don't unless you make noise.

This is unfortunately super common with SBTPG. I've been through this exact scenario twice now. The "funded" status basically means they've received your refund from the IRS but haven't processed it to your bank yet. A few things that might help: 1. Call them every day and document each call - ask for reference numbers 2. Request to speak with a supervisor if you're not getting clear answers 3. Ask specifically if there are any holds or verification issues on your account 4. Double-check that all your banking info is correct in their system The 14-day timeframe everyone mentions is real - they legally have that long to process it. But in my experience, being persistent with daily calls can sometimes speed things up. The most frustrating part is their system rarely updates properly, so your money might hit your account before their website even shows a trace number. Hang in there - you're getting close to the point where you can really start pushing them for answers!

This is such a timely discussion - I'm dealing with almost the exact same situation! Got my ERTC for 2020 just last month after what felt like an eternity of waiting. One thing I learned from my CPA is that even though we're past the normal 3-year audit window, the IRS still expects proper reporting of all income and credits. The key insight here is that the ERTC creates a "subsequent event" that requires amendment regardless of timing. For S-Corps specifically, the flow-through implications are crucial. You'll need to amend the 1120-S first to reflect the reduced wage expenses (since ERTC reduces your wage deduction), which will generate a corrected K-1. Then use that corrected K-1 to amend your personal 1040. What really helped me was understanding that this isn't about whether you're "safe" from audits due to timing - it's about compliance. The IRS has been pretty clear that ERTC recipients need to properly report these transactions when received, even if it's years later. Also worth noting: some states have different rules about how they treat ERTC, so definitely check your state requirements too. In my state, the reduced federal wage deduction flowed through and required a state amendment as well.

This thread has been incredibly helpful - I'm in a similar boat with my ERTC finally coming through for 2020! One thing I want to add that hasn't been mentioned yet: if you're using a tax professional for the amendments, make sure they're familiar with the specific ERTC reporting requirements. I initially went to my regular tax preparer who admitted they weren't up to speed on the latest ERTC amendment procedures since it's been such a moving target with all the delays and changes. I ended up switching to someone who specializes in business tax credits and it made a huge difference in understanding exactly what needed to be reported and how. Also, keep really detailed records of when you received the ERTC payment and any correspondence from the IRS about it. From what I understand, this documentation could be important if there are ever questions about the timing of your amendment. The whole situation is unusual enough that good documentation seems extra important. Sean, definitely don't ignore this just because you're outside the normal window - everything I've read suggests that proper reporting is still required regardless of timing!

Has anyone used Rocket Dollar for their checkbook IRA? They advertise a flat fee structure that looks pretty competitive, but I've heard mixed reviews about their customer support.

I've been managing my checkbook IRA for about 3 years now and wanted to add a few practical tips that I learned the hard way: 1. **Document everything religiously** - Keep detailed records of every transaction, investment decision, and communication. The IRS can audit self-directed IRAs, and you'll need clear documentation showing business purpose for all activities. 2. **Set up separate accounting software** - Don't just rely on bank statements. I use QuickBooks to track the LLC's finances separately from my personal accounts. This makes annual reporting much cleaner and helps avoid any appearance of commingling funds. 3. **Annual valuation requirements** - Your custodian will need fair market value of all assets by December 31st each year. For illiquid investments like real estate or private businesses, you may need professional appraisals. Budget for this ongoing cost. 4. **State compliance matters** - Don't forget your LLC has state-level compliance requirements too. Annual reports, registered agent fees, etc. These vary by state but can add up over time. The freedom is amazing once everything is properly set up, but the administrative burden is real. Make sure you're prepared for the ongoing responsibilities, not just the initial setup costs.