Has anyone considered the F reorganization approach? IRC Section 368(a)(1)(F) provides for a "mere change in identity, form, or place of organization of one corporation, however effected." You could potentially form a new S corporation and have it acquire the C corporation in an F reorganization. This would effectively convert the C corporation to an S corporation while potentially providing more flexibility than a direct conversion.

One strategy worth exploring is a gradual distribution approach over several years rather than trying to access all the accumulated earnings at once. Since you're the sole shareholder, you have complete control over the timing. You could take reasonable salary payments (which are deductible to the corporation), combined with modest dividend distributions spread over multiple tax years to manage your overall tax bracket. This won't eliminate the double taxation on accumulated E&P, but it can significantly reduce the overall tax burden by keeping you in lower marginal tax brackets. Another consideration is whether the corporation has any business expenses or investments that could be made before distributions - things like equipment purchases, facility improvements, or even funding a corporate retirement plan. These legitimate business expenses reduce the accumulated E&P and give you more tax-efficient ways to benefit from the corporate assets. The key is that there's no magic bullet to completely avoid tax on C corp accumulated earnings - the tax code specifically prevents this. But with proper planning, you can minimize the total tax impact through timing and strategic use of corporate funds.

Does anyone know if there's a specific form for QCDs? My tax software doesn't seem to have a clear place to enter them separately from regular distributions.

I had a similar situation last year and want to emphasize something that tripped me up - make sure your charitable donations were made directly from your IRA custodian to the charity, not from you personally after receiving the distribution. The key requirement for QCDs is that the money must go directly from your IRA to the qualified charity without you ever touching it. If you received the distribution first and then wrote a check to the charity, it doesn't qualify as a QCD even if you did it the same day. Also, keep detailed records of the transfer instructions you gave your IRA custodian and the acknowledgment letters from each charity. The IRS may ask for this documentation if they have questions about your return. I learned this the hard way when I had to scramble to find all my paperwork during a correspondence audit last year.

FYI - NJ announced they're taking longer this year due to increased fraud prevention measures. Their official statement says most refunds will take 4-6 weeks minimum, even for simple returns with no issues. They're manually reviewing more returns than in previous years.

Just wanted to add that I'm seeing the same thing with my NJ return filed around the same time as yours. The "no information available" status is really frustrating when you're waiting for your refund. I've been checking daily but trying to be patient since everyone here is saying 4-6 weeks is normal now. At least it's good to know we're not alone in this - seems like NJ is just really backed up this year with all the fraud prevention measures they mentioned.

Filed jan 29th still processing... meanwhile my neighbor filed last week and already got hers back wtf 🤡

Filed mine on Jan 24th and just got my refund deposited this morning! So there's definitely hope - seems like they're working through them in batches. The processing time varies a lot but most people I know who filed in late January are starting to see theirs come through now.

anybody else notice the where's my refund site keeps crashing? cant even check my status half the time smh

I'm in the same situation - filed early March and still waiting. It's frustrating but sounds like we're not alone. The backlog explanation from Annabel makes sense even though it sucks. I've been checking the status tool obsessively but trying to be patient. At least knowing it's 8-12 weeks helps set expectations. Fingers crossed we all see movement soon!