Just wanted to add that if you're married but filing separately, the income limit drops to $200k (same as single filers). Also, the credit is "refundable" up to $1,500 per child, meaning you can get money back even if you don't owe taxes. The remaining $500 is non-refundable though, so you need to owe at least that much in taxes to get the full benefit.

One thing to watch out for - if you have multiple kids, each qualifying child gets the full $2,000 credit (assuming you're under the income limits). So a family with 3 kids under 17 could potentially get $6,000 total. Also make sure your kids have valid SSNs before the due date of your return - ITINs don't qualify for CTC, only SSNs do. Learned this when helping my sister with her taxes!

Be aware that even if you qualify for the FEIE, you might still have US tax obligations! The exclusion only applies to earned income (like salary) up to the annual limit ($112,000 for 2022), not investment income, rental income, etc. Also don't forget about FBAR requirements if you have foreign financial accounts totaling over $10,000 at any point during the year.

Just wanted to share my experience since I went through this exact situation last year when I moved to Japan for work in late 2020. The key thing to understand is that Form 2350 essentially puts your tax obligation on hold for the foreign income you expect to exclude - you don't have to pay tax on income you reasonably believe will qualify for FEIE. However, I learned the hard way that "reasonably expect" is important language. Make sure you have a solid plan for meeting either the physical presence test (330 days in 12 months) or bona fide residence test. I initially thought I'd qualify easily but then had to make an unexpected trip back to the US for a family emergency, which threw off my count. Also, don't forget that even with FEIE, you still need to FILE a tax return - the exclusion doesn't eliminate your filing requirement. And if you have any US-source income or foreign income above the exclusion limit, you'll still owe tax on that portion. One last tip: if you're unsure about your timeline for qualifying, consider making estimated payments anyway. The interest and penalties for underpayment can add up, and getting a refund later is usually easier than dealing with IRS collection notices while living abroad.

I'm in a very similar boat - filed my amended return about 7 weeks ago for some business expense corrections I discovered while preparing this year's taxes. The waiting is definitely anxiety-inducing when you're trying to make business decisions! Based on all the experiences shared here, I'm now planning for the 20+ week timeline that several people mentioned. What's really helped me is reaching out to my accountant to double-check that I included all the necessary supporting documentation with my amendment. She mentioned that incomplete documentation is one of the biggest causes of delays, especially with business deduction corrections. I also started looking into a small business line of credit as a backup plan for my equipment needs - the interest cost is worth the peace of mind of not being dependent on IRS timing. It's frustrating that amended returns take so much longer than regular ones, but at least this thread has given me much more realistic expectations. Thanks everyone for sharing your experiences and timelines!

I'm dealing with the same situation right now - filed my amended return 9 weeks ago for some business deduction corrections and the waiting is killing me! What's been really helpful reading through all these responses is realizing I need to completely change my business planning approach. I was naively expecting maybe 8-10 weeks max, but clearly I need to plan for 20+ weeks like many of you have experienced. I've already started conversations with my suppliers about extended payment terms, and I'm also looking into a business credit line as backup funding. One thing I'm curious about - has anyone here tried filing their amendment electronically vs. paper? I filed mine electronically but I'm wondering if that actually makes any difference in processing time, or if they all end up in the same manual review queue anyway. This thread has been incredibly valuable for setting realistic expectations, so thank you all for sharing your experiences and timelines!

Anyone know if it matters whether the bonus was in cash vs. stock? Robinhood gave me their bonus as fractional shares rather than cash. I got a 1099-MISC too, but wondering if I should report it differently since it was stock not cash?

Just wanted to share my experience as someone who went through this exact same situation with Robinhood's deposit match bonus. I initially made the mistake of reporting it as investment income, which caused some confusion when I later sold stocks from my account. The key thing to remember is that promotional bonuses from brokerages are taxable income in the year you receive them, regardless of whether you actually withdraw the money or keep it invested. The 1099-MISC correctly captures this as "Other Income" and should be reported on Schedule 1, Line 8. One thing that helped me was keeping good records of when I received the bonus versus when I made any trades. This way, if the IRS ever has questions, I can clearly show that the bonus income was separate from any investment gains or losses. Also, if you received the bonus as stock (like fractional shares), make sure your brokerage statements reflect the correct cost basis for those shares to avoid double taxation later.

As someone who used to volunteer with VITA (Volunteer Income Tax Assistance), I'd really encourage you to visit a VITA site for your situation. Look up "VITA free tax prep" and your city to find locations near you. Your case is complex and needs personal attention since it involves potential dependent claims as a minor. VITA volunteers are specially trained for situations like yours, particularly for lower-income families. They'll help determine if you can claim your siblings or if your mother should file even with only SSI income (sometimes filing is beneficial even without tax liability).

Just FYI - my cousin was in almost this exact situation (she was 17), and when she tried to claim her younger siblings, her return got flagged for review and was delayed by months. The IRS eventually allowed it after she submitted additional documentation, but it was a huge hassle. You might want to file on paper with a detailed explanation letter attached to avoid automatic rejections if you go this route.