not sure if this helps but when i was in ur situation I actually went to my local IRS office (you need to make an appointment) and they were able to tell me exactly what the letter was about and what I needed to do. Saved weeks of waiting.

I feel your frustration! I went through something similar last year and it turned out to be an identity verification issue. A few suggestions that helped me: 1. Try calling the IRS early Monday morning right at 7 AM - I had better luck getting through then 2. Check if you can verify your identity online at irs.gov without waiting for the letter - sometimes this works 3. Look at your tax transcript for any codes like TC 570 which indicates a hold on your account The waiting is the worst part, but hang in there. Most of these verification issues get resolved once you can finally connect with someone or complete the online process. Your refund should be released pretty quickly after that! Also double-check that your address is current with the IRS - sometimes these letters go to old addresses which explains the delay.

I received my first round of child tax credit payments last time without any issues. According to the official IRS newsroom (https://www.irs.gov/newsroom), they're planning to start payments in July, but they recommend ensuring your 2023 tax return is filed and processed before then. They're also planning to relaunch the Child Tax Credit Update Portal where you can check payment status, update direct deposit information, and make other changes as needed.

Welcome to the community! The July timeline is what most sources are indicating, but I'd recommend signing up for IRS email updates if you haven't already - they'll send notifications when the payment portal goes live and when the first payments are scheduled to go out. Since you mentioned being new to the US tax system, one thing to keep in mind is that the IRS typically processes these payments in batches, so even once they start in July, it might take a few weeks for everyone to receive their first payment. Make sure your direct deposit info is current on your most recent tax return to avoid any delays with paper checks.

Anybody know what happens if you just ignore the excess contribution? My brother accidentally contributed $300 too much to his HSA last year and his tax guy told him it wasn't worth the paperwork to fix it lol.

This is exactly the kind of HSA mess that catches so many people off guard! You're definitely not alone in this situation. Since you've already gotten the excess contribution back from your HSA provider, you're actually in better shape than many people who don't realize they have this problem until much later. A few additional points to consider beyond what others have mentioned: 1. Make sure you have documentation of when the excess contribution was made versus when it was withdrawn. The timing affects whether you owe the 6% excise tax for the full year or just part of it. 2. If your HSA provider sent you a 1099-SA for the excess contribution distribution, don't panic - this is normal and expected. You'll reconcile everything on Form 8889. 3. Consider setting up automatic contribution limits with your payroll department for next year to prevent this from happening again. Many people get tripped up by mid-year job changes or bonus payments that push them over the limit. The good news is that once you file correctly this year with Forms 8889 and 5329, you'll be completely squared away with the IRS. It's a pain to deal with, but it's a one-time fix rather than an ongoing problem.

Called them and the rep said these letters dont mean anything anymore cause theyre so backed up. might as well be using carrier pigeons at this point lmaooo

Been waiting 67 days since my review letter and finally got some movement yesterday! My transcript updated with a release date for next Friday. Hang in there everyone - they're definitely working through the backlog, just super slowly. The waiting is brutal but there's light at the end of the tunnel 🙏

Don't forget that if you're married, having your spouse be an employee of the company (a real employee with actual duties) can open up some options. You could potentially provide health benefits to employees without running into the 2% shareholder limitations. This only works if your spouse isn't also a shareholder though.

One thing I haven't seen mentioned yet is the importance of timing when implementing these strategies. If you're going to start having your S-Corp pay health insurance premiums directly, you need to make sure this is consistent throughout the entire tax year. You can't just start doing it partway through the year for the expenses you've already paid personally. Also, keep in mind that if you do switch to having the corporation pay premiums directly, you'll need to adjust your officer compensation accordingly since this will increase your W-2 wages. This might push you into a higher tax bracket, so run the numbers carefully. For those considering the spouse employment route, remember that you'll also need to factor in the additional payroll taxes and potential workers' compensation requirements depending on your state. Sometimes the administrative burden can outweigh the tax benefits, especially for smaller operations.