Make sure you get EVERYTHING in writing from the startup! I got burned badly last year when I did development work for equity and the company changed terms on me after 8 months of work. Had already deducted $3k in equipment on my taxes and then had nothing to show for it.

Benjamin, you're asking all the right questions! A few key points to add to the excellent advice already given: 1. **Documentation is crucial** - Keep detailed records of your equity agreement, work hours, business purpose, and all expenses. The IRS will want to see this is a legitimate business activity, not a hobby. 2. **Consider forming an LLC** - Since you're doing significant startup work, you might want to structure this properly. An LLC can provide liability protection and may make your business deductions cleaner. 3. **Track everything separately** - Keep your startup work completely separate from your W2 job. Separate bank accounts, time tracking, expense records, etc. This will help if you ever get audited. 4. **Quarterly estimated taxes** - Even though you're not getting cash now, if the startup starts generating income or your equity becomes valuable, you'll need to make quarterly payments. Plan ahead. The MacBook deduction is legitimate business expense that goes on Schedule C. Just make sure you can prove it's used primarily for the business (keep usage logs if needed). Good luck with the startup!

I'm in the exact same situation! Filed our 941-X for 2020 Q2 and Q3 back in September 2021 and still nothing. We're a small restaurant that kept 8 employees on payroll even when we were only doing takeout orders during the lockdowns. The credit would be around $42,000 for us. I've been following this thread closely and just wanted to say thank you to everyone sharing their experiences and suggestions. It's reassuring to know we're not alone in this endless waiting game, even though it's frustrating that so many small businesses are still stuck in limbo. Based on what I'm reading here, it sounds like persistence is key - whether that's through the phone services mentioned, document review tools, or just keeping detailed records for follow-up letters. Has anyone had success with congressional inquiries? I've heard mixed things about whether local representatives can actually help with IRS issues like this.

This thread has been incredibly helpful - thank you all for sharing your experiences! I'm in a similar situation with our 2020 ERC claim filed via 941-X in late 2021, still waiting. Reading through everyone's updates, it seems like there are really three main approaches that have worked: 1) Using tools like taxr.ai to identify and fix potential errors in your filing, 2) Getting through to the IRS via services like Claimyr to get actual status updates, and 3) Being persistent with follow-up documentation and inquiry letters. What strikes me is how many of you discovered errors or missing documentation that was causing delays - makes me wonder if I should review my own filing more carefully. The IRS clearly isn't going to tell you what's wrong; you have to figure it out yourself. For those still waiting like me, it's frustrating but somewhat comforting to know this isn't unusual. Emma Wilson's 26-month timeline gives me hope that these claims are still being processed, just very slowly. I think I'll try the document review approach first, then maybe the phone service if I can't identify any obvious issues with my filing. Has anyone here had their claim outright denied, or have most of you who waited long enough eventually received payment?

The IRS is so behind rn its not even funny. My brother filed in February last year and didnt see his $ until September smh

I'm in a similar situation - filed with TurboTax about a week ago and got the acceptance notification. From what I've read, the test batch thing is mostly for early filers in December/January before the season officially opens. Since we're filing now during regular season, we're definitely in the normal processing queue. The 21-day timeline is pretty standard for simple returns, but it can vary. I've been checking WMR obsessively too 😅 Hang in there!

I had this exact same issue last year! The Wage and Income transcript is definitely the way to go - it shows everything the IRS has on file including all the EINs of companies that withheld taxes from you. One thing to watch out for though is that sometimes employers file corrections after your W-2 is issued, so what's on the transcript might be different (and more accurate) than what's on your actual W-2. Also make sure you're looking at the right tax year - I accidentally pulled 2022 data when I needed 2023 and was confused for way longer than I should have been! The transcript will show you exactly who submitted what withholding info under your SSN.

Just went through this same headache a few weeks ago! The Wage and Income transcript from your IRS online account is exactly what you need. It shows every single entity that reported withholdings under your SSN, complete with their EIN numbers so you can identify exactly who they are. What really helped me was printing it out and comparing it line by line with my actual W-2s and 1099s - turned out one of my employers had filed a corrected W-2 that I never received, which explained the discrepancy. The transcript will show you the most current/accurate information the IRS has on file, even if it differs from the original documents you received. Good luck getting it sorted!

18 Does anyone know if dental and vision insurance premiums count toward the medical expense deduction too? My W-2 doesn't break anything out either.

Just wanted to add another perspective as someone who went through a similar situation last year. One thing that might help is to check if your husband's employer offers an HSA (Health Savings Account) or FSA (Flexible Spending Account). If you're contributing to either of these, those contributions would also reduce your taxable income and might explain why some health-related expenses aren't showing up where you expect them on the W-2. Also, if you do end up itemizing and can deduct some of your medical expenses, don't forget to include things like prescription costs, doctor visits, and even mileage to medical appointments (it's 22 cents per mile for 2024). These smaller expenses can add up and help you reach that 7.5% AGI threshold more easily. FreeTaxUSA actually has a pretty good medical expense tracker if you dig into the itemized deductions section - it walks you through all the different categories of qualifying expenses.