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I see the "just keep calling" advice a lot, and honestly, it reminds me of the time I tried to reach my ex at 2am after a breakup... persistent but not very effective! π Seriously though, I used to be in the "just use the free tools" camp until I had a complicated issue last year. The free tools are great for basic stuff, but they don't really explain what's happening with your specific situation. The IRS transcript looks like it was designed by someone who hates humans - all codes and dates with zero explanation. Sometimes paying a few bucks to save hours of frustration is worth it. But hey, if you've got unlimited time to sit on hold or decipher IRS hieroglyphics, more power to you!
Thanks for asking this question! I'm dealing with something similar and it's good to see I'm not alone. Based on what everyone's saying, it sounds like we're both stuck waiting for the refund to go to our old accounts (if they're still open) or getting paper checks if not. One thing I'm wondering - has anyone here actually tried to contact their bank to see if they can help redirect the deposit once it hits? I know some banks have policies about forwarding funds to new accounts for a certain period after closure. Might be worth a shot before we resign ourselves to the paper check wait time. Also @CosmicCruiser, I saw you mentioned switching banks for medical bills - have you considered just transferring the money once it hits your old account? That might be faster than waiting for a paper check if your old account is still active.
One option nobody's mentioned - if your LLC hasn't done anything, consider formally dissolving it with your state instead of dealing with ongoing filing requirements. I had a similar situation and just closed mine down. The process varies by state but usually involves filing articles of dissolution and a final tax return. Once properly dissolved, you stop having the annual filing obligations. Much better than paying fees and filing returns year after year for something you're not using.
I've actually been considering this! Did you have to pay any fees to dissolve the LLC? And did you still have to file all the back-year 1065s before you could dissolve it?
Yes, there was a fee to dissolve the LLC - in my state (Michigan) it was $10 for the articles of dissolution. Still WAY cheaper than keeping it active and paying annual fees. For the back-year 1065s, unfortunately yes, I did have to file those to be completely compliant. The IRS considers those still required even if you're dissolving. I filed the missing returns with zero activity statements, requested penalty abatement (which was approved), then filed the dissolution paperwork with my state. After that, I filed one final 1065 for the partial year up to the dissolution date, checking the "final return" box. It was a bit of paperwork, but worth it to be done with the ongoing obligations.
This is exactly the situation I was in with my LLC! I formed it in early 2023 with big plans but life got in the way and it sat completely dormant. Like you, I had zero income, zero expenses, absolutely nothing. I ended up having to file Form 1065 anyway - the IRS doesn't care if you had no activity, they still want that return. The good news is it's pretty straightforward when there's nothing to report. You'll basically be putting zeros everywhere and attaching a statement explaining the lack of activity. For the penalties, I was looking at about $420 total ($210 per partner for each month late), but I successfully got first-time penalty abatement. The key is to file ASAP and include a letter explaining that you genuinely didn't know about the filing requirement for inactive businesses. Be honest about the situation and your clean tax history. One thing to watch out for - make sure you check if your state has any requirements too. Some states charge annual fees regardless of activity level. Better to find out now than get surprised later!
Have you considered the option of renouncing just before the 8-year mark? If you haven't hit that threshold yet, the exit tax situation is considerably simpler. It's worth looking at exactly where you are in that timeline.
I went through a similar situation about 3 years ago when I moved to Dubai (also 0% crypto tax). The key thing to understand is that as long as you maintain your green card, you're stuck with US tax obligations regardless of any tax treaty benefits. What really caught me off guard was the timing aspect - if you're planning to sell during a bull market, you need to factor in estimated quarterly payments to the IRS even while living abroad. I made the mistake of thinking I could just settle up at year-end and got hit with underpayment penalties. Also, don't overlook state tax implications if you haven't properly established non-residency from your previous state. Some states (looking at you, California) are notoriously aggressive about claiming you still owe state taxes even after moving internationally. My advice: get professional help BEFORE you make any moves. The exit tax calculations are complex, and there are strategies around timing your departure and asset sales that can save you significant money. I wish I'd consulted a specialist earlier instead of trying to figure it out myself.
The whole system is broken fr. They expect us to wait months while bills pile up smh
Congrats on getting through to an agent! That's half the battle right there. From my experience, once they actually remove the freeze code, you're usually looking at 1-3 weeks for the refund to hit your account. The timing really depends on which freeze code you had and how backed up their processing is. I'd suggest checking your transcript every Friday morning to see if the 846 code (refund release) shows up. That's when you'll know it's officially on its way. Hang in there - you're almost at the finish line after waiting since February!
Angelina Farar
Pro tip: early morning updates usually happen around 3-6am EST. Late night crew knows whats up lol
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SebastiΓ‘n Stevens
β’3am gang where u at π
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Giovanni Ricci
Just went through this last week! E-filed on Tuesday and it showed up on my transcript Thursday morning. The Return Transcript updates first like Brady mentioned, then the Account Transcript follows a day or two later. Since you filed Sunday, you're probably looking at Wednesday/Thursday for it to appear. The IRS systems definitely don't process over weekends so that adds to the delay.
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