I went through almost the exact same situation with my single-member LLC formed in August 2021. The advice here about not being able to backdate before your LLC formation date is absolutely correct - I learned this the hard way when I initially tried to elect S-corp status from January 1, 2021. What really helped me was getting organized with all my documentation first. Make sure you have your Articles of Organization showing the exact formation date, copies of all your previous tax filings, and any correspondence from the IRS. When you file Form 2553 with the effective date of 3/23/2021, you'll also want to include a detailed reasonable cause statement explaining why you're filing late. One thing I wish someone had told me earlier - keep detailed records of when you submit everything to the IRS. They can take months to process late S-corp elections, and having your submission confirmation helps if you need to follow up. Good luck with getting this sorted out!

I'm dealing with a very similar situation right now - formed my single-member LLC in February 2021 but never filed the S-corp election on time. After reading through all these responses, I'm feeling much more confident about how to handle this. The key takeaways that have been most helpful: 1) You definitely can't backdate the election before your LLC existed (so March 23, 2021 is your earliest possible effective date), 2) Rev. Proc. 2013-30 relief seems like your best path forward since you've been filing consistently as an S-corp, and 3) You need to act quickly since that 3 year + 75 day window is approaching fast. I'm planning to use the approach mentioned by Margot Quinn - filing Form 2553 with my LLC formation date as the effective date and including a detailed reasonable cause statement referencing Rev. Proc. 2013-30. The fact that you've been consistently treating your business as an S-corp and filing accordingly should work in your favor. One question for anyone who's been through this - did the IRS require any additional documentation beyond Form 2553 and the reasonable cause statement, or was that sufficient for approval?

I ended up using TaxCycle for my 941X filings and it helped quite a bit with getting the calculations right. Still took almost 5 months to get the credit though.

I'm in a very similar situation - filed my 941X forms for 2020 ERTC in March and still waiting. Based on what I'm seeing here, it sounds like we're right in that 4-6 month window that seems to be typical. One thing that's been helpful for me is keeping detailed records of when I filed and what I submitted. I created a simple spreadsheet tracking my filing dates, amounts claimed, and any correspondence. This way when I do eventually call the IRS (probably around the 5-month mark based on the advice here), I'll have everything organized. For what it's worth, I did file electronically through my tax software, and my CPA mentioned that electronic filings might have a slight advantage in processing time since there's no manual data entry required. Though with the volume of claims they're dealing with, I'm not sure it makes a huge difference. Hang in there - sounds like most people are eventually getting their credits, it's just taking much longer than anyone expected!

Does anyone know if there's a limit to how many hardship withdrawals you can take from an annuity? I had to take one earlier this year for about $9,000 for home repairs after storm damage, and now I'm facing some medical bills. My annuity company also didn't ask for documentation, but I'm worried about taking a second withdrawal in the same year.

I went through a very similar situation last year with my annuity withdrawal. Like you, I was surprised they didn't ask for documentation, but after doing some research and talking to my tax preparer, I learned this is actually pretty normal for annuities. The key things to remember: you'll get a 1099-R form early next year showing the withdrawal amount and any taxes withheld. Make sure to report this accurately on your 2025 tax return. Since you mentioned medical bills, keep all those receipts and documentation - if your out-of-pocket medical expenses exceed 7.5% of your adjusted gross income, you might be able to avoid the 10% early withdrawal penalty by using the medical expense exception. I'd recommend calculating whether you qualify for that exception now so you can plan accordingly. If you're under 59½ and don't qualify for an exception, you'll owe the penalty plus regular income tax on the withdrawal. But the fact that your annuity company didn't require hardship proof shouldn't cause any issues with the IRS - that's between you and the insurance company, not a tax requirement.

Has anyone noticed if having tax fees taken out of your refund affects the timing? I'm wondering if that extra step with the tax preparer's bank might cause delays compared to people who paid their filing fees upfront.

I'm with Brinks too and have a 3/15 DDD - still waiting as of this morning. Based on what I'm seeing here, it sounds like Brinks is pretty reliable about hitting the exact date rather than depositing early like some other banks. @Amina Bah, thanks for confirming you got yours today with the same DDD! That gives me confidence mine should hit soon. I'm curious though - for those who've used Brinks for multiple tax seasons, have you noticed any pattern with what time of day the deposits typically show up? Some banks seem to process these overnight while others do it during business hours.

This Health Care Tax Credit thing is so needlessly complicated! I had the exact same misunderstanding last year. The thing that fixed it for me was filling out Form 8962 manually instead of relying solely on tax software. That form walks you through the exact calculation and helped me see why I wasn't getting the "unused" portion back. Also, make sure you're distinguishing between the HCTC (Health Coverage Tax Credit) and the PTC (Premium Tax Credit). They're different credits with different rules, and sometimes people mix them up. Based on your situation, sounds like you're dealing with the PTC for marketplace insurance.

I went through this exact same confusion last year! The key thing to understand is that the HCTC (or more accurately, the Premium Tax Credit for marketplace plans) is designed as a subsidy to make insurance affordable, not as a refundable benefit you can pocket. When you qualified for $650/month but only needed $429/month for your chosen plan, you essentially selected a plan that required less government assistance. The remaining $221/month doesn't come back to you - it stays with the government as "unused subsidy." However, since your actual income ($47,500) was higher than your estimate ($45,000), you'll need to reconcile this on Form 8962. This income increase might actually reduce your final credit amount, and you could potentially owe back some of the advance payments you received throughout the year. The good news is there are repayment protection limits based on your income level. I'd recommend manually working through Form 8962 to see the exact calculation rather than just relying on FreeTaxUSA's automatic calculation. This will show you exactly how your advance payments, final credit amount, and income changes all factor together.