Has anyone used TaxDome or TaxCaddy for organizing docs for S-corp elections? My accountant suggested those platforms but I'm not sure if they help with the actual election process or just general tax document management.

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!

Have you received any notifications from Brinks about pending deposits? I had a DDD of March 8th and got a notification from my bank exactly 24 hours before the deposit hit my account. Also, did you file early or closer to the February 12th start date? I've noticed that early filers sometimes have different processing patterns.

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.

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.

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!

i messed up and claimed this incorrectly in 2021... ended up with a CP12 notice and had to pay back $1500 😭 the instructions are so confusing its ridiculous

This thread is so helpful! I had no idea about the American Opportunity Credit until now. I'm a sophomore working part-time and paying for school mostly with loans, so it sounds like I'd qualify for the full $2,500. Quick question though - do I need to wait for my school to send me Form 1098-T or can I request it early? I'm eager to file and get my refund since every dollar counts right now. Also, has anyone had issues with the IRS questioning loan-funded expenses? I want to make sure I have everything documented properly before I submit.