Do you know if this applies to sales tax collection too? I'm in TX with a single-member LLC and I'm confused about whether the disregarded status affects my sales tax obligations.

Good question about sales tax. The disregarded entity status generally doesn't affect your sales tax obligations. In Texas, you still need to collect and remit sales tax based on your LLC's activities, regardless of how it's treated for income tax purposes. Your LLC is still recognized as the legal business entity that's making the sales, so the sales tax registration and collection responsibilities belong to the LLC. Texas doesn't really care that you're disregarded for federal income tax purposes - they just care that you collect the proper sales tax on taxable transactions.

It's actually a good thing! "Disregarded entity" sounds negative but it just means the IRS is ignoring your LLC as a separate tax entity. You report business income on your personal return with Schedule C (same as a sole proprietorship). Benefits: One tax return instead of two, possible loss deductions against other income, simpler paperwork. You still get the legal liability protection of an LLC - that doesn't change!

I've seen those "W" markings on some of his trades but wasn't entirely sure what they meant. Do I need to do something special with those during tax filing?

Those "W" markings are exactly what I'm talking about - they indicate wash sales. When you see that marking, it means your husband sold something at a loss and then bought back the same (or very similar) security within 30 days before or after that sale. The special handling required is that you can't claim the loss from that sale on your taxes right away. Instead, the loss amount gets added to the cost basis of the replacement shares. It essentially defers the loss until you finally sell the replacement shares without buying back in again. Most good tax software will handle this correctly if you import properly, but it's worth double-checking those specific transactions after import to make sure they're coded as wash sales.

DON'T just use the summary! I did that last year and got a CP2000 notice from the IRS months later saying I underreported my income. The summary doesn't always capture everything correctly, especially for wash sales and cost basis issues. The IRS gets the detailed information directly from Robinhood, so they know exactly what trades happened. If your summary numbers don't match their detailed records, you'll likely get flagged.

We actually do have some student loan interest from my wife going back to school part-time! I completely forgot about that. And I think we might qualify for the child care credit since we pay for after-school programs. Do you know if TurboTax automatically checks for these or do we need to specifically enter them somewhere?

TurboTax should ask about these items during the interview process, but sometimes it's easy to miss them if you're rushing through. Look specifically for the "Deductions & Credits" section in TurboTax and make sure you go through every category. For student loan interest, you should have received a Form 1098-E from the loan servicer showing how much interest was paid last year. For child care expenses, you'll definitely need to enter those manually. Look for the Child and Dependent Care Credit section. You'll need the provider's tax ID number and the total you paid for each child. This credit can be worth up to $1,200 per child depending on your income, so it could significantly reduce what you owe!

This is really helpful! Does filing Form 2210 complicate your return though? I've always been nervous about filing anything that might increase audit risk.

Thanks for the suggestion. How long does it typically take to get help from the Taxpayer Advocate Service? Do they have the same backlog as regular IRS services?

The Taxpayer Advocate Service does have some backlog, but generally they can get to you within 1-2 weeks which is much faster than waiting for regular IRS correspondence. They prioritize cases with imminent deadlines, so if you explain you're trying to file before the deadline, they often expedite. When you contact them, be very clear that you've attempted all normal channels for obtaining your IP PIN with no success. They can often issue temporary PINs or provide alternative filing guidance.

Yes! This happened to my cousin. She filed paper without her IP PIN (after identity theft) and it took 14 months to resolve the issues it created. They froze her refund and she had to go through a whole identity verification process in person.

Yeah this happened to me too! I got the letter almost 3 weeks ago but still no payment. I ended up checking the Get My Payment tool and it showed my payment was scheduled for direct deposit on 3/19 but my bank has no record of it. Called my bank and they suggested I contact the IRS because they have no pending deposits for me.

Thanks for letting me know I'm not alone! I checked the Get My Payment tool again today and now it's showing they mailed a check on 3/21 even though I have direct deposit set up for my tax refunds. So weird and frustrating! I guess I'll just keep checking my mail. Hopefully it shows up soon - really counting on that money right now.

Economic Impact Payments are technically advance payments of a tax credit, but they aren't taxable income. You don't have to report them as income on your tax return. You will likely need to reconcile the amount on your 2025 tax return, especially if you were underpaid based on your circumstances. For example, if you had a child in 2025 that wasn't accounted for in your stimulus payment.