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Bruh its wild how many ppl are waiting. My cousin filed last week and already got his but im still waiting since January lmaooo make it make sense
Been in the exact same situation since filing in January! The amended return dates you're seeing are definitely a glitch - I've seen this happen to others too. The IRS system sometimes shows wrong info when there are processing delays. I'd recommend getting your account transcript from IRS.gov (Get Transcript Online) - it'll show the actual status codes and give you a clearer picture of what's really happening with your return. The Where's My Refund tool is basically useless for complex cases like ours. Hang in there, you're not alone in this mess! πͺ
Just wondering, does anyone have experience with using services like Gusto for S corp payroll? I'm considering the switch but worried about the complexity of running payroll for just myself.
I use Gusto for my single-member S corp and it's super easy. Costs about $45/month for just me, which eats into the tax savings a bit, but saves me tons of headaches. They handle all the payroll taxes, filings, and year-end stuff automatically. I just set up my reasonable salary as a recurring payroll and barely think about it now.
I made the S corp switch at around $85K and it's been worth it, but I want to emphasize something that hasn't been mentioned much here: timing your election properly is crucial. If you're thinking about this for next year, remember that Form 2553 (S corp election) generally needs to be filed within 75 days of incorporation OR by March 15th for the tax year you want it to take effect. Miss that deadline and you're stuck waiting until the following year, which could cost you thousands in additional self-employment taxes. Also, don't forget about estimated quarterly taxes once you switch. As an S corp owner, you'll need to make estimated payments on your distributions since there's no withholding on those. I use the safe harbor rule (pay 110% of last year's tax liability) to avoid underpayment penalties, but it requires more cash flow planning than when I was just a sole proprietor. The administrative burden is real, but if you're organized and use good tools (like the Gusto suggestion above), it's manageable. Just make sure you're truly ready for the additional complexity before making the jump.
Does anyone know if the "lookback rule" applies here? I think there's some rule where you can make IRA contributions for the previous year up until the tax filing deadline, but I'm not sure if it affects how you report it on an amended return.
Yes, the "lookback rule" is exactly what allows you to make IRA contributions for 2023 up until the tax filing deadline in 2024 (April 15, 2024 for most people). Since the OP made their contribution before this deadline, they can definitely count it for 2023. For amended return purposes, you report it exactly the same way you would have on the original return - as a 2023 contribution. Just make sure your IRA provider correctly coded it as a 2023 contribution when you made it.
I went through this exact same situation two years ago and totally understand the panic! The good news is that filing an amended return for a missed IRA contribution is really straightforward and won't cause any issues with the IRS. Since you made the contribution before the April deadline for 2023, you're absolutely entitled to claim it. The IRS actually prefers when people voluntarily correct their returns - it shows good faith compliance. A few things that might help ease your anxiety: - This is considered a "taxpayer favorable" amendment since you're likely reducing your taxable income - The IRS processes thousands of these amendments every year for the same reason - You have up to 3 years to file an amended return, so there's no rush or penalty For TurboTax, just log into your account and look for "Amend a Return" - the software will walk you through it step by step. The whole process took me maybe 30 minutes once I had my IRA contribution documentation ready. You'll likely get an additional refund if the contribution was deductible, which is a nice bonus for doing the right thing!
The community wisdom on verification timelines is that 14-28 days is the typical range for direct deposit after successful verification! I'm SO EXCITED to report that the IRS seems to be processing faster this year compared to the disaster that was 2023. Most people in this sub are reporting closer to the 14-21 day range recently. Make sure you're checking both WMR and your transcripts - sometimes one updates before the other!
Just to clarify - the 14-28 day timeline is business days, not calendar days. So effectively 3-5.5 weeks depending on holidays and weekends. The IRS processing centers operate on different schedules depending on the service center handling your return.
I completed my ID verification call on March 28th and I'm also waiting for direct deposit. The agent was really thorough - asked about previous addresses, prior year AGI, and some personal details from credit reports. She mentioned the same 4-week timeframe you got. From what I've gathered reading through forums, the key things that seem to affect timeline are: 1) which processing center handles your return, 2) whether you claimed certain credits like EITC or CTC, and 3) if there are any other flags on your account. I've been checking my transcript weekly and haven't seen any movement yet, but based on what others are sharing here, it sounds like most updates happen suddenly rather than gradually. Really hoping we both see movement soon - medical expenses definitely can't wait for bureaucratic delays!
Hunter Brighton
11 One thing to watch out for with W2G forms as a non-resident - make sure the casino actually withheld the correct amount! I won $4,300 at a casino in Vegas and they only withheld 24% instead of the 30% required for non-residents. Ended up having to pay the difference plus a small penalty when I filed.
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Hunter Brighton
β’16 This happened to me too! The casino mistakenly treated me as a US resident because I had a US mailing address (I was staying with my cousin). Is there any way to get the casino to fix their mistake, or do we just have to deal with it at tax time?
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Hunter Brighton
β’11 Unfortunately once the W2G is issued, the casino rarely corrects it. They usually put the burden on you to sort it out with the IRS. The safest approach is to verify the withholding percentage when you're at the casino winning the money. If you spot an incorrect withholding rate on your W2G, you could technically make an estimated tax payment using Form 1040-ES (NR) to cover the difference and avoid penalties. But most people just handle it when filing their 1040-NR, which is what I ended up doing.
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Saleem Vaziri
Great thread! Just wanted to add that if you're working with a CPA, make sure they're familiar with Form 8833 (Treaty-Based Return Position Disclosure). Many non-residents with gambling winnings need to file this form to claim treaty benefits for reduced withholding rates. Also, keep in mind that some states have their own tax obligations for gambling winnings, even for non-residents. Nevada doesn't have state income tax, but if you won in a state like California or New York, you might need to file a non-resident state return too. Your CPA should know about these state-level requirements, but it's worth asking specifically about it during your consultation. The AICPA directory mentioned earlier is solid, but also check if your CPA has an ITIN (Individual Taxpayer Identification Number) specialization - many non-residents need ITINs for tax filing, and having a CPA who handles both the ITIN application and the tax return can streamline the process.
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