For e-filing Form 1120, I'd recommend FreeTaxUSA Business - they support C-corp filing and are significantly cheaper than most alternatives (around $150-200 vs $600+ for Drake). The interface is pretty intuitive and they have good QuickBooks import functionality. Regarding your shareholder payment situation, you definitely need to get this sorted before filing. Since C-corp shareholders who work in the business are considered employees, those "distributions" should have been processed as payroll with proper withholding. You'll likely need to file corrected payroll returns (941-X) and pay the missed payroll taxes plus penalties. One suggestion - consider consulting with an EA (Enrolled Agent) for just this first year to make sure you get the employment tax issues resolved properly. They're less expensive than CPAs but can represent you before the IRS if needed. Once you get the compliance issues sorted, you can handle future years yourself with the software.

Yes, FreeTaxUSA Business handles the complete e-filing process for Form 1120 - it's not just form preparation. They submit directly to the IRS and you get confirmation when it's accepted. I used them for our C-corp last year and the whole process was smooth. Definitely agree on getting an EA involved for the payroll tax cleanup. We had a similar situation with informal payments to founders, and our EA helped us file the 941-X forms and minimize penalties. The IRS was actually pretty reasonable about it since we were proactive in fixing the issue rather than waiting for them to discover it. One tip - when you do find an EA, make sure they have experience with startup employment tax issues. Some are more focused on individual returns and might not be as familiar with the nuances of C-corp shareholder-employee situations. The right EA can also help you set up proper payroll processes going forward so you don't repeat the same mistakes.

Just wanted to mention another option - you might be able to get your W2 information online directly from the IRS. They have a "Get Transcript" service on irs.gov where you can see tax documents that have been filed under your SSN. If your employer actually filed your W2 with the IRS but just didn't send you a copy, your wage information might be there. It doesn't always have current year info this early, but worth checking! Saved me in a similar situation last year.

This is such a frustrating situation, but you definitely have rights here! Your employer is legally required to provide your W-2 by January 31st, so they're already in violation. Here's what I'd recommend doing in order: 1. **Send a certified letter** - Mail a formal written request for your W-2 to your former employer. Keep the receipt as proof you made the request. 2. **Contact the IRS** - Call 1-800-829-1040 and report that your employer hasn't provided your W-2. The IRS will contact them directly, and employers can face penalties starting at $50 per missing W-2. 3. **File Form 4852** - This is a substitute W-2 that lets you file your taxes using your best estimate of wages and withholdings. Your final paystub from 2024 should have year-to-date totals that will help you complete this accurately. 4. **File your taxes** - Don't let their negligence delay your refund! You can file with Form 4852 and if/when you eventually get the actual W-2, you can file an amended return if needed. The manager's behavior when you went in person is completely unprofessional. Document everything - dates you called, your visit, etc. This creates a paper trail showing you made reasonable efforts to obtain your W-2 before taking other steps.

I'm dealing with this exact same issue! Just got my January bonus and they withheld 43% which was way higher than my December bonus at 28%. It's so frustrating when you're trying to plan your finances and you never know what you're actually going to take home. Reading through all these responses has been super helpful - I had no idea there were different withholding methods or that the timing of when bonuses are paid could affect the withholding rate. I'm definitely going to start tracking my bonuses like Jamal suggested to see if I can spot a pattern. One question for the tax professionals here - if I'm consistently getting over-withheld on my bigger bonuses, is it better to adjust my W-4 to withhold less from regular paychecks, or should I just accept the larger refund at tax time? I know the conventional wisdom is that getting a big refund means you gave the government an interest-free loan, but I'm also worried about accidentally under-withholding and owing money in April.

I've been following this thread with great interest since I'm dealing with a similar situation! As someone who works in payroll (though not tax advice), I can confirm what others have said about the two main withholding methods. One thing I haven't seen mentioned yet is that some companies also factor in your year-to-date earnings when deciding which method to use. If you're getting close to higher tax brackets based on your cumulative income, they might automatically switch to the aggregate method to avoid under-withholding. Also, just a heads up - if you do decide to adjust your W-4 to account for the over-withholding, make sure to update it again at the beginning of next year. I see people forget to do this and then end up under-withholding the following year when their income situation changes. The tracking spreadsheet idea is gold - I always recommend this to employees who ask about their bonus withholding. Once you have 3-4 data points, the pattern usually becomes pretty clear!

I've been following this thread as someone who handles tax document issues professionally, and wanted to add a few key points that haven't been fully covered: First, regarding the IRS telling you they can't provide W2G info until May - that's actually incorrect. The IRS can provide wage and income transcripts (which include gambling winnings) much earlier than May. You can request them online through your IRS account at irs.gov, by phone, or by mail using Form 4506-T. The transcript will show what MGM reported to the IRS for your gambling winnings. Second, if you're going to estimate and file, I'd strongly recommend using your bank records or credit card statements to help nail down the exact amount. Look for the deposit or cash withdrawal from that day at MGM - this can help you get much closer to the actual figure than just relying on memory. Finally, while the certified letter approach is excellent, you might also want to file a complaint with the Nevada Gaming Control Board simultaneously. Casinos are required to maintain copies of all tax documents for several years and provide duplicates promptly. MGM's lack of response could be a regulatory violation, and gaming boards typically respond quickly to these complaints. Don't stress too much about this - it's more common than you think, and the IRS is generally reasonable when taxpayers make good faith efforts to comply with proper documentation.

I'm a tax professional and wanted to add one more option that might help with your MGM situation. You can actually contact the IRS Practitioner Priority Service (PPS) line if you're working with a tax professional, or use the regular taxpayer assistance line to request what's called a "wage and income transcript" for 2023. This transcript will show exactly what MGM reported to the IRS for your gambling winnings, including the precise dollar amount and date. It's much faster than waiting until May, and you can usually get it within a few business days if you request it online through your IRS account. Even if you end up filing with an estimated amount, having the IRS transcript gives you the actual reported figure to compare against your estimate. If there's a discrepancy, you'll know exactly how much to adjust when you file an amended return. Also, I'd recommend documenting EVERYTHING in a simple spreadsheet - dates of calls to MGM, email confirmations, your online account screenshots showing empty tax documents section, etc. This creates a bulletproof paper trail showing you made every reasonable effort to get the proper documentation before estimating. The combination of the IRS transcript request, certified letter to MGM corporate, and gaming board complaint should definitely get you results. You're handling this exactly right by being proactive rather than just hoping MGM eventually responds.

I just went through this exact same process last month! The confusion is totally understandable because the rules aren't super clear until you dig into the specifics. Here's what I learned: since you're going from sole prop to LLC, you need to figure out how your LLC will be taxed. If you're staying as a single-member LLC and NOT electing corporate taxation, you can actually keep using your existing sole prop EIN. The IRS treats single-member LLCs as "disregarded entities" by default, which means for tax purposes, you're still essentially a sole proprietorship. However, if you're adding partners (making it multi-member) or electing S-Corp or C-Corp taxation, then yes, you need a new EIN. The good news is there's no formal process to "cancel" your old EIN if you do need a new one - you just stop using it and start using the new one. I'd recommend calling the IRS Business Tax Line to confirm your specific situation, though fair warning - it can take a while to get through! Also, make sure to update your EIN with your bank, any business accounts, and vendors once you figure out what you need to do. That was the part I almost forgot!

This is such a common source of confusion! I went through the same thing when I converted my consulting business from sole prop to LLC last year. The deciding factor really comes down to your tax election. Since you mentioned you're doing this for liability protection (smart move!), you're probably planning to stay as a single-member LLC with disregarded entity status - which means you can absolutely keep your existing EIN. One thing I wish someone had told me earlier: even though you can keep the same EIN, make sure to update your business name with your bank and any vendors to reflect the LLC. I kept getting confused looks when my checks said "ABC Consulting LLC" but my EIN paperwork still showed my personal name from the sole prop days. Also, definitely keep good records of when you made the transition. I created a simple folder with my LLC formation date, operating agreement, and a note about continuing to use my sole prop EIN. Makes things much cleaner if the IRS ever has questions down the road. The liability protection alone makes the LLC worth it - you're making a smart business decision even if the tax side stays exactly the same!