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ya irs is a mess right now honestly. i filed on paper (big mistake) in march and am still waiting. at least you efiled so youll probably get urs before me π
I'm in a similar boat - filed February 5th and still waiting! The frustration is real. What's helped me understand what's going on is checking my tax transcript regularly. You can access it through the IRS website if you can get through their identity verification process. The transcript shows specific codes that explain why your refund might be delayed. For example, code 570 means there's a hold on your refund, and code 971 usually means they're sending you a notice requesting additional information. Also, if you claimed any credits like the Earned Income Credit, Child Tax Credit, or education credits, those automatically trigger additional review which can add months to processing time. The IRS has to manually verify these credits. Keep checking your transcript weekly and don't give up! Some people are getting refunds after 4-5 months with no explanation for the delay. The system is definitely overwhelmed right now.
I've been running a UAE LLC for trading US stocks for about 2 years now. Here's my practical experience: 1) Yes, Interactive Brokers accepts UAE LLCs with the right documentation. They required our company formation documents, trade license, passport copies of all shareholders, and bank reference letters. 2) Substance requirements are real. We maintain a small office in Dubai (about $1200/month), have a corporate bank account with ENBD, and I spend about 90 days per year there managing operations. 3) For moving money, we use a combination of salary and dividends. The company pays me a reasonable "director's salary" for my management activities, which I report in my home country. The rest stays in the company for reinvestment. 4) The annual compliance costs include company renewal fees (~$7000), accounting services (~$2500), and maintaining the office. Factor these into your calculations. It's definitely not a zero-effort solution, but the tax savings have been substantial enough to justify the setup costs and ongoing maintenance.
Do you find it's worth all the hassle? Like with all those costs and having to spend 3 months in Dubai every year, do the tax savings really work out that much better than just paying your home country's taxes?
For me, it's been absolutely worth it. I'm trading high volumes (multiple millions annually), so even the difference between a 9% UAE corporate tax rate versus my home country's 28% rate represents significant savings - we're talking six figures annually. The time in Dubai has actually become something I enjoy. I've developed business relationships there, and I now use it as a base for exploring the region. I usually do 3-4 trips of 3-4 weeks each throughout the year. The key is whether your trading volume justifies the fixed costs. If you're only trading a few hundred thousand, the setup costs might outweigh the benefits. But if you're doing serious volume, the math works out strongly in favor of the UAE structure.
Has anyone actually looked into how Argentina specifically treats foreign LLCs? I know some countries have rules where if you're the controlling member of a foreign entity, they look through the entity and tax you directly regardless of whether you take distributions.
Argentina has pretty strict CFC (Controlled Foreign Corporation) rules that were updated in 2018. If you own more than 50% of a foreign company and that company is in a "low-tax jurisdiction" (which UAE would likely qualify as), Argentina can attribute the income directly to you regardless of whether distributions are made.
This happened to me last year and the year before. In 2022, my federal came 9 days before state. In 2023, it was 16 days. This year my federal arrived February 18th and state didn't show up until March 12th. It's becoming the new normal with state systems being slower than federal. As long as your state shows "Processing" and not "Review" or "Verification Required," you should be fine.
I'm experiencing something similar this year! Filed on February 3rd and got my federal refund last week, but my state is still showing "Processing" after 34 days. In previous years, my state (Virginia) was always 5-7 days faster than federal. I called the Virginia Department of Taxation yesterday and they said they're running about 2-3 weeks behind their normal processing schedule due to system upgrades they implemented in January. The representative assured me that as long as it shows "Processing" rather than "Under Review," it's just in the queue and should be released soon. Maybe your state is dealing with similar backend changes this tax season?
Protip: Document EVERYTHING. Every call, rep name, what they told you. Makes it easier when escalating.
Ugh, this is so frustrating! I went through something similar last year - my amended return got "lost" in their system twice. The 3176C letter thing is real but the timeline they're giving you sounds way too long. I'd definitely escalate to a supervisor and ask for a case manager to be assigned. Also, keep calling every week - squeaky wheel gets the grease with the IRS. Don't let them push you around for another 8+ weeks when they already messed up! You've been more than patient.
Nia Williams
Has anyone had success using the IRS online account to resolve these kinds of issues? I'm in a similar situation with duplicate notices but really don't want to call or mail anything if I can avoid it.
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Luca Ricci
β’I tried using my IRS online account for a similar issue last year. It shows your notices but doesn't really have a way to resolve conflicts between them. Ended up having to call anyway.
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Nia Williams
β’Thanks for sharing your experience. That's disappointing but good to know before I waste time trying to fix it online. Looks like I'll have to bite the bullet and call them after all.
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Melody Miles
I've been through this exact same nightmare! Got stuck in the IRS notice loop for almost 6 months. Here's what finally worked for me: Don't ignore the duplicate notices - they can actually restart collection actions even if your case was previously closed. I made that mistake and ended up with a lien threat. Call the Practitioner Priority Service line at 866-860-4259 if you have a tax professional, or use the regular taxpayer line but ask to speak with someone in the "Correspondence Examination" department specifically. Tell them you have conflicting notices and need them to consolidate your case file. When you call, have these ready: - Your CP2005 closure notice - The most recent CP2501 - All your fax confirmation receipts - The weird form 202112 you mentioned Ask them to put a "case consolidation hold" on your account while they sort it out. This prevents any automated notices from going out while a human reviews your file. I also recommend requesting a "manual case review" - this forces an actual person to look at your timeline instead of letting the computer keep spitting out notices. The rep should be able to see all your submissions and confirm everything was properly processed. The whole thing took about 30 minutes on the phone once I got through to the right department. Haven't gotten a duplicate notice since!
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