Quick tip - make sure to save ALL documentation related to both payments and the amended return. If something goes wrong with the automatic refund, you'll need proof of both payments. I take screenshots of the payment confirmation pages, save the confirmation emails, and keep PDF copies of bank statements showing the withdrawals. I learned this the hard way when I had to prove a duplicate payment from 2022 and the IRS had no record of one of them!

This exact scenario happened to me with TurboTax last year! The frustrating part is that some tax software companies aren't always clear about when they will or won't automatically process payments for amendments. One thing that helped me was setting up an online account with the IRS (if you haven't already) so you can view your payment history and account transcripts. This way you can actually see both payments posted and track when the duplicate gets flagged for refund. It's reassuring to see the paper trail yourself rather than just relying on what phone agents tell you. The 2-week timeline the IRS agent gave you sounds about right based on my experience. My refund came as a paper check about 16 days after I spoke with them, even though my original payments were electronic. Just wanted to give you some hope that it really does get resolved automatically once they identify it in their system!

Don't stress too much about perfect documentation here. I've been through this exact situation. Just estimate your income as accurately as possible on that substitute W-2 form. If you worked regular hours, it should be pretty easy to calculate (hours per week × hourly rate × weeks worked). Save any evidence you have (text messages about shifts, bank deposits, etc.) just in case, but in my experience, the IRS didn't question anything when I submitted my substitute form.

I went through something very similar when a small restaurant I worked at suddenly closed without giving anyone their W-2s. Here's what I learned from that experience: The Social Security Administration check is definitely your first step - if nothing shows up there, you know for certain they never reported your wages. Then Form 4852 is your best friend. Don't overthink the income estimation - just be as accurate as you can with the information you have. One thing I wish someone had told me earlier: keep detailed records of everything you're doing to resolve this situation. Write down when you tried to contact the employer, what steps you took to get your W-2, etc. The IRS really appreciates seeing that you made good faith efforts to get proper documentation before filing the substitute form. Also, don't forget that you'll probably owe both federal and state income taxes on this unreported income, plus potentially some penalties for underpayment since nothing was withheld. It's worth setting aside some money now so you're not caught off guard when you file. The important thing is that you're taking care of it properly rather than trying to hide it.

Has anyone else run into issues with their premium tax credit calculation changing mid-year? I set up my S-corp reimbursement based on my initial APTC amount, but then my estimated income changed, and suddenly I'm getting a different credit amount. Do I need to adjust my reimbursements retroactively?

This is exactly the kind of complex situation where getting professional guidance is crucial. I went through something similar last year with my S-Corp and learned the hard way that the timing of when you report income versus when you receive reimbursements can really matter. One thing I'd add to the great advice already given - make sure you're coordinating with your accountant on the timing of any income adjustments that might affect your APTC eligibility. If your S-Corp income fluctuates significantly during the year (which is common), it can impact both your premium tax credit amount and how much you should be getting reimbursed. Also, keep detailed monthly records of exactly what you paid out-of-pocket versus what the APTC covered. This documentation becomes really important at tax time when you're reconciling everything on Form 8962. The IRS wants to see that there's no double-dipping between the business deduction and the personal tax credit. Have you considered doing a mid-year projection with your accountant to see which approach (taking APTC monthly vs. claiming it all at tax time) would work better for your specific income situation?

I went through this exact same nightmare last year with my consulting firm! The fiscal year deadline confusion is so common because everything online defaults to talking about calendar year corporations. What really helped me was creating a simple spreadsheet tracking all my corporate deadlines based on my June 30 fiscal year end. Here's what I learned the hard way: - Form 1120 due September 15 (not April 15!) - Estimated payments due Oct 15, Dec 15, Mar 15, Jun 15 - Form 7004 extension (if needed) must be filed by September 15, extends deadline to March 15 - State corporate returns often have different deadlines than federal The penalty structure is brutal if you're late - failure to file is 5% per month up to 25% of unpaid taxes, while failure to pay is only 0.5% per month. So definitely file ASAP even if you can't pay the full amount right away. For your situation, I'd recommend filing immediately and including a reasonable cause letter explaining the deadline confusion. The IRS is actually pretty understanding about fiscal year deadline mix-ups for newer corporations. You might also qualify for first-time penalty abatement if you have a clean compliance history. Good luck - you're not alone in this confusion!

I feel your pain on this fiscal year deadline confusion! I went through the exact same thing with my small manufacturing business a couple years ago. The September 15th deadline for June 30 fiscal year corporations is one of those weird exceptions that catches so many people off guard. Since you're already past the September 15, 2024 deadline for your first year, here's what I'd recommend based on my experience: 1. File immediately - don't wait another day. The failure-to-file penalty is 5% of unpaid tax per month and stops growing once you file, even if you still owe money. 2. Include a reasonable cause letter with your return explaining the confusion about fiscal year deadlines. I did this and the IRS accepted it as reasonable cause for a first-time filer. 3. Look into First-Time Penalty Abatement if you have a clean compliance history. You can request this after filing by calling the IRS or including a letter with your return. 4. For next year, set up proper reminders for your September 15 deadline, and consider filing Form 7004 for an automatic extension to March 15 if you need more time. The good news is that this type of deadline confusion is actually pretty common for new corporations with fiscal years, and the IRS recognizes it as reasonable cause. Don't let the stress paralyze you - just get that return filed ASAP and deal with any penalties after the fact. You've got options to reduce or eliminate them.

This is such a common and stressful situation! I went through something similar with my LLC (elected S-Corp treatment) about 8 months ago. Got a $2,400 refund check with absolutely no explanation. After going through the nightmare of trying to reach the IRS by phone (seriously, their hold times are insane), I finally got through and learned it was from an overpayment of employment taxes from when we had a payroll adjustment earlier that year. The payroll company had corrected an error but apparently over-corrected, leading to the refund. My biggest piece of advice: DO NOT deposit that check until you understand why it was issued. I know it's tempting, especially if it's a decent amount, but the potential penalties for "knowingly" depositing an erroneous refund can be brutal. The IRS considers it your responsibility to verify unexpected refunds before cashing them. A few things your friend should do immediately: 1. Check if he received any IRS notices in the past 6 months that he might have missed or forgotten about 2. Contact his payroll service to see if they made any corrections or adjustments recently 3. Review his business bank statements for any unusual transactions that might have triggered an IRS adjustment 4. Look at his quarterly 941 forms to see if there were any overpayments The peace of mind of knowing WHY you got the refund is worth way more than the stress of potentially dealing with IRS penalties later. Trust me on this one!

As someone who's dealt with unexpected IRS refunds for my business, I can't stress enough how important it is to get proper documentation before depositing that check. The IRS has been incredibly slow processing COVID-related business credits and payroll tax adjustments, so refunds are still trickling out years later. Here's what I'd recommend your friend do immediately: 1. **Call the IRS Business Line** - I know everyone says it's impossible to get through, but try calling right when they open (7 AM local time) for better odds. Have the EIN, refund amount, and check number ready. 2. **Check for Form 941 overpayments** - This is super common. If his payroll service made any corrections or if estimated payments were higher than actual liability, that could explain the refund. 3. **Review any COVID-related filings** - Employee Retention Credits, PPP loan forgiveness applications, or any amendments filed in the past few years could result in delayed refunds. 4. **Don't deposit until you have answers** - I know it's tempting, but the potential penalties for cashing an erroneous refund can be substantial. The IRS considers it your responsibility to verify unexpected payments before depositing them. If he absolutely can't reach the IRS directly, consider having a tax professional make the inquiry on his behalf. They often have better luck getting through and can properly document the investigation for his records. Better safe than sorry with the IRS!