Went through this exact process last filing season. Submitted my 4800C on February 8th and got my refund on March 2nd, so just over 3 weeks. The key was making sure I submitted EXACTLY what they asked for - no more, no less. I made the mistake of sending too much documentation the first time (thought I was being helpful) and they rejected it and made me resubmit. The second time I followed their instructions to the letter and it went through without issues. Hope this helps and good luck!

Just went through this process myself - submitted my 4800C on February 28th and refund hit my account yesterday (March 8th), so about 8 business days for me. I think timing might depend on how backed up they are when you submit. One thing that helped was checking my account transcript on the IRS website rather than just relying on WMR - it showed the verification hold codes and when they were cleared, which gave me a better sense of what was actually happening behind the scenes. The transcript updated about 2 days before WMR finally showed "approved" status. Hang in there - it's definitely nerve-wracking but they seem to be processing these more efficiently than in previous years.

Don't panic! Form 1462 usually means there's a discrepancy or missing information in your filing. Since you have your confirmation number, that's great evidence you did file. I'd recommend calling the IRS practitioner priority line if you can get through - sometimes it's just a processing delay on their end. Also make sure to respond within the timeframe they give you (usually 30 days) with copies of your return and that confirmation number. Keep everything organized and document all your communications with them!

I went through something similar last year! The key thing is not to panic - Form 1462 is actually pretty common and usually just means there was a processing issue on their end. Since you have your confirmation number, you're in good shape. Make sure to respond promptly with a copy of your original return, that confirmation number, and a cover letter explaining you already filed. I'd also suggest getting your account transcripts from the IRS website to see what they have on file - sometimes that gives you clues about what went wrong. The whole process took about 6-8 weeks for me to resolve, but it worked out fine in the end!

Great thread everyone! As someone who's been through this exact process, I wanted to add one more perspective that might help newcomers like Andre. The key thing to remember is that this initial complexity is a one-time setup cost. Yes, the W-9 and NR301 forms seem daunting at first, and tracking multiple transfer agents can feel overwhelming, but once you get everything properly documented, the ongoing maintenance is minimal. I'd also suggest starting a simple tax folder (physical or digital) specifically for your Canadian investments. Keep copies of all your forms, correspondence with transfer agents, and quarterly dividend statements showing the withholding amounts. This saved me hours during tax season when I needed to complete Form 1116 for the foreign tax credit. One thing I learned the hard way: if you're planning to expand your Canadian holdings over time, submit the NR301 forms for new positions as soon as you buy them, rather than waiting to see how much dividend income they'll generate. Even a small dividend payment at 25% withholding instead of 15% adds up over time. The investment in time and paperwork upfront really pays off in the long run, both in terms of proper tax treatment and peace of mind that you're handling everything correctly!

As someone who's been navigating Canadian dividend taxation for the past few years, I can definitely relate to your confusion! The good news is that once you understand the process and get the proper documentation in place, it becomes much more manageable. You're absolutely right that both the US and Canada will want to tax your Canadian dividends, but the US-Canada tax treaty helps prevent excessive double taxation. Here's what you need to know: **Forms you'll need:** - **W-9**: Submit this to Vanguard to certify you're a US person for tax purposes - **NR301**: This goes to the transfer agents of your Canadian companies to claim treaty benefits and reduce withholding from 25% to 15% **Key points:** 1. Don't wait - submit these forms as soon as you start investing in Canadian stocks, as it can take 1-3 dividend payment cycles for the reduced withholding to take effect 2. The NR301 forms go to individual transfer agents (not Vanguard), so you'll need a separate form for each Canadian company or their transfer agent 3. Keep detailed records of all Canadian taxes withheld - you'll need this for Form 1116 (Foreign Tax Credit) on your US return **Pro tip:** Start with your largest Canadian positions first to get comfortable with the process, then tackle the smaller holdings. Many companies share the same transfer agents, so it's not always one form per stock. The foreign tax credit on your US return will help offset the Canadian taxes withheld, effectively preventing true double taxation. While the initial setup takes some effort, it's definitely worth it to ensure you're not overpaying taxes on your Canadian dividend income!

Has anybody ever been audited for messing this up? My husband and I accidentally both contributed to dependent care FSAs at different jobs last year (about $4000 each) and I'm freaking out now reading this thread.

I'm a tax preparer and see this mistake ALL the time! Just to reinforce what others have said - the $5,000 dependent care FSA limit is definitely per household when you're married filing jointly, not per person. What I tell my clients is to think of it this way: the IRS doesn't care which spouse's employer plan you use or how you split it between accounts. They only care about the total household contribution not exceeding $5,000. One practical tip: if you do split contributions between both spouses' FSA accounts, make sure you coordinate your reimbursement claims carefully. You don't want to accidentally submit the same daycare receipt to both accounts for reimbursement - that would be claiming the same expense twice, which is definitely not allowed. Also, keep excellent records of all your childcare expenses throughout the year. You'll need them not just for FSA reimbursements, but also to properly calculate any additional tax credit you might be eligible for on the amounts above your FSA contributions.

This discussion has been incredibly thorough and helpful! As someone who's been lurking and learning from everyone's experiences, I wanted to add a perspective from the operational side. I went through this exact decision with my S-Corp two years ago and chose the capital contribution route based on advice similar to what's been shared here. Looking back, it was absolutely the right call. The administrative burden of tracking loan payments, interest calculations, and maintaining proper documentation would have been a nightmare for a small business trying to focus on growth. One practical tip that helped us: we created a simple spreadsheet tracking each shareholder's capital contributions by date and amount. This became invaluable when we needed to calculate basis for taking losses and when our accountant prepared our K-1s. Having that clean paper trail made tax season much smoother. Also, regarding the officer compensation question @db958ca6c97e raised - the IRS generally looks at what similar positions pay in your industry and geographic area. We used salary surveys from trade associations and looked at job postings for comparable roles. Your accountant should be able to help establish reasonable ranges, but documenting your research process is key if you're ever questioned. The peace of mind from avoiding loan documentation complexities and audit risks has been worth more than any theoretical tax savings we might have gotten from the loan structure. Sometimes the simplest approach really is the best!

This has been an absolutely fantastic discussion! As someone who's been wrestling with this exact same S-Corp decision, I can't thank everyone enough for sharing their real-world experiences and insights. After reading through all the comments, I'm convinced that capital contributions are the right approach for most startup S-Corps. The consistent theme from people who've actually been through audits, dealt with the administrative burden of loan documentation, and navigated the complexities years later is pretty clear - the simplicity and reduced risk of capital contributions usually outweigh any theoretical tax advantages of shareholder loans. What really resonates with me is @6bb6940cd7ca's point about focusing on business growth rather than administrative complexity. When you're trying to build a company, the last thing you need is to be bogged down with loan documentation, interest calculations, and audit risks that could blow up later. The practical tips shared here are gold - from the spreadsheet tracking system to the importance of documenting officer compensation decisions. It's this kind of operational insight that you just can't get from generic tax advice articles. For anyone else facing this decision, this thread is basically a masterclass in S-Corp capital structure considerations. The consensus from people with actual experience seems overwhelming: keep it simple with capital contributions, document everything properly, and focus your energy on growing the business rather than managing complex loan structures that might not even survive IRS scrutiny. Thanks again to everyone who shared their experiences - this community is incredibly valuable for navigating these business challenges!