Has anyone tried just using the SS-4 form (Application for Employer Identification Number) and checking the "Other" box for "changed type of organization" to update your business information with the IRS? I've heard mixed things about whether this works for adding a DBA to an existing EIN.

I've been dealing with this exact issue for months and wanted to share what finally worked for me. After trying various documentation approaches, I found that creating a comprehensive "Business Entity Declaration Package" was the key. Here's what I included: 1) Original EIN assignment letter from IRS, 2) County DBA certificate, 3) A formal business letter on letterhead stating both names operate under the same EIN, 4) Copy of my business license showing both names (if applicable), and 5) Bank documentation showing both business names are linked to the same account. The game-changer was getting this package reviewed by a tax professional who helped me word the declaration letter using specific IRS terminology. Once I had that professional validation, even my most difficult clients accepted it without question. One tip: if your client is still hesitant, offer to provide them with the tax professional's contact information as a reference. That extra layer of credibility often seals the deal.

Don't forget that if your net profit from CashApp business income is $400 or more, you also have to pay self-employment tax (15.3%) on top of regular income tax! This shocked me last year and I wasn't prepared for the extra tax bill.

Just to add to all the great advice here - make sure you understand the difference between personal transfers and business income on CashApp! The IRS only cares about payments you received for goods or services, not when friends pay you back for dinner or split bills. If some of that $6,800 includes personal transfers (like roommates paying rent, friends paying you back, family sending money), you don't need to report those as income. Only the actual business payments count. CashApp's 1099-K might include everything over $600, but you're only taxed on the business portion. Keep good records showing which payments were personal vs business - screenshots of the transaction descriptions can be helpful if you ever get audited. This distinction could save you hundreds in taxes!

Have you checked if you're looking at the right tax year? The dropdown defaults to 2023 right now. You need to specifically select 2024. Also, are you checking for the Return Transcript or Account Transcript? Account Transcripts update first and show processing status codes.

I completely understand the stress you're going through! As a fellow military spouse who's dealt with deployment paperwork nightmares, the 9-day wait is totally normal. The IRS transcript system is notoriously slow - acceptance just means they received your return, not that it's been processed yet. Here's what I've learned from multiple PCS seasons: check your Account Transcript first (it updates before Return Transcript), make sure you're selecting 2024 in the dropdown, and don't check more than once daily to avoid getting locked out. Military returns with any special circumstances like combat pay exclusions or foreign income can take 2-4 weeks to show up. The waiting is brutal when you're managing everything solo during deployment, but your return is almost certainly fine. Focus on getting your other PCS documents in order - the transcript will appear when it's ready! Hang in there! 💪

The most confusing part of this whole 1098-T adjustment thing is that schools seem to handle them differently! My community college issued a completely new 1098-T for the prior year instead of using Box 4 & 6. But when I transferred to state university, they did exactly what you're describing. No wonder everyone gets confused!

I'm dealing with a similar situation right now! Got my 1098-T last week and those Box 4 and 6 adjustments had me completely stumped. What really helped me understand it was looking at my actual 2022 tax return to see what I originally reported for education expenses and scholarship income. Here's what I found when I dug into my paperwork: the school had initially reported higher scholarship amounts in 2022 than what I actually received (they counted some aid that got cancelled). So the Box 6 adjustment was reducing that overstated scholarship amount, which actually HELPED my tax situation for 2022. The key thing I learned is to compare the Box 4 and Box 6 amounts to see the net effect. In your case, they reduced scholarships by $1000 but only reduced expenses by $600, so your taxable scholarship income for 2022 would actually decrease by $400. That could mean you overpaid taxes that year and might be due a refund if you amend. I'd definitely recommend pulling out your 2022 return and seeing exactly what education numbers you reported before deciding whether to amend. The math might work in your favor!

One thing nobody has mentioned: make absolutely sure your Solo 401k plan DOCUMENT allows for the flexibility you're trying to use. Some plan documents specifically require deferrals to be deposited within a certain timeframe after being withheld. I learned this the hard way last year when I assumed I had until my tax filing deadline, but my specific plan document (from a major provider) required deferrals to be deposited within 30 days of the end of the month in which they were withheld. This was more restrictive than what the IRS/DOL would have allowed! Check your actual plan document before making any assumptions about deadlines.

CPA here specializing in small business retirement plans. This thread has covered most of the key points, but I want to emphasize something critical that could save you headaches down the road. The IRS distinction between "elective deferrals" and "employer contributions" is crucial for S-Corps. Your $22,500 employee deferral must be reflected as reduced wages on your 2024 W-2 (Box 1 should show $81,500 instead of $104,000 if you defer the full amount). This creates the paper trail showing the deferral happened in 2024. However, here's what many miss: if you haven't actually moved the money to your 401k account yet, you need to be very careful about cash flow and business expense timing. The IRS could potentially challenge whether you had "constructive receipt" of that income if the funds sat in your business account for months while you used them for other business expenses. My recommendation: even if your plan document allows flexibility, try to deposit the deferred funds by January 31st at the latest. This shows good faith compliance and avoids any potential constructive receipt issues. The employer profit sharing contribution can definitely wait until your tax filing deadline, but treat the employee deferrals with more urgency. Also double-check that your payroll system is properly coding the deferrals for your W-2 - Box 12 should show the $22,500 with code "D" for elective deferrals.