Does anyone know what happens if I just dissolve this foreign corporation without filing a final non-dormant 5471? I'm in a similar situation - keep paying to file forms for a dormant company because I'm afraid of the headache of dissolution. But it's been dormant for 8 years now - wondering if I can just let it go and stop filing.

I've been dealing with a similar situation for the past 6 years with a dormant UK subsidiary. What finally convinced me to try doing it myself was realizing that my CPA was literally just copying the same information year after year - basically charging me $750 to update dates on an identical form. For anyone hesitant about the DIY approach, I'd recommend starting by comparing your last few years of filed 5471s. If they're nearly identical (which they should be for truly dormant entities), that's a good sign the form is straightforward enough to handle yourself. One thing I learned the hard way - make sure you're crystal clear on what "dormant" actually means to the IRS. My corporation had a small bank account that earned like $12 in interest one year, and I almost filed it as dormant when technically it wasn't. The interest income, even though tiny, would have made it non-dormant for that year. Caught it just in time after doing more research. The peace of mind from understanding exactly what you're filing (rather than just trusting someone else did it right) has been worth the effort for me.

Last year I had my refund sent to my Walmart Money Card and it took an extra 4 days after the IRS said it was deposited. Turns out there was a name mismatch - my tax return had my full legal name but my card was registered with my nickname. Worth checking if there could be any similar verification issues with yours. The Walmart card customer service was actually more helpful than the IRS in resolving it.

I'm experiencing something similar with my Walmart Money Card - filed February 28th, approved March 5th according to WMR, but still no deposit as of today. One thing I discovered that might help is checking your card's mobile app or website directly rather than relying on text notifications. Sometimes the deposit posts without triggering alerts. Also, I called Green Dot Bank (the processor behind Walmart Money Card) and they mentioned that tax refunds sometimes get flagged for additional verification if the deposit amount is significantly different from your usual transactions. They suggested waiting 3-5 business days after the IRS shows "sent" before escalating. Have you tried logging into your Walmart Money Card account online to see if there's any pending transaction or verification message?

Question - does anyone know how this works if some of the inherited stocks were held in certificate form (paper) rather than in a brokerage account? My uncle had some old paper stock certificates that weren't held at any brokerage.

I'm dealing with a similar situation right now with my grandmother's estate. One thing I learned that might help you - if the estate has to file Form 1041 (estate income tax return), make sure you understand whether you'll get a K-1 form from the estate. In our case, some dividends were paid into the estate account after the date of death but before distribution, and the estate had to report that income. We each received a Schedule K-1 showing our share of that income, which we then had to include on our personal returns. Also, just a heads up - if any of the inherited assets are retirement accounts (401k, IRA, etc.), those have completely different rules and don't get the stepped-up basis treatment. Those distributions are typically taxable as ordinary income. Make sure to separate those from the regular brokerage account assets when you're doing your tax planning. Good luck with everything! The probate process is exhausting enough without having to worry about all these tax implications.

Has anyone else noticed how confusing the energy credits have become with all the recent changes? I spent hours trying to figure out if my new roof qualified only to find out it doesn't because it's not a "cool roof" even though it's more energy efficient than my old one!

I went through this exact same situation last year with a new basement window installation! The good news is that new window installations absolutely qualify for Form 5695 - it doesn't matter that you're adding a window rather than replacing one. What matters is that the window meets the energy efficiency requirements. A few things to keep in mind for your $4,200 Pella window: - Make sure you have the Manufacturer's Certification Statement (as mentioned above) - The credit is 30% of qualified costs, so you're looking at potentially $1,260 back - Both the window cost AND installation labor should qualify (though the window well excavation might not) I'd definitely recommend waiting for Form 5695 to be finalized rather than filing now - that's a significant credit to leave on the table! The form usually comes out in late January/early February, so you shouldn't have to wait too much longer. One tip: keep all your receipts and documentation organized. The IRS may ask for proof that your window meets the efficiency standards, so having everything ready will make the process smoother when you do file.

Has anyone used the loss harvesting strategy with annuities? My buddy claims he was able to somehow use an annuity loss to offset some gains, but I think he's confusing it with regular investment accounts.

I'm really sorry to hear about your $5K loss - that's incredibly frustrating, especially after contributing faithfully for 14 years. Unfortunately, the other commenters are correct that annuity surrender losses aren't deductible under current tax law. One thing I'd suggest is requesting a detailed breakdown of all the fees and charges from your insurance company if you haven't already. While it won't help with deductions, it's good to understand exactly where your money went (surrender charges, administrative fees, management costs, etc.) for future reference. Also, since you mentioned this was supposed to be a long-term investment, you might want to consider putting that $23K you received into a more transparent investment vehicle going forward - maybe a low-cost index fund in a taxable account or maximizing your 401k/IRA contributions if you haven't already. At least with those, any future losses could potentially be used for tax-loss harvesting. It's a tough lesson learned, but you're definitely not alone in this situation. The insurance/annuity industry has unfortunately complicated fee structures that aren't always clearly explained upfront.