Help with S-Corp Tax Return Filing and Personal Return with K-1

Thanks for this info! Do you know if there's any way to check online if the S Corp return was filed? The IRS phone lines are notoriously hard to get through. Also, when transferring info from the K-1 to my personal return, are there any specific boxes I should pay extra attention to? This is my first year with an S Corp.

Unfortunately, there's no online system for businesses to check filing status like individuals have with "Where's My Refund." Calling the IRS Business line is really the most reliable way to confirm. Try calling early morning when they first open - that's usually when wait times are shortest. For the K-1, pay special attention to Box 1 (ordinary business income), Box 12 (Section 199A information), and any entries in Box 17 (for additional tax items that may require separate forms). Make sure any amount in Box 1 gets reported on Schedule E of your personal return. Also, if you have amounts in Box 4 (interest income) or Box 5 (dividends), those will need to be reported on the appropriate schedules as well.

How does this taxr thing work? I'm in a similar situation but with a partnership K-1. Does it handle those too or just S Corps?

Sounds interesting but kinda hard to believe it could tell if your S-Corp return was actually filed. Wouldn't it need access to IRS records for that?

It works by analyzing the tax documents you upload - you just scan them or take photos. It handles all kinds of business forms including partnership K-1s (Form 1065 K-1). It has specific guidance for different entity types. As for checking if returns were filed, you're right it doesn't have direct access to IRS records. What it did was analyze my signed 8879-CORP and explain that based on the completed form and PIN, it was likely already filed. It then gave me the exact steps to verify with the IRS by phone. It even showed me what questions to ask and suggested calling times with shorter wait periods.

How exactly does this work? I'm skeptical anything can actually get through to the IRS faster than just calling yourself.

Isn't this just paying for something you could do yourself for free? The IRS callback feature is available to everyone, right?

It uses a combination of automated systems that dial repeatedly until they get through - something that would be painfully time-consuming to do yourself. Once they reach an agent, they transfer the call to you. It's basically outsourcing the hold time. The IRS does have a callback feature, but the problem is actually getting to the point where you're offered a callback. During busy times like now, the lines are so overloaded that you often get the "call back later" message before even reaching the callback option. This service gets you past that initial barrier. For me, it was worth it because I had already wasted hours trying to get through myself.

That's really good advice, thank you! Do you know how long Form 4506 typically takes to process? I'm concerned about having proper documentation before next year's filing.

Form 4506 usually takes about 75 days to process, so it's definitely not a quick solution. That's why I'd recommend trying the certified letter to your accountant first since that would be much faster. For next year's filing, you should be fine even without a full copy of this year's return as long as you have your K-1. However, if you plan to switch accountants, having the complete return will help the new preparer understand your business situation better.

This is super important! My accountant filed my federal S-Corp return but completely forgot about my state filing. Ended up with a $400 penalty that took months to sort out.