Another option that's worked for me - if you have a local IRS Taxpayer Assistance Center (TAC) near you, you can schedule an appointment through the IRS website. Sometimes it's faster than trying to get through on the phone, especially if your issue requires looking at documents. You'll need to bring all your tax paperwork, but at least you're guaranteed to talk to someone face-to-face. You can find locations and schedule at irs.gov/help/contact-your-local-irs-office.

If you're still having trouble getting through, try the IRS callback feature if it's available when you call. Sometimes they'll offer to call you back instead of making you wait on hold. Also, make sure you have your Social Security number, filing status, and exact refund amount ready before calling - they'll ask for these to verify your identity. One more tip: if you get disconnected, call back immediately. Sometimes you'll get put in a shorter queue if the system recognizes you were just connected.

I'm going through this exact same situation right now! My transcript shows a DDD of 2/26 and I just got my SBTPG trace number yesterday. Based on everyone's experiences here, it sounds like I should expect to wait another 1-3 business days for the actual deposit. It's frustrating how opaque this whole process is - I wish SBTPG was more transparent about their processing timeline upfront. The trace number at least gives me some peace of mind that the money is in their system, but the waiting game is stressful when you're counting on that refund. Thanks everyone for sharing your timelines - it really helps set realistic expectations!

I'm going through the exact same situation! Got my SBTPG trace number this morning with a DDD of 2/26 on my transcript. Reading through everyone's experiences here is both reassuring and frustrating - reassuring because it sounds like the trace number means we're in the home stretch, but frustrating because of how long this whole process takes. I had no idea about all these processing steps when I agreed to pay my tax prep fees from my refund. Next year I'm definitely paying upfront and getting direct deposit straight from the IRS. Based on what everyone's shared, sounds like I should expect my deposit by Friday or early next week. The waiting is killing me though - I keep refreshing my bank app even though I know it's probably not going to show up today!

I've been in a similar situation and here's what I learned: the "opt out of withholding" option can be really tempting, but it's basically just kicking the tax can down the road. You'll still owe the same amount in taxes - you're just choosing when to pay them. One strategy that worked well for me was to take the cash WITH normal withholding (that 22% federal rate), then immediately put a portion of what I received into a high-yield savings account earmarked for any additional taxes I might owe at filing time. This way I had access to most of the money for my immediate needs, but still had a safety net for tax season. The math gets really interesting when you factor in that 401k contributions also save you the 7.65% FICA taxes (as mentioned above). On your $20k bonus, that's over $1,500 in immediate savings, plus the income tax deferral. But if you truly need the cash flow now, sometimes the peace of mind is worth more than the tax optimization. Have you calculated what your actual tax rate would be on the bonus income? Depending on your current income level, it might be lower than that 22% withholding rate, which could mean a refund if you take it as cash with withholding.

One thing that might help your decision is to think about your overall financial picture this year. If you're already maxing out your 401k contributions through regular payroll deductions, then putting the bonus there might push you over the annual limit ($23,000 for 2024). But if you haven't been contributing much to your 401k, this bonus could be a great opportunity to catch up on retirement savings. Also consider your state's tax situation. Some states don't tax retirement account contributions at all, which could make the 401k option even more attractive. Others have high supplemental wage withholding rates that might make the cash option more expensive than you expect. I'd suggest running the numbers both ways before deciding. Calculate what you'd net after all taxes if you take it as cash (including setting aside money for any additional taxes owed), then compare that to what the 401k contribution would be worth to you in tax savings this year. The "right" choice really depends on your current financial priorities and tax situation.

Has anyone looked into TaxDome as a ProSystem fx Engagement alternative? We're considering it mainly for the client communication features and project management capabilities. Their pricing model is per firm rather than per user which could be a big savings for us. Curious if anyone has experience using it alongside a tax prep solution?

We went through this exact same evaluation process last year with our firm of about 400 returns. After testing several alternatives to ProSystem fx Engagement, we ended up going with a hybrid approach that's worked really well for us. We switched to Drake Tax Software for the actual tax preparation (much more affordable and surprisingly robust) and paired it with SmartVault for document management. The total cost savings was about 40% compared to our ProSystem fx setup, and honestly the Drake software is more intuitive than ProSystem ever was. The key was not trying to find one system that does everything ProSystem fx Engagement does, but rather finding specialized tools that do each function better. For workpapers and review notes, we use a combination of Excel templates and SmartVault's annotation features. It took some adjustment, but our team actually prefers the new workflow now. One tip: if you do switch, plan to start the transition in May/June so you have the full off-season to get comfortable with the new system. We did a parallel run with about 50 clients to work out the kinks before committing fully.

I've been following this discussion with great interest since I'm in a similar situation with a mixed-use property I'm preparing to sell. One thing I haven't seen mentioned yet is the importance of keeping detailed records of your actual living expenses versus business expenses during the time you occupied the property. The IRS may look at patterns like whether you deducted utilities, insurance, and maintenance costs as business expenses for the entire property, or if you properly allocated them between personal and business use. If you claimed 100% business deductions on utilities while living there, it could undermine your argument that 40% was truly residential. Also, for anyone dealing with this situation: make sure you understand the "non-qualifying use" rules. If you ever rented out the residential portion or used it for business purposes after May 6, 2008, those periods of non-qualifying use could reduce your available exclusion even if you otherwise meet the ownership and use tests. The tax implications can be substantial, so definitely worth getting professional guidance, but it's encouraging to see that others have successfully navigated similar situations with proper documentation and planning.

This is a really comprehensive discussion! As someone who works in tax preparation, I want to add one practical tip that might help with documentation: create a detailed timeline of your property use right now while the details are still fresh in your memory. Document month-by-month what percentage of the property you lived in versus used for business, any changes in the setup, when you completed major renovations, and any periods where the use might have been different (like if you temporarily used part of your living space for business during busy periods, or vice versa). Also keep records of how you filed your taxes each year - did you claim home office deductions from the residential portion? Did you properly allocate expenses? This timeline will be invaluable whether you're working with a tax professional, using a service like the ones mentioned above, or if you ever get questioned by the IRS. One more thing - don't forget that you might be able to add the cost of the residential renovations to your basis, which could reduce your overall capital gain. Keep all those receipts for kitchen, bathroom, flooring, and other improvements that were specifically for making the space livable as a residence.