This is such a common source of confusion! I went through the exact same panic when I received my 5498-SA form in late April last year. The empty Box 5 had me convinced something was wrong with my account. What really helped me understand was realizing that the 5498-SA is essentially a "receipt" that the IRS requires your HSA provider to send, confirming the contributions you made during the tax year. Since you've already filed and claimed your HSA deductions, this form is just documentation that backs up what you already reported. The timing makes sense once you know that HSA providers get an extra month and a half (until May 31st) to send these forms compared to other tax documents. It's designed this way because the IRS knows people need to file their taxes before receiving this particular form. Just double-check that the contribution amounts in Boxes 1-3 match what you claimed on your tax return. If they do, you're all set and can file the form away for your records!

I work at a tax resolution firm and see this exact scenario all the time during tax season! The 5498-SA form arriving after you've filed is actually built into the system by design. The IRS gives HSA administrators until May 31st to issue these forms specifically because they know taxpayers need to file their returns earlier. A few key points that might help ease your mind: - The 5498-SA is purely informational - you never attach it to your tax return - An empty Box 5 is extremely common on initial forms and has zero impact on your taxes - The form serves as a "backup" to verify the HSA contributions you already claimed - Multiple versions throughout the year are normal as administrators update account values The only time you'd need to amend is if the contribution amounts in Boxes 1-3 don't match what you deducted on your return. Since you mentioned you already claimed your HSA contributions when filing, just compare those amounts when you get a chance. If they match, you're completely done with this - just keep the form for your records. This confusion happens to probably 30% of our HSA clients every year, so you're definitely not alone in wondering about this!

dont get too caught up in the exact dollar amount you leave in the business. focus more on your overall profit for the year which is what actually gets taxed. i usually keep around 1 month of expenses in my s-corp account just to be safe.

Great question! I was in the exact same situation last year with my S-Corp. The $1,500 you're planning to leave in the business account is smart for covering those ongoing expenses, but as others have mentioned, it won't create any additional tax burden. One thing I learned the hard way - make sure you're also considering any quarterly estimated tax payments you might need to make early next year. Since S-Corp profits flow through to your personal return, you might owe estimated taxes on that income. I ended up having to transfer money back into the business account in January to cover some unexpected expenses, which was a pain. Also, if you haven't already, it's worth double-checking that you've documented everything properly for your basis calculation. The IRS can be pretty particular about S-Corp distributions exceeding basis, so good record-keeping is essential.

I just went through this exact situation about 3 months ago! Had expired stimulus checks for my family totaling around $6,800 from when we were living overseas during the pandemic. I was really stressed thinking the money was gone forever, but this thread actually inspired me to take action. I followed the advice here about calling the IRS Economic Impact Payment line (800-919-9835) early in the morning. Called at 7:05 AM on a Thursday and got through after about 20 minutes on hold. The agent was super understanding about the overseas situation - she said they see this all the time and it's completely normal. Had all my family's SSNs and the expired check numbers ready like people recommended here, which made the verification process really smooth. She was able to confirm in their system that none of our checks had been deposited and started payment traces for all of them during that same call. The replacement checks arrived 6 weeks later as regular Treasury checks, and we got every penny we were originally entitled to. Nothing was reduced or lost due to the delay. @Kai Rivera - definitely pursue this! Your $8,400 is absolutely still recoverable. The IRS completely understands overseas situations during the pandemic, and based on all the success stories in this thread, you should have no problem getting your money back. The key is just being persistent with the phone calls and having your documentation ready. Don't give up!

I'm dealing with almost the exact same situation! I was living in Canada during the pandemic for work and received stimulus checks that I couldn't cash through my Canadian bank. When I moved back to the US last month, I found all three expired checks in my paperwork - about $4,200 total. Reading through everyone's experiences here has been incredibly helpful and reassuring. It sounds like the IRS is very familiar with overseas situations during the pandemic and has solid processes in place for this. I'm definitely going to try the early morning phone call strategy that seems to work consistently for people. One question for those who've been through this - did anyone have issues with checks that were folded or slightly damaged from being stored for so long? My checks have some creases from being in files, and I'm wondering if that affects the process at all or if the IRS only needs the check numbers for verification. @Kai Rivera - I really hope you were able to get your $8,400 resolved! Your situation is so similar to what many of us have faced. Thanks for starting this thread - it's been invaluable for understanding the process and knowing that we're not alone in dealing with expired stimulus checks from overseas situations.

One important detail I haven't seen mentioned yet - make sure you get a detailed invoice from your audiologist that clearly breaks down what you're paying for. The IRS likes to see itemized receipts for expensive medical equipment like hearing aids. Your invoice should show the cost of the actual devices, any professional fitting fees, and separate out any non-medical costs (like extended warranties that go beyond basic coverage). I've seen people get questioned on large medical deductions because their receipts weren't detailed enough. Also, regarding the return scenario - keep copies of everything if you do return them. You'll want the original purchase receipt, the return receipt showing the refund amount, and any correspondence about the return. This documentation will make filing the amended return much smoother if you need to go that route. Given the 6-month trial period, I'd personally lean toward the suggestion of waiting to file your return until after you know for sure whether you're keeping them. The peace of mind of not having to deal with amendments might be worth getting your refund a few months later, especially for such a large deduction.

This is such a helpful thread! I'm actually going through a similar situation with my elderly father's hearing aids that we purchased in 2024. Reading through all the advice here, I think the suggestion to wait until after the trial period to file your tax return is brilliant - it completely eliminates the risk of having to deal with amended returns. For what it's worth, we ended up going with hearing aids that had a 90-day trial period instead of 6 months specifically to avoid this timing issue. It meant we could make the decision before tax season and file our return with confidence. You might want to ask your audiologist if they offer any shorter trial periods that would fit better with your tax timeline. Also wanted to second the advice about HSA/FSA accounts if you have access to them. We used my father's HSA funds for his hearing aids and it was so much simpler than trying to navigate the itemized deduction rules. The tax savings were immediate and we didn't have to worry about hitting any AGI thresholds. Good luck with your decision - hearing aids can really make such a difference in quality of life, and it sounds like you're being very thoughtful about the financial planning aspect!

Has anyone considered using the new 1023-EZ form? It's way shorter than the regular application and only costs $275 instead of $600.

Just went through this exact process with our university's robotics club last year! A few practical tips that might help: 1. **Start with your student activities office** - They often have templates and can fast-track the state incorporation process. Ours had a relationship with the Secretary of State's office that cut our waiting time in half. 2. **Consider the "substantially all" test carefully** - For 501(c)(7) social clubs, the IRS requires that substantially all (generally 85%+) of your activities be for members' pleasure/recreation. If you're doing educational outreach or community tournaments, that might push you toward 501(c)(3) instead. 3. **Document everything now** - Start keeping detailed records of your current activities, membership, and any income/expenses. The IRS will want to see your operational history. 4. **Talk to your sponsor about timing** - Many sponsors are willing to work with "application pending" status, especially if you can show them your filed paperwork. This gives you breathing room on the 3-month timeline. The whole process took us about 4 months total, but having that sponsor conversation early really helped manage expectations. Good luck with your application!