Check if you claimed any credits or deductions. That usually triggers manual review tbh

I went through this exact same thing last year with Michigan! The "completed" but "under manual review" status is super confusing - basically it means they received and processed your return through their initial systems, but something triggered an additional human review step. In my case, it was also a credit claim (earned income credit) that flagged it. Took about 4-5 weeks total from the date I first saw that message. The waiting is honestly the worst part because there's literally nothing you can do except wait for them to either mail you requesting more info or approve it. One thing that helped me was checking the status every Friday - I noticed they tend to update things toward the end of the week. But definitely don't check daily, it'll just drive you crazy! The system rarely changes during the week. Michigan is notoriously slow with manual reviews compared to other states, but they do eventually get through them. Just try to be patient even though I know it's frustrating when you're expecting that refund!

One important thing nobody's mentioned yet - make sure you keep VERY detailed records of all your recharacterizations and conversions. I got audited last year specifically on IRA transactions, and without my documentation showing the exact dates and amounts, it would have been a nightmare. For the original poster, make sure you document: 1. Your original $6,900 Roth contribution date 2. The recharacterization date and total amount ($12.7K) 3. Your new Traditional contribution ($7,500) 4. The conversion back to Roth This paper trail will be crucial if questions ever come up years later.

Something to be aware of - the recharacterization makes it look like you never contributed to the Roth in the first place, but your 2024 conversion of $7,500 from Traditional to Roth IS reportable on your 2024 taxes. You'll get another 1099-R for that. And don't forget about Form 8606 for the Traditional IRA contribution. It's super confusing but critical to track the non-deductible contributions if you're over the income limit!

in the same boat rn... verified 3 weeks ago still waiting. this whole process is a joke fr fr 🤡

Good luck tomorrow! I just went through this last week. Definitely bring passport or driver's license, Social Security card, and all your tax docs (W-2s, 1099s, etc). Also bring a recent utility bill or bank statement for address verification - they asked me for that too. The whole appointment took about 30 minutes and they were actually pretty nice about it. Just be patient with the timeline after - mine took about 7 weeks but worth the wait!

Watch ur bank account like a hawk. Mine hit exactly 5 days after processing date

The IRS transcript can definitely be confusing at first glance! Just to add some context to what others have said - that $2,259 credit (Code 766) might be the Child Tax Credit or Additional Child Tax Credit since you filed HOH with 3 exemptions. The combination of your EIC ($6,164) plus that additional credit ($2,259) minus your self-employment tax ($2,543) gives you that sweet $5,880 refund. Since your processing date was March 27th and credits posted April 15th, your refund should have been issued shortly after. Have you received it yet or are you still waiting?

My accountant charges me $275/hr and I've spent over $800 just trying to understand this exact issue lol. One tip that helped me: create a spreadsheet comparing your gross receipts (line 1a) all the way down to ordinary business income (line 21) for the last few years. I did this and finally could see exactly which expenses were causing the biggest differences between total income and ordinary business income. Gave me a much clearer picture of my business finances and helped me explain it to my partners.

As someone who went through this same confusion when I first started my S Corp, let me add another perspective. The key thing to remember is that the 1120-S is really just an informational return - the actual taxation happens on your personal return through the K-1. Here's what helped me understand it: Think of "total income" as everything your business brought in the door, while "ordinary business income" is what's left after you pay for the cost of running the business. The ordinary business income is what actually matters for your taxes because that's what flows through to your Schedule K-1. For the "how much does your business make" question, I've learned to be specific: "We did $X in revenue last year with $Y in profit." This way you're not misleading anyone, and it shows you understand your financials. Banks especially appreciate when you can speak to both numbers clearly. One more tip: Keep a simple one-page summary that shows both figures with a brief explanation of the major expense categories that bridge the gap. It's been super helpful when I need to explain my business performance quickly to lenders, partners, or even family members who ask how the business is doing.