Thanks for the perspective! I did double-check my AGI from last year since I switched from paper filing to electronic. I actually had to dig out my old return to make sure I had the number right. Sounds like I just need to be patient for a couple more days.

Glad you verified that! Another tip is to create an account on the IRS website if you haven't already. Sometimes you can see the status of your return there before your tax software updates. The "Where's My Refund" tool won't help until your return is accepted, but having the account set up now will save you time later.

I've used both and noticed the same thing! I think TurboTax only updates their status a few times a day while some of the others check more frequently. The actual processing time at the IRS is probably the same.

6 How do I check what I put on my W-4? Do I need to ask HR for a copy? And if that's the problem, can I still fix my current tax return or is it too late?

9 You can ask your employer's HR or payroll department for a copy of your W-4 on file. They should be able to provide it or at least tell you what you selected. For your current tax return, if you've already filed it and the calculations are correct based on what was actually withheld, you can't change the outcome now. The tax bill is based on your actual income and withholding for the year. However, you can immediately submit a new W-4 to fix the problem for this year so you don't end up in the same situation next April.

2 The EITC is refundable too, so it could actually give you money back instead of just reducing what you owe! But I think there are age requirements if you don't have kids - you have to be at least 25 but under 65 to qualify without dependents.

I used H&R Block last year with about $200k in RSUs and they completely missed some important details. The preparer didn't understand that I needed to report the sales of vested RSUs as capital gains transactions with the correct cost basis. Ended up filing an amended return later with a different tax service. Would not recommend for anything beyond basic RSU situations.

That's not correct for RSUs. The 83(b) election applies to restricted stock awards (RSAs), not restricted stock units (RSUs). With standard RSUs, you can't make an 83(b) election because there's nothing to elect - you don't actually receive the shares until they vest, so there's no ownership to claim early. Some companies offer early-exercisable options or RSAs where an 83(b) makes sense, but for standard RSUs, this isn't applicable. Important distinction that could cause tax issues if misunderstood.

Thanks for mentioning this! I didn't even think about the asset list. Do you know if there's a standard format for this? And for the customer concentration report, did you just create a spreadsheet or is there a more official way to present that information?

For the asset list, I just created a simple spreadsheet with columns for: description, date acquired, original purchase price, current estimated value, and condition (excellent, good, fair, etc.). Nothing fancy, but buyers appreciated the organization. The customer concentration report was also just a spreadsheet showing my top 10 customers, what percentage of revenue each represented, how long they'd been customers, and brief notes about the relationship. My broker actually said these simple documents made a huge difference in buyer confidence because they showed I was organized and transparent.

Is there an easy way to calculate this? I've owned my S-corp for 12 years and honestly have no idea what my current basis is.

I haven't considered electing to be treated as a corporation - could you explain a bit more about when that might be advantageous for investment activities? Would the corporate tax rates be better than the withholding rates in some cases? And would I still need to file Form 5472 if I made that election?

Making an election to be treated as a corporation (Form 8832) can sometimes be advantageous because U.S. corporate tax rates might be lower than the withholding rates applied to foreign persons, especially for certain investment types. For example, while dividends are typically subject to 30% withholding (or lower with tax treaties), the corporate income tax rate is 21%. Yes, you would still need to file Form 5472 if you made the election, as it applies to 25% foreign-owned U.S. corporations. However, instead of filing a pro-forma 1120, you'd file a regular Form 1120 as an actual tax return. Another benefit is that a corporation can potentially claim deductions against income that might not be available to a foreign person receiving passive income. The downside is increased compliance requirements and potential for double taxation if you eventually distribute earnings to yourself. The optimal structure really depends on your specific situation, investment amounts, and how your country's tax treaty interacts with U.S. tax law.

I've had an account with Interactive Brokers for my foreign-owned Delaware LLC for about 3 years now. They're definitely more accommodating to international structures than many other brokerages. The documentation requirements were still extensive, but their system is set up to handle foreign ownership situations. They also have good systems for handling tax withholding based on tax treaty status.