FinCEN's website states that you should receive a confirmation number immediately after submission. They've also indicated they'll send an email confirmation to the address you provided during filing. If you got the confirmation number, you should be good. I'd screenshot or save that somewhere for your records.

I did get confirmation numbers for each filing, but I was hoping there might be some kind of portal where you can log in and verify everything is properly recorded in their system. Guess I'll just hang onto those confirmation numbers as proof I complied with the Corporate Transparency Act reporting requirements while they were active. Thanks for confirming!

Great question. From what I understand, if the CTA is ultimately struck down, there would likely be instructions from the court about what happens to already-submitted data. In similar situations with other agencies, courts have sometimes ordered collected information to be deleted or segregated. But it's not guaranteed.

Thanks for pointing this out! I hadn't even considered the liability aspect. So how should I properly document the transfer if I decide to move some of my stock profits into my business? Is there a specific form or process?

You should create a written resolution documenting the capital contribution or a formal loan agreement if it's structured as a loan. For a capital contribution, create a simple document stating the amount, date, and purpose that you're contributing capital to the business. Keep this with your company records. If you structure it as a loan, create a proper loan document with terms, interest rate (use the applicable federal rate at minimum), and repayment schedule. Then make sure your business actually makes the payments according to the schedule. This is more complicated but can be advantageous in certain situations if you want to pull the money back out later without tax consequences.

I used TurboTax last year with a similar situation. It does have separate sections for capital gains and business expenses, but it doesn't specifically guide you on the relationship between them. I had to know myself that they needed to be reported separately. The software doesn't warn you about taking stock profits and using them for business stuff - you have to understand that concept yourself.

No, we didn't have any unusually large deductions or one-time payments. We just have the standard mortgage interest deduction, and we each contribute to our 401ks at work but nothing extraordinary. We've been in the same house for 5 years and our medical expenses were minimal. I think you guys hit the nail on the head about the dual income thing. We're both making good salaries but neither of us checked the box for "multiple jobs or spouse works" on our W4s. I'm going to have us both submit new W4s with that box checked and see if that helps!

This is such a good point! My company was still using the old allowances-based W-4 until mid-2023. When I finally submitted the new version, my withholding was much more accurate. The old system was terrible for dual-income households.

Do you remember what number you called? I tried their general support line and got stuck in an automated system that wasn't helpful at all.

I used 1-800-446-8848 which is their customer service line specifically for account issues. When you call, say "account help" or "speak to a representative" to bypass most of the automated system. Be prepared to verify your identity with things like your name, address, and the email you used to create your TurboTax account. Having your Social Security number handy helps too. The wait times can be long during tax season, but if you call early in the morning right when they open, it's usually much shorter.

Are you sure about the 2023 date? Since 2019 taxes were due in 2020, wouldn't the deadline be April 2023, not 2025?

I didn't know that was an option! Most of the ones I looked at wanted the full payment upfront before even starting. Do you have specific ones you'd recommend that let you pay just for the filing part? I've already filled out all my forms so I'm really just looking for the electronic submission part.

FreeTaxUSA is pretty good for this approach. You can complete your federal return for free, then it's just $15 for the state portion. Some others like TaxAct and TaxSlayer have similar options where the federal basic filing is free and you just pay for state. If you've literally already completed the physical forms with a pen, then using the IRS Free File Fillable Forms mentioned above is your best bet. You'll just need to transfer the information from your paper forms to the electronic versions. There's a bit of duplicate work, but it's free and gives you the e-file benefits.

Certified mail with return receipt is essential too. It's a few extra dollars at the post office but gives you proof of when they received it. I file on paper every year and always use certified mail after having a return "lost" in 2018.