One important thing I didn't see mentioned - if you're applying online for an EIN, you can only do it during the IRS's business hours (7am-10pm Eastern time, Monday-Friday). I tried doing mine on a Saturday and got so confused when the system wouldn't let me submit!

I just went through this exact process last month and wanted to share what I learned. You absolutely can get your EIN first without having a DBA filed - just leave that field blank on the application. The key thing to understand is that your EIN is tied to your tax identification (your SSN if you're a sole proprietor), not your business name. So whether you operate under your legal name or a DBA later doesn't affect your EIN itself. I'd recommend getting your EIN first since you need it for so many things - opening business bank accounts, getting business licenses, etc. You can always file your DBA later when you're ready. Just make sure to use your DBA name consistently on all business documents once you have it registered. One tip: when you do file for your DBA, keep a copy of the certificate handy. Some banks and vendors will want to see it when you're doing business under that name, even though your EIN application didn't require it.

One thing I learned the hard way during my internship last year - make sure you understand how your employer is classifying different parts of your compensation! My company paid me a base salary plus a "living allowance" for housing, and I assumed it was all the same for tax purposes. Turns out the housing allowance was considered taxable income but they weren't withholding taxes from that portion. I ended up owing way more than expected when I filed my return. Now I always ask HR upfront: "What parts of my total compensation package are subject to payroll taxes and withholding?" Also, keep track of any work-related expenses you pay out of pocket (like transportation to client sites, professional development materials, etc.) - some of these might be deductible depending on your situation. Save all your receipts! The multi-state tax situation mentioned above is super real too. If you're working remotely for part of your internship from your home state, that can create additional complications. Best to clarify with your employer early where they'll be reporting your income as earned.

Great discussion everyone! As someone who's helped many students navigate internship taxes, I'd add a few key points: 1. **Quarterly estimated taxes**: If your employer isn't withholding enough (especially common with stipends), you might need to make quarterly payments to avoid underpayment penalties. The safe harbor rule is generally to pay at least 90% of current year taxes or 100% of last year's taxes. 2. **FICA taxes on stipends**: Even if your stipend isn't subject to income tax withholding, it might still be subject to Social Security and Medicare taxes depending on how it's structured. This is another good question for your employer's payroll department. 3. **Form 8615 ("Kiddie Tax")**: If you're under 24 and a full-time student, and have significant unearned income (like investment gains from your internship savings), you might be subject to the kiddie tax rules where some income is taxed at your parents' rates. 4. **Documentation**: Keep copies of your offer letter, pay stubs, and any communication about tax treatment. This will be invaluable if questions arise later or if you need to file amendments. The multi-state issue is huge - some states have reciprocity agreements while others don't. Also consider that some cities (like NYC) have their own income taxes on top of state taxes.

I've been dealing with a similar situation in my consulting business and wanted to offer another perspective on the whole vehicle transfer question. One thing I discovered that might be relevant to your situation: if you're planning to continue using this truck for business purposes even after personal ownership (which it sounds like you are with the mileage tracking approach), you might want to consider the impact on your business deductions going forward. When you own the vehicle personally and use the standard mileage rate for business trips, you're essentially getting a smaller deduction than you would with actual expense method under business ownership - especially for a newer truck with high operating costs. The standard mileage rate for 2024 is 67 cents per mile, but if your truck's actual costs (depreciation, fuel, maintenance, insurance) work out to more than that per mile, you're leaving money on the table. Also, something to consider: if your business really needs a work truck for hauling and you're going to continue using this one for business anyway, you might be creating an unnecessary complication. Have you looked into just getting a basic personal commuter car instead? Used cars are much more affordable right now than trucks, and you could probably find something reliable for personal use while keeping your business truck setup intact. The insurance angle that others mentioned is real too - I had to switch to a commercial auto policy even for personal ownership because my regular carrier wouldn't cover business use beyond basic commuting. Just food for thought as you weigh your options!

This has been an incredibly thorough discussion! As someone who's been researching this exact scenario for my own business, I wanted to add one more consideration that might help with your decision-making process. Have you looked into the potential impact on your Qualified Business Income (QBI) deduction under Section 199A? If your LLC qualifies for the QBI deduction, removing a significant depreciable asset like the truck could affect your calculation, especially if you're near any of the income thresholds or W-2 wage limitations. The truck's depreciation and any wages paid for maintenance/operation count toward the qualified business income calculation. If you transfer it to personal ownership, you lose those business expense deductions, which could potentially reduce your QBI benefit. For some business owners, this can be a meaningful difference come tax time. Also, I noticed several people mentioned getting professional help with the transfer process. If you do decide to move forward with the transfer, consider reaching out to a tax professional who specifically deals with small business asset transfers. The depreciation recapture calculation can get complex, especially with Section 179 involved, and the state-level requirements vary so much that generic advice might miss important details for your specific situation. But honestly, after reading all these responses, the idea of just keeping the truck for business and buying a used personal vehicle seems like the path of least resistance. Sometimes avoiding the problem entirely is the smartest solution!

I'm new to this community but dealing with this exact situation right now! Just got both 810 and 570 codes on my transcript about 2 weeks ago and was honestly panicking until I found this thread. The IRS rep told me the same 180-day timeline, but reading everyone's experiences here has been such a huge relief! It sounds like these codes are way more common than I initially thought. Mine was probably triggered by some consulting work I picked up last year - had several 1099-NEC forms that were completely different from my usual W-2 only income. The waiting is definitely stressful since I was counting on using my refund for some car repairs, but seeing story after story of people getting resolved in 8-12 weeks instead of 6 months gives me actual hope! What I've learned from this thread is that the 810 is basically their automated system flagging returns for routine income verification when there are changes from previous years, and the 570 just holds your refund while they sort it out. Thanks to everyone for being so open about sharing your experiences - it really helps to know we're not alone in this and that there's usually a positive outcome much sooner than they initially tell you. I'll definitely keep checking back to share my progress!

I'm completely new to this community and just joined because I'm going through this exact same stressful situation right now! Got both 810 and 570 codes on my transcript about 3 weeks ago and the IRS gave me that same dreaded 180-day timeline. Reading through everyone's experiences here has been such a lifesaver - I honestly had no idea how common this actually was! It sounds like the 810 code is triggered by their automated income verification system when there are changes or new income sources compared to previous years. Mine was likely flagged because I started doing some DoorDash driving last year plus had a significant raise at my regular job, so my income pattern looked very different from 2023. The 570 is just holding my refund while they sort everything out. The waiting has been really nerve-wracking since I was planning to use my refund to pay down some student loans, but seeing all these success stories where people got resolved in 8-12 weeks instead of the full 180 days gives me so much hope! What strikes me most about this thread is how supportive everyone is and how willing people are to share their experiences to help others going through the same anxiety. It's clear that while the IRS gives these worst-case timelines, the reality is usually much better. Thanks to everyone for being so open - it really helps to know we're all in this together and that there's typically light at the end of the tunnel much sooner than they initially tell you!

This entire thread has been incredibly educational and reassuring! As someone who's been lurking in tax forums trying to understand ACA implications, I really appreciate how everyone has shared their real experiences with overlapping coverage situations. What strikes me most is how common this mistake apparently is during job transitions. I always assumed I was the only one who could mess up something this important, but reading through everyone's stories makes it clear that the system anticipates these situations and has processes in place to handle them. The key takeaways I'm getting from all these responses are: 1. Act immediately to cancel the Marketplace plan - don't wait 2. The repayment caps protect you from catastrophic amounts 3. Document everything, especially the timeline of when employer coverage became available 4. The IRS values good faith efforts to correct mistakes once discovered 5. Form 8962 isn't as scary as it sounds, especially with proper documentation For anyone else reading this thread who might be in a similar situation - it sounds like the most important thing is to stop procrastinating (like I have been) and just make that call to the Marketplace. Every month you delay potentially increases what you'll owe. Victoria, thank you for having the courage to post about this situation. Your question has created such a valuable resource for people dealing with similar issues!

I'm dealing with a very similar situation and this thread has been absolutely invaluable! I had Marketplace coverage starting in February 2023, got a job with employer benefits in September, but just discovered last month that I never canceled my Marketplace plan. Reading everyone's experiences here has honestly saved my sanity. What's been most helpful is understanding that this isn't some catastrophic rare mistake - it's actually a common issue during job transitions and there are established processes to handle it. The repayment cap information has been particularly reassuring since I was imagining owing thousands of dollars. I already contacted the Marketplace after reading through these responses, and just like others mentioned, the representative was completely understanding about the situation. She was able to backdate my cancellation to September with my employer benefits enrollment letter and explained that they see these overlaps frequently during job transitions. One thing I wanted to add that might help others - when calculating whether your employer coverage is "affordable" under the ACA rules, make sure you're using the employee-only premium cost, not family coverage. My employer charges $125/month for individual coverage on my $30k salary, which works out to 5% of income (well below the 9.12% threshold), so I know I'll need to repay credits for those months. The representative also mentioned that the corrected 1095-A form should arrive within 4-6 weeks of making the changes, which gives plenty of time before tax season gets too busy. Victoria, please don't stress about this anymore - you're going to be absolutely fine! Just make that call to the Marketplace ASAP and you'll be well on your way to getting everything sorted out.