14 Has anyone noticed that FREETAXUSA sometimes hides forms in weird places? I had to file a Schedule C last year and spent like an hour hunting for it before I found it buried in a submenu.

15 I went through this exact same nightmare situation two years ago! My employer literally disappeared - office empty, phones disconnected, the works. Here's what I learned that might help your cousin: 1. **Document everything** - Keep records of all your attempts to contact the employer (emails, phone calls, etc.). The IRS may ask for proof that you tried to get the W-2. 2. **Check your Social Security account** - Go to ssa.gov and create an account. Your earnings should show up there even if you never got a W-2, which can help you get accurate wage amounts. 3. **Look at your final paystub carefully** - If she has ANY paystub from that job, it will show year-to-date totals that can help estimate the full year amounts. 4. **Bank statements are your friend** - Even without paystubs, your bank deposits from that employer can help reconstruct how much you actually received. The Form 4852 process in FREETAXUSA is actually pretty straightforward once you find it. Just be as accurate as possible with your estimates and keep all your documentation. I had no issues with my filing and the IRS never questioned it.

I'm experiencing the exact same thing! My transcript shows DDD for today with Chime and I've been checking my account religiously since 6am with no deposit yet. This is actually my second year using Chime for my refund, and last year I remember getting so anxious about the same delay - it didn't hit until almost 8pm on my DDD date. Reading through everyone's experiences here is bringing back those memories and really helping calm my nerves. It's so reassuring to see that @Olivia Kay and @Jibriel Kohn already received theirs today, just later in the day. I completely forgot that Chime processes these IRS deposits in batches throughout the day rather than all at once in the morning. The waiting is absolutely nerve-wracking, especially when you have bills due soon! Going to try my hardest to step away from constantly refreshing and check back around dinner time. Thanks everyone for sharing - it really helps to know this delay is totally normal and we're all going through this stressful waiting period together!

I'm going through the exact same situation right now! My transcript shows DDD for today with Chime and I've been checking my app constantly since this morning with absolutely nothing. This is my first year using Chime for my tax refund and I was starting to really worry that I somehow entered my account information incorrectly on my return. Reading through all these comments has been incredibly reassuring though - I had no idea that Chime processes IRS deposits in batches throughout the day rather than all at once! It's so encouraging to see that @Olivia Kay and @Jibriel Kohn both received theirs later today, and that this seems to be completely normal during tax season. The waiting is definitely anxiety-inducing when you're counting on that money, but now I understand it's just how their system works. Going to try my best to stop refreshing every few minutes and check back this evening. Thank you everyone for sharing your experiences - it really helps to know we're all going through this stressful waiting game together!

Just wanted to add one more important detail that hasn't been mentioned yet - make sure you're actually qualifying as a "trader" rather than an "investor" before making the 475(f) election. The IRS has specific criteria for this, including trading frequency, holding periods, and whether trading is your primary business activity. If you don't meet the trader status requirements, the election won't be valid and you could face issues down the road. The basic test is whether you're engaged in trading as a trade or business, not just for investment purposes. Things like having substantial trading activity, short holding periods, and deriving income from daily market movements rather than long-term appreciation all support trader status. I'd recommend documenting your trading activity thoroughly to support your qualification if the IRS ever questions it.

Great discussion everyone! As someone who's been through this process, I wanted to add a few practical tips that helped me. First, when you create your election statement, make sure to keep multiple copies - one for your records, one with your tax return, and a backup. I actually sent mine via certified mail just to have proof of delivery, even though I was filing electronically. Also, once you make the 475(f) election, remember it's generally irrevocable without IRS consent. This means you'll need to use mark-to-market accounting for all future years unless you get permission to change. Make sure you're really committed to being a full-time trader because switching back requires filing Form 3115 and getting IRS approval. One last thing - start keeping meticulous records right away. With MTM accounting, you'll need to mark all your positions to market value at year-end, which means tracking the fair market value of every security you hold on December 31st. This becomes much easier if you start organizing your record-keeping system early in the year rather than scrambling at tax time.

I've been with Chime for about 2 years now and can definitely confirm they process deposits on weekends! Just got my tax refund this past Saturday around 9:15 AM when my DDD was scheduled for Monday. From my experience, Chime really does live up to their promise of processing deposits as soon as they receive them, 24/7. The key factor is when the IRS actually releases the funds, which is typically 1-2 days before your official DDD. So with your 5/26 date, you'll likely see the IRS send it out Thursday 5/24 or Friday 5/25. One thing I've noticed over multiple tax seasons is that weekend deposits tend to appear in the morning hours - usually between 8 AM and 11 AM in my experience. I'd recommend checking your account Saturday and Sunday mornings during that timeframe. The early deposit feature is honestly one of the main reasons I switched to Chime from my old bank. While my friends with traditional banks have to wait until their actual DDD, I've consistently received my refunds 1-2 days early. It's been a game-changer, especially when you're counting on that money for bills or expenses. Hope you see your refund early this weekend! The weekend processing really does work reliably with Chime.

I've been with Chime for about 6 months now and just went through my first tax refund experience with them! I can confirm they absolutely do process deposits on weekends. My refund hit my account on a Sunday morning around 10:20 AM when my DDD was for Tuesday. What really impressed me was how fast it processed once Chime received it from the IRS. I had been checking obsessively all weekend (like everyone here seems to do!), and when it finally appeared, it was literally within minutes of me checking the previous time. Based on what I've learned from this community and my own experience, the IRS typically sends refunds 1-2 days before the official DDD. So with your 5/26 date, you'll probably see the IRS release it Thursday or Friday, and then Chime will process it immediately regardless of it being the weekend. I'd definitely recommend checking Saturday and Sunday mornings between 8-11 AM like others have mentioned - that seems to be the sweet spot for weekend deposits. The weekend processing feature alone has made switching to Chime totally worth it compared to my old bank that would have made me wait until Tuesday! Fingers crossed you see your refund early this weekend! 🤞

For anyone wondering, the prize tax rules are in IRS Publication 525. Contest winnings are considered "Other Income" and fully taxable at your normal income tax rate. This includes cash, goods, services, trips, cars, etc. You'll get a 1099-MISC if the value is $600+.

Great question about the fundamental fairness of our tax system! As someone who's dealt with prize winnings before, I think the current system exists because of how we define "income" - the IRS views any increase in your wealth as taxable income to you personally, regardless of the source. The reason companies don't pay the taxes upfront is that it would essentially double their cost. If they wanted to give away a "tax-free" $50,000 car, they'd actually need to give you enough cash to cover both the car value AND the taxes on that total amount. So they might end up paying $70,000+ total just to get you a $50,000 car after taxes. Your comparison to gifts is interesting though - gifts aren't taxable to the recipient because there's no "exchange" happening. With contests, you're typically doing something (entering, participating, etc.) in exchange for the chance to win, so it's treated more like compensation. I do think there could be better systems - some companies now offer cash alternatives specifically so winners can choose to take money instead of dealing with the non-cash prize tax burden. But changing the fundamental tax code would require major legislative action.