I'm dealing with the exact same issue! My IRS transcript shows today as the deposit date for Credit Karma, but still nothing in my account. This is my first year using Credit Karma for tax refunds, so I was getting pretty worried. After reading everyone's experiences here though, it seems like Credit Karma's 1-2 day delay beyond the IRS deposit date is completely normal for them. Really appreciate everyone sharing their timelines - it's helping me understand that this isn't an error, just how their processing works. I'll stop refreshing my account every few minutes and wait until tomorrow or Friday. Thanks for creating this thread, it's been incredibly helpful for those of us experiencing this for the first time!

I'm experiencing the exact same situation! My transcript shows today's deposit date with Credit Karma, but nothing has appeared yet. As someone relatively new to the US banking system, I was getting quite anxious about this delay. However, reading through all these experiences has been incredibly reassuring - it seems Credit Karma consistently takes 1-2 business days beyond the IRS deposit date to process tax refunds. I've been checking my account repeatedly since early morning, but based on everyone's shared timelines, it sounds like I should expect it to arrive tomorrow or Friday. Really grateful for this community discussion - it's helping me understand that this delay is just Credit Karma's normal processing pattern rather than an error with my filing. Thanks to everyone for sharing their experiences and helping newcomers like us know what to expect!

11 Quick question about this MLP situation - if I do end up with a small amount of UBTI in my retirement account from an MLP (like $200), do I need to report it anywhere or only if it exceeds the $1000 threshold?

8 This is a great discussion that highlights an important distinction many investors miss. For your specific situation with day trading MLPs in your Roth IRA, you're correct that you don't need to report anything since you didn't receive distributions and only generated capital gains. One thing to add: even if you do receive a K-1 form in the mail (which happens sometimes even for short-term holdings), look specifically at Box 20 Code V for any UBTI amounts. If it's blank or shows zero, you're definitely in the clear. The custodian of your Roth IRA should also be tracking any UBTI, but it's good to understand this yourself. For future reference, if you want MLP exposure without the tax complications, consider energy sector ETFs like XLE or pipeline-focused ETFs like AMLP - these give you similar exposure without the K-1 forms and UBTI concerns in retirement accounts.

I learned the hard way that if you're self-employed, you're supposed to make estimated tax payments DURING the year (quarterly). If you didn't, then you're already late on those payments and that's why you'll owe penalties even if you pay "on time" by April 15. The deadlines for estimated payments were April, June, September 2024 and January 15, 2025.

Just to add some clarity to what others have mentioned - the key thing to understand is that there are actually two different types of penalties you might face: 1. **Failure to File penalty** - charged if you don't file by April 15 (5% per month) 2. **Underpayment penalty** - charged if you didn't pay enough taxes during 2024 through withholding or estimated payments For your situation with $7,800 owed, filing early vs. April 15 won't save you money on the underpayment penalty since that's already calculated based on what you should have paid quarterly during 2024. However, filing early does protect you from the failure-to-file penalty. One thing I don't see mentioned yet - if this is your first time owing significant penalties, definitely ask about **first-time penalty abatement** when you call the IRS. They can often waive the entire underpayment penalty if you have a clean compliance history for the past 3 years. This could potentially save you hundreds of dollars and is worth a phone call to request. Also, make sure to calculate whether you might qualify for any of the safe harbor rules mentioned earlier - sometimes people think they'll owe penalties when they actually won't!

I actually went through something similar after my divorce two years ago - totally understand the stress of navigating tax stuff solo! I had success calling the IRS about transcript codes, but here's what worked for me: call early in the morning (like 7-8 AM) to avoid the worst hold times, and ask to speak with someone in the "Accounts Management" department specifically. They tend to be more knowledgeable about transcript codes than general customer service. Before you call, write down all your codes and have your transcript in front of you. The rep I spoke with explained each code step by step and even told me what to expect next based on the sequence of codes on my account. Don't be afraid to ask them to repeat or clarify anything - they're used to people not understanding the codes. Also, if the first person you talk to seems unsure, it's totally okay to hang up and call back to get someone else. Good luck!

Hey Keisha! First off, sorry to hear about your divorce - that's tough to navigate alone. I've had mixed success with IRS phone reps on transcript codes. Some are really knowledgeable and will walk you through each code, while others just read the basic definitions you can find online. Here's my strategy that's worked: call the main IRS number (1-800-829-1040) and when prompted, say you need help understanding your account transcript. They'll transfer you to someone who should be able to explain the codes. Have your Social Security number, date of birth, and last year's adjusted gross income ready for verification. Also, write down the specific codes you're seeing before you call - like 150, 570, 971, etc. - so you can ask about each one directly. If the first rep seems unhelpful or uncertain, don't hesitate to call back and try again. Sometimes you just need to find the right person who knows their stuff. The call might take a while with hold times, but it's free and could save you the cost of a tax professional. Good luck with everything!

Based on my experience helping clients with 72t SEPP plans, I'd strongly recommend waiting for professional guidance rather than rushing into this with just the online calculator. The stakes are simply too high - one mistake can trigger penalties on ALL your distributions retroactively. Here's what I've seen go wrong when people DIY their SEPP plans: using the wrong account balance date, not properly documenting the interest rate selection, accidentally taking an extra distribution (even $1 over), or not realizing certain account features violate the rules. The IRS doesn't give second chances with 72t violations. If you absolutely can't wait for your regular accountant, consider getting a second opinion from another tax professional who specializes in retirement distributions. Many CPAs offer quick consultations specifically for 72t setups. The few hundred dollars you'll spend upfront could save you thousands in penalties later. The online calculator is a good starting point to see rough numbers, but don't use it as your final authority for setting up the actual plan. Document everything meticulously if you do proceed, and make sure you understand every single rule before taking your first distribution.

I've been through this exact situation and want to share what I learned. While the online calculators can give you the basic numbers, there are so many nuances that aren't immediately obvious. For example, I didn't realize that if you have any automatic dividend reinvestments or rebalancing in your chosen account, that could violate the 72t rules. Also, the timing of when you take your first distribution affects which interest rates you can use. What really helped me was creating a detailed checklist before starting: verify the account has no automatic features that could cause unintended transactions, document the exact balance on the calculation date, save screenshots of the interest rate I used and where I got it from the IRS website, and set up a system to ensure I take the exact same amount each year (down to the penny). If you do decide to use the calculator route, I'd suggest at least having a one-time consultation with a tax pro to review your setup before taking that first distribution. Once you start, you're locked in for years, so getting it right from the beginning is crucial. The peace of mind is worth the consultation fee.