I'm currently in my second week of waiting after e-filing on February 26th, and this thread has been incredibly informative! As a first-time e-filer, I was getting anxious seeing that 21-day estimate everywhere but not understanding all the variables that can affect timing. My return includes a W-2 and some small 1099-INT interest income, plus I claimed the standard deduction - so hopefully I'm in the "straightforward" category that processes closer to the 21-day mark. The transcript checking method sounds like a game-changer compared to the vague WMR updates. I really appreciate everyone sharing their actual timelines and experiences - it's so much more helpful than the generic IRS guidance. Planning to check my transcript this weekend and adjust my budget expectations to the 30-day range just to be safe!

Filed my return on March 1st as a first-time e-filer with just W-2 income and standard deduction. Reading through everyone's experiences here has been so reassuring! I was getting worried seeing different timelines everywhere, but it sounds like 21-30 days is realistic for most situations. Already set up direct deposit and planning to check my transcript this weekend based on all the recommendations here. The batch processing explanation really helps explain why timing seems so unpredictable. Thanks to everyone for sharing their real experiences - it's way more helpful than the vague official estimates!

For student loan interest, make sure your loan qualifies! Not all education loans are eligible for the above-the-line deduction. Private loans used for non-educational expenses won't count.

Thanks everyone for all this helpful info! I'm the original poster and this has been incredibly educational. I had no idea about the income phase-out limits or that there were so many other above-the-line deductions I might be missing. Just to clarify my situation - I'm single making about $68k, so it sounds like I should be able to claim the full $2,100 in student loan interest since I'm below the $75k phase-out threshold. I found my 1098-E form and will definitely enter this on Schedule 1 like Dmitry explained. One follow-up question though - do I need to keep any other documentation besides the 1098-E form? My loan servicer sent me some other statements throughout the year but I'm not sure if the IRS needs anything beyond that single form for the deduction.

Has anyone had success getting a refund of preparation fees from tax chains when they mess up? TaxKing messed up my return last year (claimed I couldn't deduct my home office even though I'm self-employed and meet all requirements) and I had to pay another preparer to fix it.

This is exactly why I always tell people to be extremely cautious with tax prep chains, especially during busy season. What happened to you is unfortunately very common - they hire temporary workers who get minimal training and are pressured to rush through as many returns as possible. For your situation, I'd definitely recommend filing the amended return yourself using Form 1040X. The student loan interest deduction and business expenses are straightforward to correct. You'll need to attach revised Schedule 1 and Schedule C forms showing the correct amounts. Keep all your documentation organized - receipts for business expenses, Form 1098-E for student loan interest, etc. Don't pay TaxQuotes another dime to fix their mistake. The IRS website has good instructions for Form 1040X, and there are free tax clinics (VITA programs) that can help if you get stuck. You should also consider filing a complaint with the IRS using Form 14157 - this helps them track problem preparers and can lead to penalties. Most importantly, document everything about this experience in case you need to pursue getting your original preparation fees refunded. Many chains have satisfaction guarantees they don't advertise but will honor if you push back hard enough.

Hey Justin! I completely understand your anxiety - medical bills waiting and your first refund can be really stressful. I've been using Serve for tax refunds for about 3 years now, and here's what I've learned: the 3/22 DDD means the IRS released your funds on Friday, but Serve typically takes 1-3 business days to actually post it to your account. Since Friday was the release date, I'd expect to see it by Tuesday or Wednesday at the latest. Serve doesn't show pending deposits, so it'll just appear suddenly when they process it. Try setting up SMS notifications instead of checking constantly - it'll save your sanity! Your refund is definitely coming, just hang in there a bit longer. The waiting is the worst part, but I've never seen a properly issued refund actually get lost.

I'm in a similar situation with my Serve card and 3/22 DDD! Based on what everyone's sharing here, it sounds like we just need to be patient for a few more days. I've been checking my account constantly too, but it's good to know that Serve doesn't show pending deposits - that explains the radio silence. I'm going to follow the advice about setting up SMS alerts and try to stop obsessively refreshing the app. It's reassuring to hear from people who've been through this process multiple times with Serve. The consensus seems to be that refunds do arrive, just not always on the exact DDD. Fingers crossed we all see our deposits by mid-week!

One thing nobody's mentioned - if you're trading frequently enough to deduct expenses, the IRS might question why you haven't registered as a securities dealer and collected/paid sales taxes. Be careful about claiming too much "business" activity without proper licensing.

Great question! I made the transition to full-time trading two years ago and learned some hard lessons about tax planning. Here's what I wish I knew upfront: The expense deduction issue is tricky - you need to qualify for "trader tax status" (different from MTM election) to deduct your trading expenses on Schedule C. This requires meeting the IRS test of "substantial, regular, and continuous" trading activity. Just trading full-time isn't automatically enough - they look at frequency of trades, time spent, and whether you're seeking short-term profits. One key point many miss: even with trader status, your actual trading profits still aren't subject to self-employment tax. The SE tax only applies to other business income you might have (like teaching trading courses or selling signals). My advice: Start documenting everything now - daily trading logs, hours spent, your trading strategy, and all expenses. The IRS will want to see this pattern of business-like activity if you're audited. Also consider consulting with a tax professional who specializes in trader taxation before making the leap. The rules are complex and getting it wrong can be expensive. The MTM election is a separate decision that affects how your trades are taxed, not whether you can deduct expenses. You can have trader status without MTM, but you need trader status to properly deduct most of your trading-related expenses.