I work at a tax preparation office and can confirm everything that's been said here. The IRS has been using whole dollar rounding for decades - it's in their internal processing systems and all the official forms are designed around it. What likely happened is your tax software calculated everything with cents during the preparation process (which is helpful for accuracy), but when it generated the actual forms to submit to the IRS, all amounts were rounded to the nearest whole dollar as required. So while you saw $2,491.67 in the software's calculations, the form that went to the IRS probably showed $2,492 (since .67 rounds up), but then there may have been some other small adjustment during IRS processing that brought it down to $2,491. This is super common and nothing to worry about. The difference is always going to be less than a dollar due to rounding, and it can go either way - sometimes you get a few cents more, sometimes a few cents less.

This is a great question and the answers here have been really thorough! Just to add one more perspective - I've noticed this rounding thing with my refunds for years but never really thought about it until now. What's interesting is that sometimes my refund would be a few cents higher than expected, and other times a few cents lower. Now I understand it's all about how the various numbers on my return get rounded before the final calculations. For anyone else wondering about this, I found that looking at the actual PDF of your submitted tax forms (which most tax software lets you download) will show you exactly what numbers were sent to the IRS - all in whole dollars. That way you can see the "official" calculation that the IRS used versus what the software showed you during preparation. Definitely not worth stressing over a few cents, but it's good to understand why it happens!

If you have access to your transcript, look for these codes: Code 971 - Notice Issued Code 846 - Refund Issued Code 841 - Refund Cancelled The chronological order will tell you what's happening. If you see 841 after 846, it means the direct deposit failed and they're processing a paper check.

This is SO frustrating! I had a similar issue two years ago where my account number got changed somehow during processing. The IRS tried to deposit to the wrong account, it got rejected, and then I had to wait almost 6 weeks for the paper check to arrive. One thing that really helped me was checking my tax transcript regularly - it shows the exact timeline of what's happening with your refund. Look for code 846 (refund issued) followed by code 841 (refund cancelled/rejected) - that confirms the direct deposit failed and they're switching to paper check. The waiting is the worst part, especially when you need the money for unexpected expenses. But at least once they switch to paper check mode, it usually arrives within 3-4 weeks. Hang in there! 💪

Little tip that helped me: Your decision to file jointly or separately with your spouse should almost always be based on what gives you the lowest TOTAL tax. In your case with only $15k of business income, filing jointly and taking the standard deduction will almost certainly be better than any separate filing strategy. I wasted so much time trying different scenarios last year!

This thread has been super helpful! As someone who also recently started self-employment, I had the exact same confusion about business expenses vs. personal deductions. One thing I learned the hard way is to keep meticulous records of ALL your business expenses throughout the year - don't wait until tax time to sort it out. I use separate bank accounts and credit cards for business vs. personal expenses, which makes everything much cleaner when it's time to file. Also, @Sofia Torres, since you're new to the US tax system, you might want to consider working with a tax professional for your first year or two of self-employment. The peace of mind is worth it, especially when dealing with Schedule C, self-employment tax, and quarterly payments. Once you understand the process, you can potentially handle it yourself in future years. The key takeaway from this discussion is definitely that business expenses reduce your Schedule C profit FIRST, then you apply the standard deduction to whatever income flows to your personal return. Keep those two concepts separate and you'll be fine!

This is a really important question that a lot of people don't think about until it's too late. One thing I'd add to the great advice already given is to make sure you understand whether your trust is grantor vs. non-grantor for tax purposes, as this can also affect the basis treatment. Also, don't just assume the trustee will automatically provide all the basis information you need. In my experience, some trustees are great about this, but others will give you minimal documentation unless you specifically ask for detailed records. I'd recommend requesting not just the cost basis, but also any records of stock splits, dividends reinvested, or other corporate actions that might have affected the basis over time. One more tip: if you're planning to sell some of these assets relatively soon after receiving them, it might be worth having a tax professional review the distribution documents before you make any moves. The holding period rules can be tricky, and a small mistake could cost you thousands in unnecessary taxes.

One thing I'd strongly recommend is getting everything in writing from the trustee before the distribution happens. I learned this the hard way when I received a trust distribution a few years ago and the trustee was very informal about the documentation. Ask specifically for: 1. A detailed schedule showing each asset being distributed with original purchase dates and cost basis 2. Confirmation of whether the trust is revocable/irrevocable and grantor/non-grantor status 3. Any records of corporate actions (splits, mergers, spin-offs) that affected the assets while held by the trust 4. A statement confirming whether you're receiving carryover basis or stepped-up basis Also, consider the timing of your distribution if you have any control over it. If some assets are close to hitting the one-year mark for long-term treatment, waiting a few weeks could save you significant taxes if you plan to sell soon after receiving them. Finally, keep in mind that different assets in the same distribution might have different holding periods and basis treatments. Don't assume everything will be treated the same way - each investment needs to be evaluated individually based on when and how the trust acquired it.

I went through a similar process last year importing specialty cigarettes from Greece to the UK, and I can share some practical insights from my experience. The customs process was more straightforward than I expected, but the costs were definitely higher than anticipated. For reference, I imported 3 cartons (300 cigarettes) and ended up paying around £180 in total duties and taxes, plus another £12 handling fee from Royal Mail. One thing I learned is that timing matters - my package was held at customs for about 10 days during a busy period, so factor that into your planning. Also, make sure you have the funds readily available when you get the customs notification, as there's usually a time limit for payment before they return the package to sender. Regarding the packaging requirements that others mentioned, I was worried about this too, but for personal imports under 1000 cigarettes, the enforcement seems more relaxed. My Greek cigarettes didn't have UK-compliant packaging, but they were released without issues since they were clearly marked as personal imports. My advice would be to definitely start with a smaller quantity first - maybe 2-3 cartons max - to test the process and get a feel for the actual costs and timeline involved.

I've been following this thread with great interest as I'm in a very similar situation - I split my time between the UK and Cyprus and there's a particular Cypriot cigarette brand I can't find anywhere in the UK. Based on all the advice here, I'm planning to start with a small test shipment of just 2 cartons to understand the process and actual costs involved. The real-world examples from Yuki and Paolo are incredibly valuable - it's one thing to read about theoretical duty rates, but hearing that 3 cartons cost around £180 in total gives me a much clearer picture. One question I haven't seen addressed: does the country of origin affect the duty rates at all, or is it the same flat rate regardless of whether the cigarettes come from Turkey, Greece, Cyprus, etc.? I'm assuming it's standardized since these are all non-EU imports now, but wanted to confirm. Also, for those who've successfully completed imports - how long did the entire process take from when the package was shipped until it was delivered to your door? I'm trying to plan around some travel dates and want to make sure I'm available to handle any customs payments when they come up.