Can't reach IRS? Claimyr connects you to a live IRS agent in minutes.
Claimyr is a pay-as-you-go service. We do not charge a recurring subscription.
Using Claimyr will:
- Connect you to a human agent at the IRS
- Skip the long phone menu
- Call the correct department
- Redial until on hold
- Forward a call to your phone with reduced hold time
- Give you free callbacks if the IRS drops your call
If I could give 10 stars I would
If I could give 10 stars I would If I could give 10 stars I would Such an amazing service so needed during the times when EDD almost never picks up Claimyr gets me on the phone with EDD every time without fail faster. A much needed service without Claimyr I would have never received the payment I needed to support me during my postpartum recovery. Thank you so much Claimyr!
Really made a difference
Really made a difference, save me time and energy from going to a local office for making the call.
Worth not wasting your time calling for hours.
Was a bit nervous or untrusting at first, but my calls went thru. First time the wait was a bit long but their customer chat line on their page was helpful and put me at ease that I would receive my call. Today my call dropped because of EDD and Claimyr heard my concern on the same chat and another call was made within the hour.
An incredibly helpful service
An incredibly helpful service! Got me connected to a CA EDD agent without major hassle (outside of EDD's agents dropping calls – which Claimyr has free protection for). If you need to file a new claim and can't do it online, pay the $ to Claimyr to get the process started. Absolutely worth it!
Consistent,frustration free, quality Service.
Used this service a couple times now. Before I'd call 200 times in less than a weak frustrated as can be. But using claimyr with a couple hours of waiting i was on the line with an representative or on hold. Dropped a couple times but each reconnected not long after and was mission accomplished, thanks to Claimyr.
IT WORKS!! Not a scam!
I tried for weeks to get thru to EDD PFL program with no luck. I gave this a try thinking it may be a scam. OMG! It worked and They got thru within an hour and my claim is going to finally get paid!! I upgraded to the $60 call. Best $60 spent!
Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
Based on my experience working with tax clients, I'd strongly recommend verifying your prepaid card's specific limits well before filing. I've seen too many people get caught off guard by the various restrictions mentioned here. One additional consideration that hasn't been brought up yet is that some prepaid cards charge fees for large deposits or have minimum balance requirements that kick in after receiving substantial amounts. Also, if you're expecting a refund over $10k, you might want to look into Treasury Direct accounts - they're designed specifically for government payments and don't have the same restrictions as commercial prepaid cards. The IRS can deposit directly into these accounts with no limits, and while they're not as convenient for daily spending, they're perfect for safely receiving large tax refunds.
Thanks for mentioning Treasury Direct accounts @Lucas Notre-Dame - I had no idea those existed! That seems like it could be a perfect solution for larger refunds. Do you know if there are any downsides to using Treasury Direct accounts compared to regular banking? Like, how easy is it to transfer money out of them to your regular checking account for daily expenses? And is the account opening process complicated? I m'expecting around a $12k refund this year so the traditional prepaid route clearly won t'work for me.
@Pedro Sawyer Treasury Direct accounts are actually pretty straightforward to set up - you just need to provide your SSN and bank info on their website. The main downside is that transfers out can take 1-2 business days to your regular bank account, so it s'not as instant as having the money directly in your checking account. But for a $12k refund, it s'definitely worth the minor inconvenience to avoid the headaches that come with prepaid card limits. You can also link multiple bank accounts to your Treasury Direct account, which gives you flexibility in how you move the money around once it arrives. Just make sure to set it up before you file your taxes since you ll'need the account number for your direct deposit info.
I've been researching this extensively for my own tax situation, and one thing I'd add is that you should also check if your chosen prepaid card supports the IRS's new "Where's My Refund" tracking system integration. Some cards don't properly report deposit attempts back to the IRS system, which can leave you in the dark about whether your refund was successfully deposited or rejected. I had this issue with a lesser-known prepaid card brand last year - the deposit failed due to their internal limits, but it took me three weeks to figure out what happened because their customer service couldn't see the attempted transaction. Meanwhile, the IRS system still showed "sent to bank" status. If you're going the prepaid route, stick with major providers like Green Dot, NetSpend, or American Express Serve that have established relationships with the IRS direct deposit system. Also, consider setting up account alerts beforehand so you'll be notified immediately if a deposit hits or fails - this can save you weeks of uncertainty during peak tax season.
That's such an important point about the "Where's My Refund" system integration! I never would have thought about that aspect. As someone new to using prepaid cards for tax refunds, this kind of behind-the-scenes compatibility issue could really catch me off guard. Do you happen to know if there's a way to verify ahead of time whether a specific prepaid card properly integrates with the IRS tracking system? I'm leaning toward Green Dot based on the discussion here, but I'd love to confirm they have solid IRS integration before committing. Also, when you mention setting up account alerts - are these typically available through the card's mobile app, or do you need to call customer service to enable them?
Join the conversation
This is a really common confusion! I went through the exact same thing last year. The key thing to understand is that if your plan through Aetna is truly "free" (meaning you're not paying premiums and didn't receive advance premium tax credits), then you wouldn't get a 1095-A form regardless of any dollar threshold. The 1095-A is specifically for people who purchased insurance through the Health Insurance Marketplace AND received premium tax credits that need to be reconciled on their tax return. If you have a free plan, it's likely either Medicaid coverage or some other type of subsidized plan that doesn't involve the Marketplace premium tax credit system. When FreeTaxUSA asks about the 1095-A, you can safely indicate you don't have one. The software is just being thorough by asking about all possible tax forms. Most people with employer coverage or Medicaid don't need this form at all. You should be able to proceed with your return without any issues once you tell the software you don't have a 1095-A.
This explanation really helps clarify things! I was getting worried that I was missing something important, but it sounds like my situation is pretty straightforward. I do have what appears to be a Medicaid plan through Aetna, so that explains why there's no 1095-A form coming my way. It's frustrating how the tax software makes it seem like you absolutely need every form they ask about, when in reality many of us don't qualify for certain forms at all. Thanks for breaking down the difference between Marketplace plans with tax credits versus other types of coverage - that distinction wasn't clear to me before.
I work as a tax preparer and see this confusion every tax season! You're absolutely right to be puzzled - Aetna's customer service gave you incorrect information about the $600 threshold. That threshold doesn't exist for 1095-A forms at all. Here's what's actually happening: Since you have a free health plan through Aetna, you most likely have Medicaid managed care coverage (where Aetna administers your state Medicaid benefits). Medicaid coverage doesn't generate 1095-A forms because it's not purchased through the Health Insurance Marketplace and doesn't involve premium tax credits. The 1095-A is exclusively for people who bought insurance through Healthcare.gov or their state's marketplace AND received advance premium tax credits that need to be reconciled on their tax return. Your free Aetna plan falls into a completely different category. When FreeTaxUSA asks about the 1095-A, simply select that you don't have one or that it doesn't apply to your situation. The software will move on and you can complete your return normally. You're not missing anything important - you just don't fit the profile of someone who would receive this particular form.
Join the conversation
I've been trading futures for about 2 years now and wanted to share something that really helped me understand the tax implications better. The 60/40 treatment is definitely a huge advantage, but one thing that caught me off guard my first year was how the mark-to-market rule affects your cash flow planning. Since you're taxed on unrealized gains at year-end, you could potentially owe taxes on profits you haven't actually "cashed out" yet if you're holding positions. I learned this the hard way when I had some profitable /NQ positions going into December and suddenly owed taxes on gains I was planning to let ride into the next year. Now I make sure to either close profitable positions before year-end if I don't want the tax hit, or I set aside cash throughout the year to cover potential taxes on open positions. It's actually made me a more disciplined trader because I have to think about the tax implications of keeping positions open across year boundaries. Also, since you mentioned you're 8 months in, definitely start making those quarterly payments. The penalty for underpayment isn't huge, but it's annoying and completely avoidable. I use the safe harbor rule - just pay 100% of last year's total tax liability spread across four quarters, and you're protected from penalties even if you end up owing more.
This is such valuable insight about the cash flow planning aspect! I hadn't really thought about how the mark-to-market rule could create a situation where I owe taxes on money I haven't actually realized yet. That's definitely something I need to plan for, especially since I tend to hold some positions for weeks or months. The safe harbor rule sounds like a smart approach for the quarterly payments. Since this is my first year with significant trading profits, I'm guessing my total tax liability this year will be much higher than last year, so paying 100% of last year's liability should be the easier path to avoid penalties. Do you have any rules of thumb for how much cash to set aside throughout the year for potential taxes on open positions? I'm thinking maybe I should calculate the potential tax hit on my current unrealized gains each month and make sure I have that amount liquid just in case.
Great question about setting aside cash! I use a pretty simple rule of thumb: at the end of each month, I calculate my total unrealized P&L on open positions and multiply that by my effective tax rate on futures gains. For someone in your situation with $65k regular income, you're probably looking at around 22% on the short-term portion (40%) and 15% on the long-term portion (60%), so roughly 17-18% effective rate on futures gains. So if I have $10k in unrealized gains on open positions, I'll set aside about $1,800 in a separate savings account earmarked for taxes. I don't touch this money unless I actually close the positions at a loss or need to make tax payments. The key is being conservative - I'd rather have too much set aside than scramble for cash come tax time. Plus, any extra cash you don't need for taxes can always go back into trading or investments after you file. One more thing - since you're holding positions for weeks to months, consider the timing of when you close profitable positions. If you're near a year boundary and have significant gains, sometimes it makes sense to either close everything before December 31st to control your tax timing, or make sure you have enough cash set aside to handle the mark-to-market treatment.
As someone who's been trading futures for about 3 years, I wanted to add a practical tip that really helped me manage the tax complexity you're dealing with. Beyond just understanding the 60/40 split, I found it incredibly helpful to track my "tax-adjusted" returns throughout the year. What I mean is calculating not just my gross P&L, but my after-tax returns based on my combined income situation. For example, with your $65k salary, any futures profits will push you into the 15% long-term capital gains bracket for the 60% portion, and around 22% ordinary income rate for the 40% portion. So your effective tax rate on futures gains is roughly 17-18%. When I factor this into my trading decisions, it actually influences my risk management and position sizing. I also keep a running "tax liability tracker" where I update my estimated quarterly payment needs based on both closed and open positions. This has been a game-changer for avoiding any cash flow surprises at year-end, especially with that mark-to-market rule on December 31st. One last thing - if you're consistently profitable, consider opening a separate trading entity (LLC taxed as S-Corp) down the road. The tax benefits can be significant for active futures traders, though you'll want to discuss this with a tax professional once your profits reach a certain level. The futures tax advantages are real, but having a solid tracking system makes all the difference in maximizing them!
This is exactly the kind of systematic approach I need to adopt! The idea of tracking "tax-adjusted" returns is brilliant - I've been focusing so much on gross P&L that I haven't been thinking about what I'm actually keeping after taxes. With my income level, that 17-18% effective rate on futures gains is definitely something I should factor into my position sizing decisions. The "tax liability tracker" concept sounds incredibly useful too. Right now I'm just hoping my broker's year-end statements will sort everything out, but having a running tally throughout the year would give me so much better visibility into my actual financial position. Quick question about the LLC/S-Corp structure you mentioned - at what profit level does that typically start making sense? I'm nowhere near that yet, but it's good to know it's an option down the road. I'm guessing there are additional compliance costs and complexity that need to be weighed against the tax benefits. Thanks for sharing these practical insights - this is exactly the kind of real-world advice I was hoping to get!
Join the conversation
Code 720 is totally normal - just means your return is in their processing queue! I've been through this several times and the wait can definitely be anxiety-inducing. What helped me was understanding that this code can stick around anywhere from 2-8 weeks depending on their workload and your return complexity. I'd recommend checking your transcript only once a week (Friday evenings work best since they update over weekends) rather than daily - trust me, obsessive checking just makes the wait feel longer! If you have a straightforward return with just W-2s and standard deduction, you're likely looking at the shorter end of that timeline. Hang tight! 🙂
This is such helpful advice! The 2-8 week timeline really helps set realistic expectations. I've definitely been guilty of checking way too often and you're absolutely right that it just makes the wait feel longer 😅 My return is pretty straightforward so hopefully I'll be on the shorter end of that range. The Friday evening check schedule seems to be what everyone recommends so I'm definitely switching to that. Thanks for the reassurance and practical tips!
Had code 720 show up on my transcript about 2 weeks ago and was getting pretty worried about what it meant! Reading through everyone's experiences here is super reassuring - sounds like it's just a normal processing code that means they've got my return and are working on it. The Friday evening check schedule that everyone's mentioning makes total sense, I've been checking mine way too often during the week. My return is pretty simple (just W-2 and standard deduction) so hopefully I'll see some movement soon. Thanks everyone for sharing your timelines and experiences, it really helps to know this is all part of the normal process! 🙏
Welcome to the 720 club! 😅 I'm in the same boat - just noticed this code on my transcript yesterday and was totally confused until I found this thread. It's so helpful to see everyone's experiences and know that 2+ weeks is totally normal. I'm definitely going to follow the Friday evening check advice instead of obsessively refreshing my transcript every day. Fingers crossed we both see some movement soon! The waiting game is rough but at least we know we're not alone in this process.
Amina Toure
This is exactly the kind of confusion that makes tax season so stressful! I'm dealing with a similar situation right now - excess 401k contributions that triggered penalties, and my tax software (TaxAct) is also trying to make me pay upfront even though I want to request a waiver. Reading through all these responses, it's clear that the IRS hasn't actually changed their policy, but multiple software companies seem to have botched their implementations. The fact that FreeTaxUSA handles it correctly while H&R Block, TaxAct, and apparently others don't suggests this is definitely a software bug rather than a real policy change. I think I'm going to try the FreeTaxUSA route since several people here have confirmed it works properly. Has anyone compared how FreeTaxUSA handles the reasonable cause statement attachment compared to other software? I want to make sure I'm giving myself the best shot at getting the waiver approved. Also wondering - for those who successfully got waivers approved, how long did the IRS take to respond? I'm hoping to avoid paying thousands in penalties while waiting months for a decision if I can help it.
0 coins
Ashley Adams
•I can share some insight on FreeTaxUSA's handling of Form 5329 waivers since I just went through this process myself. Their software has a dedicated section for reasonable cause statements where you can upload supporting documents and write your explanation directly in their interface. It's much more intuitive than trying to work around other software limitations. Regarding timing, my waiver took about 10 weeks to get approved by the IRS. During that time, I didn't have to pay the penalty amount - the key is that your tax return shows the waiver request properly coded with "RC" so the IRS knows you're requesting relief rather than trying to avoid payment. The IRS will send you a letter either approving the waiver or explaining why it was denied. One tip: when preparing your reasonable cause statement, include specific dates and dollar amounts. The IRS appreciates precision, and it shows you understand the situation thoroughly. Also keep copies of everything you submit since you might need to reference it later if they have questions.
0 coins
Amina Bah
I just wanted to add my voice to confirm what others have said here - this is definitely a software issue, not an IRS policy change. I'm a tax preparer and we've been getting calls about this exact problem from clients using various tax software platforms. The confusion seems to stem from how different software companies interpreted updates related to retirement account rules in SECURE Act 2.0. Even though the Act didn't touch Form 5329 penalty waiver procedures, several major tax software providers apparently modified their penalty calculation logic incorrectly during their 2024 updates. For anyone still struggling with this: the IRS instructions are clear and haven't changed. You can request a penalty waiver by entering "RC" in the penalty amount field and attaching a reasonable cause statement. Don't let faulty software force you into paying penalties you might not owe. If you're stuck with software that won't handle this correctly, either switch to one that does (FreeTaxUSA seems to be working properly based on the comments here), or prepare your return normally but paper file with manual corrections to Form 5329. Just make sure to adjust your total payment calculation accordingly. The most important thing is getting your waiver request filed correctly with the IRS, not which software you use to get there.
0 coins