Something nobody's mentioned - if this is your first job ever, you might qualify for some credits that will reduce any taxes you might owe. Did you have any tuition expenses? Moving expenses to get closer to work? Work from home expenses? Also make sure you claim the Climate Action Incentive payment if you live in Alberta, Saskatchewan, Manitoba or Ontario. It's a few hundred bucks you could get back depending on your province!

I went through this exact same stress last year! The good news is that if your employer has been deducting taxes from your paychecks (which it sounds like they have), you're probably in good shape. Here's what helped me figure things out: Get your T4 from your employer - they're required to give it to you by the end of February. This document will show exactly how much you earned and how much tax was already deducted. Since you mentioned your paystubs show tax withholding, you'll likely either owe a small amount or get a refund. For a first job with straightforward employment income, the withholding system usually works pretty well. A few quick tips for first-time filers: - Don't forget to claim the basic personal amount (everyone gets this) - If you moved for work, keep those receipts - moving expenses can be deductible - Any tuition or textbook expenses from school can reduce your taxes - Work-from-home expenses if your job required it The "chicken and egg" problem with the CRA account is super frustrating, but once you file your first return, you'll be able to access your online account for future years. Until then, the tax software options others mentioned will show you exactly what you owe (or what you're getting back) before you submit anything. You've got this! First-time filing is intimidating but it gets much easier once you've done it once.

My tax preparer told me that in addition to having a qualifying person, you also need to pay more than half the costs of the home maintenance - like rent/mortgage, utilities, repairs, property taxes, etc. Just having a dependent isn't enough if you don't pay the majority of household expenses. Something to consider!

Based on your situation, you should definitely qualify for Head of Household status! You don't need formal guardianship paperwork - the IRS allows informal care arrangements as long as you meet the requirements, which it sounds like you do. Since your nephew has been living with you full-time since September and you're paying for all his expenses, you're providing more than half his support. The key things to document and keep records of are: - School enrollment showing your address - Medical bills you've paid - Receipts for clothing, food, and other necessities - Any communication with your sister confirming the arrangement Make sure you have your nephew's Social Security Number for your tax filing. Also keep records showing you paid more than half the household expenses (mortgage/rent, utilities, groceries, etc.) since that's a separate requirement for HOH status. The informal arrangement is totally fine - many families have similar situations during difficult times. The IRS cares more about the actual facts (who lived where, who paid for what) than formal paperwork. Good luck with your taxes this weekend!

Dependents take longer to process becuz of all the fraud last year. Just gotta be patient unfortunately

This is totally normal! I went through the exact same panic last year. The "RETURN NOT PRESENT" message doesn't mean your return is lost - it just means the IRS hasn't finished processing it yet. Since you filed as Head of Household with dependents, your return goes through additional verification steps that can take 3-4 weeks, sometimes longer during busy season. The fact that your filing status is showing correctly on the transcript is actually a good sign that your return was received. Keep checking your transcript weekly and you should see those blank fields start populating once processing completes. Don't stress - FreeTaxUSA's acceptance message means you're in the system!

Don't forget about the possibility of an AMT credit! If you do end up paying AMT from exercising ISOs, you can potentially recover that as a credit in future years when your regular tax exceeds your AMT. Worth factoring into your long-term planning.

Just went through this exact scenario last year and want to share what I learned the hard way. Your $130k capital loss won't help with the AMT from ISO exercises, but here's a key point everyone's missing: timing matters hugely for your specific situation. Since your startup hasn't gone public, you're dealing with illiquid stock. If you exercise now and the company's valuation drops before going public, you could end up owing AMT on phantom gains while holding worthless shares. I'd strongly recommend exercising only what you can afford to lose completely, regardless of the tax implications. Also, consider that your $130k loss can carry forward for years - don't feel pressured to "use" it this year. With 45k options at a $1.40 spread, you're looking at ~$63k in AMT income as others calculated. Maybe exercise 15k-20k options this year to test the waters, then reassess next year based on your company's progress and your financial situation. The AMT credit is real, but only helpful if you eventually have regular tax exceeding AMT - which might not happen for years with a startup that could fail. Better to be conservative here.

I can totally relate to your frustration with those constantly changing transcript dates! What you're seeing is actually pretty normal - that July 8th date is the IRS system automatically calculating projected interest and penalties. It's like a built-in calculator that keeps updating to show what you'd owe if your return stays in processing limbo until that date. The reason it keeps shifting from 9/18/2023 to different dates is because their computer system refreshes these projections regularly - sometimes weekly or even more frequently. It doesn't mean anything is actually happening with your case, just that the system is updating its "what if" calculations in the background. Since you're still within that 180-day window they gave you (ending in October), these are just hypothetical numbers. The important thing to watch for are actual processing codes or transactions on your transcript - things like "return processed" or "refund issued" - those indicate real movement on your account. I know it's tempting to check every week, but try not to stress about those moving penalty dates. They'll keep updating until your return is actually processed. Focus on looking for genuine account activity instead - that's where you'll see the real progress when it happens!

I completely understand your confusion about those transcript dates - it's honestly one of the most stressful parts of waiting for the IRS to process your return! What you're seeing with that July 8th date is actually the IRS's automated system projecting future interest and penalty calculations. It's basically showing you what you would owe if your account remains in its current status until that date. The reason these dates keep changing (like from 9/18/2023 to July 8th) is because the system automatically updates these projections on a regular basis - sometimes weekly or even more frequently. It's not indicating any actual activity or problems with your return, just the computer doing background calculations to keep the numbers current. Since you're still well within that 180-day window they gave you (ending in October), these are just hypothetical projections. The real things to watch for on your transcript are actual transaction codes like "Return Filed," "Processing Date," or "Refund Issued" - those show genuine account activity. I know checking weekly and seeing these constant date changes is anxiety-inducing, but try not to read too much into these shifting interest projection dates. Your October timeline is still valid, and these updates are just the system's way of maintaining current calculations. Focus on looking for actual processing codes rather than those projected penalty dates - that's where you'll see real movement when your return finally gets processed!