When I got a random TREAS 310 deposit as an international student, it turned out to be from incorrectly filling out my 8843 form. Did you file Form 8843 with your 2021 return? If not, the IRS might have adjusted your status.

I had a very similar experience as an international student! Got an unexpected IRS TREAS 310 deposit for around $1,200 last year and panicked thinking it was an error. After finally getting through to the IRS (took forever), they explained it was a correction related to tax treaty benefits from my home country that weren't properly applied to my scholarship income. The key thing I learned is that NRAs can receive legitimate refunds for various reasons - incorrect withholding rates, treaty benefits not applied, or processing corrections. The important part is verifying it's legitimate rather than assuming it's a mistake. Your $1,400 amount is suspicious because it matches the stimulus payment amount, but as others mentioned, there could be other explanations like scholarship withholding corrections or treaty adjustments. I'd definitely recommend calling the IRS to confirm - better to spend time on hold than worry about potential problems later. Also, keep all documentation of this payment and any conversations you have with the IRS. If it turns out to be legitimate, you'll want proof for future reference.

I know everyone's talking about the tax deduction part but don't forget about the BUSINESS side of this decision! If you wait till 2025 to buy equipment, you're delaying your ability to create content NOW that could be building your audience. My fitness channel grew for almost a year before I made my first dollar from coaching. That pre-revenue content was crucial for establishing credibility. Sometimes the business investment makes sense even if the tax deduction timing isn't perfect!

Great question! I'm in a similar boat with my consulting side hustle. One thing to consider is setting up your business entity (LLC or sole proprietorship) now even if you're not actively coaching yet. This can help establish that "business start date" for tax purposes. Also, document EVERYTHING - your business plan, market research, content creation timeline, etc. The IRS loves to see that you have a genuine profit motive and aren't just trying to write off personal gym equipment. If you can show you're seriously preparing to launch a legitimate business, purchasing equipment in advance becomes much more defensible. I'd also suggest talking to a tax professional about whether it makes sense to elect Section 179 expensing vs. regular depreciation for your equipment purchases. Depending on your total income from all sources, one approach might be significantly better than the other.

As someone who's been lurking in this community for a while but never posted, this thread convinced me to finally join the discussion! I'm a mortgage loan officer and I see this confusion ALL the time - both from borrowers and their tax preparers. The grandfathering rules are actually pretty straightforward once you understand them, but the Tax Cuts and Jobs Act created so much confusion that even seasoned CPAs sometimes get it wrong. I've started including a simple one-page explanation of the mortgage interest deduction rules with my refinance packages because of situations exactly like Sofia's. What really bothers me is when borrowers miss out on legitimate deductions because their tax preparer doesn't fully understand these rules. The difference between the $750K and $1M limit can be thousands of dollars in tax savings for people with larger mortgages. Sofia, definitely push back on your CPA with the specific Publication 936 references that Aaron mentioned. And for anyone else reading this - if you're refinancing a pre-2017 mortgage, make sure to discuss the grandfathering rules with your tax preparer BEFORE they file your return!

As a newcomer to this community, I have to say this thread has been incredibly educational! I'm currently going through a refinance on my 2016 mortgage and my lender mentioned something about "grandfathering" but didn't really explain what it meant for taxes. After reading everyone's experiences here, I'm definitely going to make sure my tax preparer understands these rules. It sounds like Sofia's situation could happen to anyone, and the difference in deductions could be significant for larger mortgages. One question for the group - should I be asking my mortgage lender for specific documentation about the grandfathering status when I close on my refinance? Or is it enough to just keep my original loan documents from 2016 along with the new refinance paperwork? Thanks to everyone who shared their knowledge and resources. This is exactly the kind of real-world guidance that's so hard to find elsewhere!

Does anyone know how long the IRS takes to process a corrected 941-X? I filed one 8 weeks ago to fix an ERTC overreporting issue and haven't heard anything back. Getting nervous...

I was in almost the exact same situation with my landscaping business last year - overreported ERTC on my 941-X by about $8,000 and got the refund before I realized my mistake. The anxiety was killing me! Here's what I learned: file the corrective 941-X as soon as possible, but make sure you're 100% accurate this time. I actually hired a CPA who specializes in payroll taxes to help me with the correction because I was terrified of making another error. The key is being very clear in Part 4 about what the original error was and showing you're voluntarily correcting it. One thing that helped my peace of mind - I called the IRS Practitioner Priority Service line (my CPA made the call) and they confirmed that voluntary corrections like this are viewed much more favorably than if they catch the error during an audit. The fact that you're proactively fixing this shows good faith compliance. Also, prepare to wait. My corrected 941-X took almost 5 months to process, but it was eventually accepted without any penalties beyond interest. The waiting is the worst part, but you're doing the right thing by fixing it promptly.

Has anyone actually found a tax form where self-employed people can claim sick days? I have TurboTax and don't see anything like this mentioned.

Just to add some clarity here - I went through this exact confusion last year when I started freelancing! The accountant was likely referring to the old FFCRA credits that ended, but there are still some things worth knowing as a self-employed person. While there's no federal "sick day" program currently, don't forget about these legitimate self-employment deductions that can help offset income loss when you're unable to work: - Health insurance premiums (huge deduction if you're not covered elsewhere) - HSA contributions if you have a qualifying high-deductible plan - Home office expenses (a portion of rent, utilities, etc.) - Professional development and training costs - Equipment and software purchases Also, some cities and counties have their own programs - worth checking your local government website. And definitely consider setting up a separate "sick fund" savings account where you put aside 5-10% of each payment for those inevitable down days. It's frustrating that we don't have the same safety net as W-2 employees, but building these habits early in your freelancing career will really pay off!