I found that the "Where's My Refund" tool on IRS.gov sometimes shows a message about offsets when they occur. It's worth checking there too. The IRS2Go app sometimes shows this info as well. I was shocked at how many different places I had to check to piece together what happened to my refund last year! The system definitely isn't designed to make this easy to understand.

As a military family going through PCS, I'd strongly recommend checking the Treasury Offset Program immediately at 800-304-3107 rather than waiting. Military moves have tight timelines and you need to know exactly what funds you'll have available. Also, since you mentioned you're military, be aware that the Servicemembers Civil Relief Act (SCRA) provides some protections against certain types of debt collection, though it doesn't prevent all offsets. Your base legal assistance office can clarify which debts might still be subject to offset even with SCRA protections. Better to know now than discover a surprise offset when you need those funds for your move!

does anyon know what happens if i put the wrong prior year AGI when filing? i think i miht have put my current year income instead of 0 last time i filed (which was my first time) and now im worried my return will get rejected??

Just to clarify the confusion here - you absolutely DO need to file taxes for your first year of working if you meet the income requirements! Don't wait until your second year. Here's the timeline: If you started working in January 2024, you'll file your 2024 tax return by April 15, 2025. Your AGI for that return will be whatever you earned in 2024 (minus any adjustments like student loan interest, etc.) - it won't be zero if you had income. The "prior year AGI" confusion comes from the e-filing verification process. When you file electronically, the system might ask for your prior year AGI to verify your identity. Since you've never filed before, you would enter 0 for that verification question only. Think of it this way: Your current year AGI = your actual income minus adjustments. Prior year AGI for verification = 0 if you've never filed before. Two completely different things!

I went through this exact same decision last year for my freelance consulting business! Here's what I learned from actually using these systems: The bundled TurboTax with QuickBooks Self-Employed is definitely more limited than standalone Home & Business. If you think you might ever need to handle rental properties, multiple business types, or complex deductions, go with Home & Business. For your situation with sporadic income and lots of expenses, I'd actually lean toward Wave + TurboTax Home & Business. Here's why: Wave's expense categorization is really solid, and since you're already using a receipt app, you can easily import those into Wave. The manual transfer to TurboTax at year-end isn't that painful when you only have a few transactions per month. The QuickBooks integration is nice, but you're paying $15-25/month for convenience you might not need. That's $180-300 annually vs. Wave (free) + Home & Business (~$120). For someone just starting out with infrequent transactions, that savings adds up. One tip: Whatever you choose, set up your expense categories early to match what you'll need for Schedule C. This makes tax time so much smoother regardless of which software combo you use!

I've been through this exact decision process recently for my consulting business! After testing both approaches, here's what I discovered: The key insight that helped me decide was understanding my actual usage patterns. Like you, I thought I'd barely use QuickBooks most months, but I found the automatic bank connection and transaction categorization actually saved me hours during busy periods when I'd otherwise let receipts pile up. However, given your specific situation - sporadic income, mainly check payments, and strong receipt tracking habits - Wave + TurboTax Home & Business is probably your best bet. Here's why: 1. You're already organized with receipt management, so you won't benefit as much from QuickBooks' automation 2. With only a few transactions per year, the manual data entry isn't burdensome 3. The cost savings ($180+ annually) is significant for a starting business 4. Home & Business gives you room to grow if you later form an LLC One thing to consider: If you do go the QuickBooks route temporarily, make sure to export your data AND take screenshots of your dashboard/reports before canceling. The export files don't capture everything, and having visual references can be helpful later. Also, whichever path you choose, I'd recommend doing a "practice run" with your current year's data before tax season hits. It'll help you identify any gaps in your process early!

Make sure u request the extension BEFORE the deadline!!!! I messed this up last year thinking I could file the extension a few days late and got hit with late fees even tho my final return was filed in september. The extension itself has to be filed by tax day or ur screwed

Just wanted to add something important that I learned the hard way - when you're estimating your tax liability for the extension payment, make sure you account for self-employment tax if your K-1 shows you're actively involved in the business. Since you mentioned you're listed as a General Partner/LLC Member Manager, you might owe SE tax on your share of the profits, not just regular income tax. The SE tax is 15.3% on top of your regular income tax, so it can add up even on that $2,200. Last year I forgot about this part when estimating my extension payment and ended up owing penalties because I underpaid. Better to overestimate and get a refund than deal with underpayment penalties and interest! Also, definitely file that Form 4868 electronically like others mentioned - you'll get instant confirmation and it's much more reliable than mail during busy season.

Has anyone here actually LOST money despite using a relocation company for their home sale? I'm concerned because my house value has dropped about 5% since I bought it 2 years ago. Will the relocation company offer me fair market value or am I going to take a bath on this?

Great question! I went through a similar relocation buyout program about 18 months ago and it was actually quite beneficial tax-wise. One key thing to understand is that the relocation company purchase often allows you to avoid the typical selling costs (realtor commissions, staging, repairs, etc.) that would normally reduce your net proceeds from a sale. The tax treatment depends on how your employer structures the program. In many cases, the relocation company will purchase your home at fair market value (based on professional appraisals), and any difference between what you paid and what they pay you is still subject to the normal capital gains rules. However, the additional benefits they provide - like covering closing costs, temporary housing, moving expenses - may be treated as non-taxable relocation benefits up to certain limits. Make sure to ask your HR department for documentation on exactly how each component will be reported on your W-2. Some portions might be taxable compensation while others qualify as tax-free moving expense reimbursements. The key is getting clarity upfront so you can plan accordingly!