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Filed on 2/4 and got mine this morning! Took exactly 4 weeks to the day. Used direct deposit with Arvest Bank here in Broken Arrow. Pretty standard return - just W-2 and took the standard deduction. I was starting to get anxious since I've been seeing all the posts about delays, but it finally came through. For anyone still waiting, it seems like they really are processing them, just much slower than usual. Hang in there! š
That's great news @Mei Liu! Congrats on finally getting yours! 4 weeks seems to be the sweet spot this year. I'm still waiting on mine from early February filing, but your post gives me hope that they're really working through the backlog. Arvest seems to be pretty quick with processing once the state releases the funds too. Thanks for sharing the good news - we all need some encouragement right now! š
Filed 2/6 here in Oklahoma City and still waiting on week 4. Using Chase for direct deposit. It's reassuring to see people are actually getting their refunds, even if it's taking longer than usual. The inconsistency is definitely frustrating though - seems like it's just a waiting game at this point. Really hoping the new fraud detection systems speed up once they work out the kinks, but for now we're all just stuck in limbo. Thanks everyone for sharing their timelines, it helps to know we're not alone in this! šŖ
11 Question about Nanny taxes in general - we just hired our first nanny and I'm trying to figure out all the tax implications. Do most people use a payroll service or DIY the taxes? And how does the mileage reimbursement get reported (or not reported) on end-of-year tax forms?
14 Most families I work with use a household employee payroll service like HomePay or SurePayroll - they handle all the tax filings, direct deposits, and can properly categorize reimbursements vs. wages. DIY is possible but very error-prone. Properly documented mileage reimbursements (at or below the IRS rate) don't get reported as income on a W-2 or anywhere else - they're non-taxable reimbursements when done through an accountable plan. That's why documentation is critical - without it, the IRS could reclassify those payments as additional wages subject to taxes.
Just wanted to add one more perspective as a tax professional who works with many families employing nannies. The key points mentioned here are spot-on, but I'd emphasize a few additional considerations: 1) Make sure your nanny agreement explicitly states that mileage will be reimbursed at the IRS rate for work-related driving. This protects both parties and sets clear expectations. 2) Consider requiring pre-approval for longer trips (like day trips to the zoo) to avoid surprise large reimbursements. 3) Keep all mileage documentation for at least 3 years in case of an IRS audit - this includes the logs, receipts, and any app records mentioned. 4) Remember that if your nanny occasionally uses your family car for work trips, those miles obviously wouldn't be reimbursed since she's not using her personal vehicle. The automated tracking solutions mentioned by other parents sound helpful for busy families, but a simple notebook system works just fine too if you prefer to keep things low-tech. The most important thing is consistency and proper documentation, regardless of the method you choose.
One more piece of advice - make sure to keep copies of EVERYTHING you send to the IRS, and send your response via certified mail with return receipt requested so you have proof of when they received it. Also, if the January 18th deadline is too tight, you can call and request a 30-day extension, which they usually grant. That would give you more time to get the proper documentation from the restaurant group.
This is important! I'd also suggest faxing a copy if possible in addition to mailing. The IRS still uses fax and sometimes processes those faster than mail. You can get a free online fax service to send it.
I've been through a very similar situation with a payment processor issue, and I want to emphasize something that hasn't been mentioned yet - document EVERYTHING about your employment relationship with the restaurant group. In addition to your W-2, gather any emails, text messages, or other communications that show: 1) You were asked to set up the Square account as part of your job duties 2) You never had control over the funds (they went directly to business accounts) 3) You were acting as an employee, not an independent contractor Also, since the restaurant group was sold to a parent company, try to get documentation of that sale/transfer. This can help establish the business relationship timeline and show the IRS that this was clearly a business operation, not your personal income. If the current accountant doesn't follow through, consider reaching out directly to the parent company's finance department. They may be more responsive since this could affect their tax compliance too. One last tip - when you write your response letter, be very specific about dates, amounts, and the business purpose of each transaction. The more detail you can provide about how this was clearly business income that was misreported, the stronger your case will be. Good luck, and don't let this stress you out too much - these payment processor mix-ups are incredibly common and the IRS has seen it all before!
This is really solid advice! I'm dealing with a similar CP2000 issue right now and hadn't thought about documenting the employment relationship so thoroughly. One thing I'd add - if you have any old bank statements showing your regular paycheck deposits from the restaurant group during that time period, include those too. It helps establish that you were clearly receiving W-2 wages and not 1099 contractor payments, which strengthens the case that you weren't operating as an independent business. Also, @Lucas Kowalski, since you mentioned the restaurant group had multiple locations with different tax IDs, try to get a list of all those entity names and EINs if possible. The IRS might need that information to properly reassign the income to the correct businesses. The parent company angle is smart - they definitely don't want tax compliance issues from this acquisition, so they should be motivated to help clear this up quickly.
Just wanted to chime in about the triathlon training aspect since that's important to you. I'm an EA with my own practice and also train for marathons. The key is setting boundaries with clients. I made it clear from the beginning that I don't work weekends (except maybe a few during peak tax season) and I block off specific training times in my calendar that are non-negotiable. You absolutely can maintain athletic pursuits while being an EA - just structure your practice intentionally!
As someone who's been working in tax preparation for about 3 years now, I can definitely echo what others have said about the EA certification being very manageable while maintaining work-life balance. I passed all three parts in about 8 months while working full-time and training for a half-marathon. One thing I'd add is that your background as a financial advisor will actually be really helpful for the EA exam, especially the individual tax section. You already understand investment products, retirement accounts, and capital gains/losses, which gives you a solid foundation. The H&R Block program is a good start, but I'd recommend supplementing with either Gleim or PassKey EA review materials. The exam tests much deeper knowledge than basic tax prep. For the triathlon training aspect - I actually found that having a structured study schedule helped me stay disciplined with both my training and exam prep. I'd study early mornings before training sessions, which kept me focused and efficient with both activities. One practical tip: consider taking the exams in order (Part 1: Individuals, Part 2: Businesses, Part 3: Representation) rather than all at once. This spreads out the study load and lets you apply what you're learning in real client situations if you're already doing some tax work.
This is really encouraging to hear! I'm actually in a similar situation - been in financial services for about 18 months and looking at the EA route. Your point about the financial advisor background being helpful is reassuring. I've been worried that I don't have enough "traditional" tax knowledge, but you're right that I already understand a lot of the investment side of things. The idea of taking the exams in order rather than all at once is smart - I hadn't considered that approach. Did you find that spreading them out helped you retain the information better, or was it more about managing the workload? And how long did you wait between each part? Also curious about your study schedule - what time of day did you find most effective for studying? I'm naturally more of an evening person but I'm wondering if I should try to shift to morning study sessions like you did.
James Johnson
Has anyone tried just structuring this as a gift instead of a loan? I know there are annual limits but doesn't each person get a lifetime exemption that's pretty high?
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Sophia Rodriguez
ā¢Yes, there's a lifetime gift tax exemption (over $12 million per person in 2023), but for non-US citizens/residents giving to US persons, the rules get complicated. Foreign individuals can't use the full lifetime exemption - they're limited to the annual exclusion amount (around $17,000 per recipient). If your family members aren't US citizens/residents, the gift route could create a tax liability for them or reporting requirements you might not expect.
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GalaxyGlider
Just to add another perspective - don't forget about state tax implications too! Some states have different rules for reporting large cash transactions or loans, especially from foreign sources. In California, for example, they sometimes require additional documentation for large deposits that don't match your reported income, even if it's properly documented as a loan at the federal level. Also, since you mentioned your husband has an LLC, consider which entity should actually take the loan - personal vs business. If the LLC is buying the investment property, having the loan go directly to the LLC might simplify things, but you'll want to make sure the foreign relatives are comfortable lending to a business entity rather than individuals. The rental income and loan repayment structure could also affect your business vs personal tax situation depending on how you set it up.
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Yuki Sato
ā¢Great point about the state implications! I hadn't even considered that different states might have their own reporting requirements. For someone like me who's new to dealing with international family loans, this is exactly the kind of detail that could trip you up. The LLC vs personal loan structure is also really interesting - I'm curious if there are any advantages to having the business entity take the loan directly? Would that potentially simplify the tax treatment of the rental income since it would all flow through the same entity? Also, @ad525049ee79, do you know if there's a way to research state-specific requirements easily, or is this something you really need a local tax professional for?
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