Just a heads up - I had this exact issue a few years ago and when I went to get my documents back, they tried to charge me a "document preparation fee" of like $50. I refused to pay it and eventually got my stuff back, but be prepared for them to try something like that. Know your rights - they cannot legally keep your original documents regardless of any fees they claim you owe. Stand your ground if they try to charge you anything.

Hey Nia! I went through almost the exact same situation last month. H&R Block quoted me $275 for what should have been a pretty straightforward return and I was like "absolutely not!" I called the office the next day and politely told them I decided to go elsewhere and needed my documents back. The person on the phone was actually really nice about it and had everything ready when I came in. No hassle, no fees, got all my original W2s and 1099s back within 10 minutes. Ended up using FreeTaxUSA online and paid like $15 total. Got the same refund amount that H&R Block calculated but saved myself over $250. Sometimes these brick-and-mortar places are just way overpriced for basic returns. Don't let them pressure you into paying if you're not comfortable with the price. Your documents are yours and they have to give them back, period.

Influencer here! Don't panic, but definitely start tracking everything. I use a simple spreadsheet with: - Product name - Estimated retail value - Date received - Company name - What content I created for it At the end of the year, add it all up. If it's substantial, you'll need to report it. The companies likely won't send 1099s for products, so the responsibility falls on you. Also, start tracking EXPENSES related to content creation! Your phone, any lighting equipment, props, percentage of your living space used for filming, etc. These can offset the income from the products.

As someone who just went through their first tax season with brand ambassador income, I want to emphasize how important it is to start organizing NOW rather than scrambling in March like I did! One thing that caught me off guard was that some of the smaller beauty brands I worked with didn't have clear systems for tracking what they sent me. I ended up having to go back through months of DMs and emails to piece together what products I received and when. Also, don't forget about affiliate commission income if you're using discount codes or referral links - that's separate taxable income on top of the product values. I had to dig through multiple affiliate dashboards to get those numbers. The good news is that once you get into a routine of tracking everything monthly, it's really not that bad. Just don't put it off thinking "I'll figure it out later" because you definitely won't remember the details of every PR package you received six months ago!

If the IRS is reviewing your tax return, it's not uncommon for it to take the full 60 days they often request. The review process is a standard part of the IRS's system for ensuring the accuracy of returns and compliance with tax laws. It can be triggered for various reasons, such as random selection, mismatched information, or incomplete documentation. Regarding the codes on your transcript: Code 766 with a date of "4/15/24" next to it typically refers to a credit that is applied to your account. This might be related to withholding, estimated tax payments, or refundable credits like the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC). The date "4/15/24" is likely the date the credit is recognized by the system, which aligns with the tax filing deadline for most individuals. It's important to note that this date is not necessarily when you will receive your refund, especially if your account is under review. The fact that your taxes were approved on "2/24/24" but are still under review suggests that the IRS may have found an issue that requires further verification or documentation. During the review process, the IRS may hold off on issuing your refund. Even if a credit is noted on your account for 4/15/24, if the review is not completed or there is another issue, the actual refund might be delayed beyond that date. If you're waiting for the completion of a review, the IRS typically contacts taxpayers if additional information is needed. If the 60 days have passed and you haven't heard anything, or if you are approaching the end of the 60-day period, it would be reasonable to contact the IRS for an update on the status of your review. It’s also a good practice to keep checking your transcript for updates, such as the appearance of code 846, which indicates a refund has been issued. I made a video about calling IRS transcript line here: https://youtu.be/UiAegRQ2Is8

I'm in a similar situation - been waiting since early February and it's so frustrating! The 60-day timeline seems to be pretty standard this year from what I've been reading. Your code 766 with the 4/15/24 date is interesting - that's typically when credits get applied to your account, but like others mentioned, it doesn't always mean that's your refund date if you're still under review. I've been checking my transcript obsessively and noticed that the IRS seems to be taking longer with reviews in 2024. Have you received any correspondence from them asking for additional documentation? Sometimes they'll request more info during the review process which can extend the timeline even further. Hang in there - I know the waiting is brutal!

Has anyone used a payroll service for their babysitter? My accountant is saying I need to do quarterly filings and it sounds like a nightmare for someone who just watches my kid twice a week.

I went through this exact situation last year! Just to add to what others have said - the IRS has a specific threshold for household employees. If you pay your babysitter $2,600 or more in 2025 (it increases slightly each year), then you definitely need to treat them as an employee and handle payroll taxes. At $150 every two weeks, you'd hit about $3,900 for the year, so you'd be over that threshold. The good news is that even with proper employee classification, you can still claim the Child and Dependent Care Credit - you just need their SSN and address on Form 2441. One tip that saved me a headache: start keeping detailed records NOW of when she works and how much you pay. The IRS wants to see that you're treating this seriously from the beginning, not scrambling to create documentation later. A simple spreadsheet with dates, hours, and payments works fine.

Has anyone used TurboTax to handle reporting their kids' investment income? I'm implementing this strategy but worried about how to report it correctly.

This is a solid strategy that I've actually implemented with my own kids' accounts. One thing I'd add to the excellent advice already given - consider timing these sales strategically around the calendar year. Since you're dealing with such small amounts, you have flexibility to spread the gains across multiple tax years if needed. For example, if one of your kids has a particularly good year in the market and the gains would push close to that $1,250 threshold, you could sell half in December and half in January to split it across two tax years. Also, don't forget about dividend reinvestment - those dividends count as income too, so factor them into your annual calculations. Most S&P 500 index funds have relatively low dividend yields, but it's still worth tracking. The beauty of starting this early is that you're teaching your kids about both investing AND tax strategy. When they're older, they'll understand the value of tax-loss harvesting and basis management because they've seen it in action.