I'm in almost the exact same situation! Filed my joint return last week and used my individual Chime account. Now I'm seeing all these mixed experiences and getting nervous. For what it's worth, I called Chime customer service yesterday and they said they "generally accept tax refunds regardless of the filing status" but couldn't guarantee anything. The rep mentioned they evaluate each deposit individually. I'm keeping my fingers crossed, but if I had seen this thread earlier I probably would have gone with the paper check option. Will update if/when my refund comes through to add another data point for future filers!

Based on all these mixed experiences, it seems like Chime's acceptance really varies case by case. I've been using Chime for my individual returns for the past two years without issues, but this is my first year filing jointly with my spouse. Reading through everyone's experiences, I'm leaning toward just requesting a paper check to be safe. The potential 6-8 week delay if it gets rejected isn't worth the risk, especially since you mentioned needing the money for quarterly estimates. Better to wait a few extra days for a guaranteed paper check than potentially wait months for a reissued one after rejection. Thanks everyone for sharing your real experiences - this is exactly the kind of info you can't find in official FAQs!

One thing to remember is that if your non-refundable credits exceed your tax payable, you don't get to carry forward the unused portion (with a few exceptions like tuition credits). This is different from refundable credits like GST/HST credits that can actually generate a refund regardless of your tax owing. For example, if your tax owing is $5,800 but you have $7,000 in non-refundable credits, your tax is reduced to $0, but you "lose" the extra $1,200 in credits. This is why they're called "non-refundable" - they can't generate a refund by themselves.

Jst wanted to add that one of the most commonly overlooked things is that u should maximize ur RRSP contributions if u have room. This will lower ur net income which reduces the taxes owing BEFORE the non-refundable credits are applied! Double win!

Don't forget to check your state tax records too! This happened to me and the scammer filed fraudulent returns at both federal AND state levels. Each state has their own process for handling tax identity theft. Contact your state tax agency immediately. Also check if your health insurance information was compromised, since they might have used your identity for medical benefits too.

I'm so sorry this happened to you! Tax identity theft is unfortunately becoming more common, but you're handling it well by taking action quickly. In addition to all the excellent advice already shared, I'd recommend keeping detailed records of every phone call, form submission, and piece of correspondence related to this case. Create a dedicated folder (physical or digital) with dates, reference numbers, and notes from each interaction. Also, consider requesting your IRS transcripts online through the IRS website - this will show you exactly what returns were filed under your SSN and when. It can help you build a timeline of the fraud and provide concrete evidence when speaking with IRS agents. One thing that helped me when I dealt with a similar situation was setting up an IRS online account if you haven't already. This gives you direct access to your tax records and can alert you more quickly if suspicious activity happens in the future. The IP PIN you mentioned is definitely crucial - make sure to request it as soon as your case is resolved. Stay persistent but patient. The process is frustrating, but the IRS does eventually resolve these cases. Document everything and don't hesitate to escalate to the Taxpayer Advocate Service if you hit roadblocks.

Has anyone considered that the interest rates might change? The IRS adjusts these quarterly. If the Federal short-term rate drops, so will the overpayment interest rate. So even if this crazy scheme worked (which others have pointed out it doesn't), you'd have no guarantee of keeping that 7% rate for long.

As someone who works in financial compliance, I wanted to add that the IRS also has sophisticated data analytics that can easily identify patterns inconsistent with normal taxpayer behavior. They cross-reference your payment patterns with income reported on W-2s, 1099s, and previous returns. If you suddenly start making massive estimated payments that don't align with your reported income or business activity, it will trigger automated flags in their system. They can then demand documentation justifying these payments, and if you can't provide legitimate business or income reasons, they'll process an immediate refund - often within days rather than the normal processing time. The system is specifically designed to prevent exactly what you're thinking of doing. Your best bet for earning decent returns is still traditional investment vehicles like I-Bonds, CDs, or high-yield savings accounts that are actually meant for storing money.

Has anyone used the IRS Direct Pay system for their quarterly payments? I've heard horror stories about payments not being properly credited to accounts or applied to the wrong tax year. Trying to decide between that and EFTPS.

Great question! I went through this exact transition two years ago and the safe harbor rule was a lifesaver during that first year of uncertainty. One thing I'd add to the excellent advice already given - don't forget to consider your state estimated tax requirements too if you're in a state with income tax. Some states have their own safe harbor rules that might be different from federal, and you'll want to make sure you're covered on both fronts. Also, since you mentioned your income is likely to increase but uncertain, you might want to reassess after your second quarter payment. If your income ends up being significantly higher than expected, you can always increase your remaining quarterly payments to avoid a large balance due at filing time, even though the safe harbor protects you from penalties. The 110% safe harbor rule is definitely the way to go for your first year of self-employment - it takes so much stress out of the guessing game while you figure out your new income patterns. Once you have a full year of self-employment income under your belt, you'll have a much better sense of what to expect for the following year.