Remember that gambling income is taxable even if you didn't get a W2G form. The IRS requires you to report ALL gambling winnings, even small amounts. Player cards at casinos can also track your activity.

The IRS gets copies of all W-2G forms that casinos issue for winnings over $1,200 (slots/bingo) or $5,000 (poker tournaments). Your transcript will definitely show these reported amounts even before you file your return. If you had $50k in wins, that's likely already in their system. Best to get your transcript now and see exactly what they have on file - you can request it free directly from IRS.gov. Don't risk penalties by underreporting what they already know about.

i used taxr.ai last month when i was going thru the exact same situation. turns out i had an offset i didnt know about (old state tax debt) that was taking part of my refund. the tool showed me exactly what was happening when the IRS wouldnt tell me anything. saved me weeks of confusion https://taxr.ai

I went through this exact same thing last year - TurboTax showing "refund arrived" while my bank account was still empty. Turns out there's usually a 1-3 business day lag between when the IRS actually sends the money and when it shows up in your account. Since your transcript shows the 846 code with 9/14 as the deposit date, you're probably just dealing with normal bank processing delays. Most banks don't process ACH transfers over weekends either, so that could explain the extra delay. I'd give it until Friday before getting worried. If it's still not there by then, definitely call your bank first to make sure they're not holding it for any reason, then contact the IRS if needed.

Just to add a caution - I tried to do this "catch up" thing last year and ended up getting audited. The IRS flagged it because the sudden large depreciation deduction looked suspicious. Make sure you have excellent records of when you bought the property, improvement costs, etc. My audit went fine because I had everything documented, but it was still super stressful. Whatever method you choose, have your paperwork in order!

I went through this exact situation with a duplex I own. Missed depreciation for 2019 and 2020, then panicked when I realized my mistake. Here's what I learned after consulting with a CPA: You have two main options: 1) Amend the prior years if you're still within the 3-year window, or 2) File Form 3115 for an accounting method change to catch up all at once in your current year return. The Form 3115 route ended up being way less hassle for me. Yes, it's more complex than a regular form, but it saved me from filing multiple amended returns. I claimed about $8,000 in missed depreciation all in one year through the Section 481(a) adjustment. One tip - when you do catch up (either method), spread out your documentation clearly. I created a simple spreadsheet showing the property purchase date, cost basis, improvements, and calculated what depreciation should have been claimed each year. This made everything crystal clear for my records and would help if the IRS ever questions it. Don't let this mistake stress you out too much - it's more common than you'd think!

Quick question - does anyone know if receiving payment to a foreign bank account changes anything about this situation? My understanding is that US tax obligations are based on residency/citizenship, not where the money is deposited. But I'm hoping there might be some exception I'm not aware of.

This is a really complex situation that touches on both immigration and tax law. From my experience helping clients navigate similar circumstances, the key issue is that your tax residency status and immigration status operate on different timelines and criteria. Since you're married to a US citizen and physically present in the US, you likely qualify as a tax resident under the substantial presence test, even before your green card is approved. This means signing a W-8BEN (which certifies you're NOT a US person for tax purposes) could create a contradiction with your actual tax obligations. The safer approach would be to: 1. Determine your current tax residency status based on your physical presence and filing status 2. Use the appropriate form (likely W-9 if you're a tax resident) 3. Ensure proper withholding occurs While unauthorized employment is generally forgiven for spouses of US citizens during adjustment of status, creating tax compliance issues could complicate things down the road. The IRS and USCIS do share information, and inconsistencies between your tax filings and immigration documents could raise questions. I'd strongly recommend getting professional guidance from someone who understands both the immigration and tax implications before proceeding. The short-term contract income isn't worth jeopardizing your adjustment of status or creating future tax problems.

Same exact situation here! Got the 570/971 combo on my transcript and was freaking out too. From what I've learned, the 570 is basically the IRS saying "hold up, we need to look at something" and the 971 means they're sending you a letter explaining what. The good news is that your refund amount should still be correct - it's just delayed while they verify whatever they need to verify. I got my letter about 2 weeks after the 971 date and it was just asking me to verify my identity online. Once I did that, my refund processed within 3 weeks. Check your mail religiously and respond to whatever they send you ASAP!

I see you're dealing with the classic 570/971 combination - I just went through this exact same situation a few months ago! The 570 code is essentially the IRS putting a temporary freeze on your refund while they conduct some type of review, and the 971 code means they've issued (or will issue) a notice explaining what they need from you. Based on your transcript, your math looks right - you should be getting a refund of $6,279 ($7,037 withholdings minus $1,658 tax liability). The review could be for identity verification, income verification, or just a random audit selection. Here's what I learned from my experience: watch your mail like a hawk for that CP letter (it should arrive within 2-3 weeks of the 971 date), respond immediately to whatever they're asking for, and keep checking your transcript weekly for updates. Once I submitted my requested documents, it took about 5 weeks for the 570 to reverse and my refund to process. It's stressful but most people do get their full refund - just with delays. Hang in there!