hey just so u know my cousin fell for something similar with a diffeent company. they took the "upfront fee" and then kept making excuses about why the loan relief wasnt coming through. eventually they ghosted him completely and he lost like $1200. these tax relief places are mostly scams imo.

This is definitely a scam - I've seen this exact pattern multiple times. Legitimate tax relief services don't operate this way, and the IRS has clear guidelines about how payments should be made (directly to them, not through third parties). A few red flags here: 1. Demanding upfront payment before any services are provided 2. The explanation about "partial taxes still owed" doesn't make sense in this context 3. SETC Pros isn't a recognized name in legitimate tax resolution If you genuinely need help with tax issues, start with the IRS's own resources. They offer payment plans, hardship programs, and even an Offer in Compromise program for qualifying taxpayers. You can access all of this information at IRS.gov or call their taxpayer assistance line directly. Don't send them any money - block their communications and consider reporting this to the FTC's fraud reporting website. These scammers often target people who are already struggling financially, which makes it even more predatory.

Has anyone used the Section 179 calculator on the IRS website? I'm trying to figure out my recapture but the worksheets are confusing af.

I'm dealing with a similar situation with my Tesla Model Y (also qualifies for Section 179 due to weight). One thing I learned from my CPA is that you need to track your business use percentage very carefully throughout the holding period. If your business use drops below 50% at any point after taking the Section 179 deduction, you'll trigger recapture even without selling the vehicle. This is especially important with trucks like the F150 Lightning since they're so versatile for both business and personal use. For your specific question about timing - there's no "safe harbor" period where recapture goes away completely. Even keeping it 10 years won't eliminate recapture if you sell for more than your adjusted basis (which will be very low after Section 179). The key is running the numbers on total tax benefit vs. recapture cost to see if it still makes sense financially.

Has anyone experienced a situation where their refund was split between different accounts? I'm wondering if perhaps your refund was partially directed to another account, similar to what happened with my spouse's return last year. The IRS accidentally split our refund based on some form we didn't even realize we had filled out.

I'm also waiting on my 2/26 DDD with Venmo and haven't received anything yet. From what I've researched, Venmo typically processes ACH deposits within 1-3 business days of the official deposit date, so we should see something by early next week if everything is on track. One thing I learned is that Venmo doesn't process deposits on weekends, so even though 2/26 was the DDD, the actual processing likely started on Monday 3/3. I'd give it until Wednesday 3/5 before getting worried. In the meantime, you might want to double-check that your routing and account numbers were entered correctly on your return - even a small typo can cause the deposit to bounce back to the IRS, which would delay everything significantly.

Don't forget about the retirement savers credit! If you put ANY money into an IRA or 401k, with your income level you'd qualify for a 50% credit on up to $2,000 contributed. Even if you haven't contributed yet, you can still open and fund an IRA for 2023 until the tax filing deadline!

This is exactly why understanding the difference between employee and contractor status is so important! Since you received a 1099-NEC, you're considered self-employed for tax purposes, which means you're responsible for both the employee AND employer portions of Social Security and Medicare taxes (that's the 15.3% self-employment tax everyone's mentioning). However, you have several good options to reduce or eliminate what you owe: 1. **Business deductions on Schedule C** - Any legitimate expenses for your internship (computer usage, internet, supplies, transportation, etc.) 2. **Education credits** - The American Opportunity Tax Credit could be huge for you as a college student 3. **Retirement savings credit** - As Emma mentioned, contributing to an IRA could give you a 50% credit at your income level 4. **Earned Income Tax Credit** - You might qualify for this as well The key is that while you can't avoid the self-employment tax entirely if you have net earnings over $400, these credits and deductions can significantly reduce your overall tax bill. Start with gathering documentation for any internship-related expenses and your 1098-T form from school. Those two things alone might solve your problem!

Venmo processes IRS deposits differently than regular payroll. Tax refunds typically post between 8pm-1am because they're batched separately from standard direct deposits. This is normal and doesn't indicate any problem with your refund. Just be aware that Venmo may also hold larger deposits for 1-3 business days for security purposes, especially if it's significantly larger than your usual deposit amounts. The IRS considers a deposit completed once they've sent it, even if Venmo hasn't made it available to you yet.

I've been using Venmo for tax refunds for 3 years now and can confirm the timing is totally different from regular payroll! My work deposits hit around 2am, but IRS refunds through Venmo consistently arrive between 10pm-12am. It's frustrating because you're expecting it all day and then BAM - it shows up right when you're getting ready for bed 😴 The good news is once it hits, it's immediately available (unlike some banks that make you wait until the next business day). Pro tip: turn on Venmo notifications so you don't have to keep checking manually!