Protip: Print it out and use different colored highlighters for different codes. Makes it way easier to track whats happening

I feel your pain! When I first got mine I literally stared at it for like an hour wondering if it was written in code 😂 The IRS has a master file transcript guide on their website that breaks down what each code means, but honestly it's still pretty technical. Focus on the "Account Transcript" section first - that's where you'll see your refund status. Look for transaction code 846 with a date - that's when your refund was/will be issued!

Quick question - does anyone know if state taxes work the same way for multiple jobs? I'm interning in a different state than my university, so I'll have income from two different states this year.

Great discussion everyone! As someone who went through this exact situation two years ago, I'd definitely recommend checking the multiple jobs box on your W4 for the internship. Even though the jobs don't overlap timing-wise, both incomes will appear on your 2025 tax return and could push you into a higher bracket. One thing I learned the hard way - don't forget to update your W4 again when you go back to your campus job in the fall! Since your internship will be over by then, you'll want to remove the multiple jobs designation for your fall semester campus work to avoid over-withholding. Also, keep good records of all your pay stubs from both jobs throughout the year. It makes tax filing so much easier when you have everything organized. The slight over-withholding during summer is usually worth avoiding a surprise tax bill in April!

For what it's worth, you might want to double check with your HSA provider directly too. Last year my 1099-SA had box 3 blank, but when I called my provider, they said they could send a corrected one with the right box checked. Apparently they had the info but hadn't included it on the form. Might be worth a quick call to see if your provider just made a mistake.

One more important thing about HSAs that nobody mentioned - those receipts for your qualified medical expenses don't expire! If you paid $3,200 out of pocket but only reimbursed yourself $2,750 from your HSA, you can actually reimburse yourself that remaining $450 from your HSA anytime in the future - even years from now! It's one of the best features of HSAs.

Has anyone used the Weinberg or Zaritzky method for these calculations? I've heard those are more accurate for increasing payment CLATs than the standard IRS approach, especially when the grantor is under 60 and the payment increase rate exceeds 2%.

For anyone working through this calculation manually, I'd recommend setting up your spreadsheet with separate columns for: (1) Year, (2) Probability of survival to that year, (3) Payment amount for that year, (4) Present value factor using Section 7520 rate, and (5) Present value of expected payment. The key insight is that for each year X, you're calculating: [Survival Probability] × [Payment Amount] × [1/(1+Section 7520 rate)^X]. Your payment amount grows each year by your chosen escalation rate, so Year 2 payment = Year 1 × (1 + escalation rate), Year 3 = Year 1 × (1 + escalation rate)^2, etc. I found it helpful to extend the calculation out to at least age 100 for the grantor, even though the present values become tiny in later years. The sum of all these present values gives you the charitable lead interest, and subtracting that from your initial contribution gives you the remainder interest. One tip: double-check your mortality table - make sure you're using the correct table for the valuation date and that you're reading the survival probabilities correctly (some tables show death rates instead).

Idk if this helps but I got a letter from Pioneer (another IRS collection agency) last year. Called the IRS directly and found out I qualified for Currently Not Collectible status because of financial hardship. The collection agency never mentioned this was an option even though I told them I couldn't pay. So definitely talk to the IRS directly about ALL your options, not just the ones the collection agency tells you about.

This is really helpful information everyone is sharing! I'm in a similar situation with a late filing penalty for my LLC. One thing I wanted to add - when you call the IRS directly about penalty abatement, make sure you have all your documentation ready. They'll want to know the specific reason for the late filing and any supporting evidence. For health-related issues with your accountant, if you have any documentation of that (like medical records or communication showing the accountant was unavailable), it could strengthen your reasonable cause argument. The IRS is generally pretty understanding about situations beyond your control, especially if you have a good compliance history. Also, when you do call, be prepared to explain why this was a one-time occurrence and what steps you've taken to prevent it from happening again. They like to see that you're being proactive about future compliance.