


Ask the community...
This extension is such a relief! I was scrambling to get everything organized for my small business taxes - between all the receipts, mileage logs, and client payments, April 15th was looking impossible. The extra month gives me time to actually review everything properly instead of rushing and potentially missing deductions. Quick question for anyone who knows - does this May 17th deadline also apply to quarterly estimated tax payments for Q1 2025, or is that still due April 15th? I've been making quarterly payments for my freelance work but want to make sure I don't miss that deadline while focusing on getting my 2024 return filed.
Hey Norah! Just wanted to jump in here as someone who's also dealing with quarterly payments. From what I understand, the Q1 2025 estimated tax payment is still due on April 15th - that deadline hasn't changed with this extension. The May 17th date only applies to filing your 2024 tax return and paying any balance due for 2024. So you'll want to make sure you get your Q1 2025 estimated payment in by April 15th to avoid any penalties, but you have until May 17th to file your actual 2024 return. It's a bit confusing having two different deadlines so close together! I'm in the same boat with my consulting income - trying to juggle getting the quarterly payment ready while also organizing all my 2024 documents for filing.
This is such welcome news! As someone who's been putting off organizing my tax documents (guilty as charged), this extension feels like a lifesaver. I've been dreading dealing with the crypto transactions I made last year - trying to figure out cost basis and all those different trades has been overwhelming. The extra month will let me actually sit down and go through everything methodically instead of just throwing numbers together at the last minute. I'm also relieved to hear that the payment deadline is extended too, not just the filing deadline. Last year I had to scramble to come up with the money I owed by April 15th, so having until May 17th for both filing AND payment takes a lot of pressure off. Does anyone know if this extension affects state taxes too? I know some states follow federal deadlines automatically but others don't. I'm in California and want to make sure I'm not missing anything there.
Has anyone actually had the IRS question their return over this specific issue? I have the same problem with my W-2 but I'm wondering if it's worth the hassle of getting a corrected form if the IRS doesn't typically flag this.
Yes, this can definitely trigger questions. I've seen cases where returns were flagged specifically because Box 10 exceeded the dependent care limit. The IRS automated matching system catches these discrepancies. While not everyone gets questioned, why take the risk? A corrected W-2 is your employer's responsibility. If they resist, mention that incorrect information reporting can subject them to penalties under IRC Section 6722. Most employers will correct the form once they understand their legal obligation.
This is exactly why proper W-2 reporting is so important! I work in tax preparation and see this mistake frequently. Your employer definitely needs to issue a corrected W-2 because the IRS computers are programmed to flag dependent care FSA amounts over $5,000 in Box 10. The transportation benefits should have been handled completely separately - they reduce your taxable wages in Box 1 but don't belong in Box 10 at all. When you contact HR again, you can reference IRS Publication 15-B which clearly states that qualified transportation fringe benefits are reported differently than dependent care assistance. If you're filing soon and can't wait for the correction, you could file with Form 8862 attached explaining the employer error, but getting the corrected W-2 is definitely the cleaner approach. Don't let them tell you it "doesn't matter" - it absolutely does for IRS matching purposes.
Thank you for the detailed explanation! This really helps clarify why getting the corrected W-2 is so important. I had no idea about Form 8862 as a backup option if my employer drags their feet on the correction. Quick question - when you mention IRS Publication 15-B, is that something I should print out and bring to HR to help explain why they need to fix this? I'm worried they might push back again since they seemed pretty dismissive when I first contacted them about it. Also, do you know roughly how long employers typically have to issue a corrected W-2 once they acknowledge the error? I'm hoping to file my return soon but want to give them a reasonable chance to fix it first.
Am I the only one who thinks it's absolutely ridiculous that Robinhood references boxes that don't exist on their actual forms?? Every year I go through this same confusion. Why can't they just format their 1099bs like everyone else??? Or at least include a guide that matches THEIR form instead of some standard form they don't actually use!
I completely understand your frustration with the Robinhood 1099-B format! I went through this exact same issue this year and it drove me crazy too. After digging through everything, I finally figured out that what they call "box 12" is actually the "Basis Reported to IRS" information that appears in the transaction details section as a Y/N column. The key thing to understand is that Robinhood consolidates everything into their own format instead of using the traditional 1099-B layout with numbered boxes. When tax software or instructions reference "box 12," they're asking whether your cost basis was reported to the IRS - which you can find by looking at that Y/N indicator column in your transaction details. If you see mostly "Y" entries, it means Robinhood reported your cost basis to the IRS and you can use their numbers directly on Schedule D. Just make sure to also account for any wash sale adjustments that are shown in another column. Hope this helps clear up the confusion!
Thank you so much for this clear explanation! This is exactly what I needed to hear. I was getting so frustrated trying to find a literal "box 12" on my Robinhood form. Now I understand it's just asking about the basis reporting status. I can see the Y/N column you're talking about in my transaction details - most of mine show "Y" so I should be good to go. Really appreciate you taking the time to break this down in a way that actually makes sense!
Something nobody mentioned - check if any of those investments could be considered qualified education expenses in the coming year. If your daughter is starting college, you might be able to time selling some investments with paying tuition and have them count toward education tax benefits like the American Opportunity Credit.
That's not quite right. The capital gains themselves would still be taxable. You can't directly use appreciated securities for qualified education expenses without triggering capital gains. You'd need to sell the investments, pay any applicable capital gains tax, and then use the proceeds for education expenses.
One thing to consider that might help with timing - if your daughter will be 18 during 2025 and truly providing more than half of her own support through work/internships, you could potentially avoid kiddie tax entirely by waiting. But be careful about the "more than half support" test - it includes tuition, room, board, everything. Also, don't forget about gift tax implications if you're funding her investment account. The annual exclusion is $18,000 for 2024, but if this account has grown from gifts over the years, make sure you're tracking that properly. Another strategy: if she has any investments that are currently at a loss, consider harvesting those losses this year to offset some of the gains. Even though she's subject to kiddie tax, capital losses can still offset capital gains dollar-for-dollar before the kiddie tax calculation even comes into play.
Great point about tax loss harvesting! I hadn't thought about that strategy. Since my daughter's account has grown significantly over the years, there are probably some individual positions that are at a loss even though the overall account is up. Would those losses offset the gains before the kiddie tax calculation kicks in, or does the kiddie tax apply to the gross gains regardless of any losses in the same year? Also, regarding the gift tax tracking - we've been contributing about $12,000 per year to her account since she was young, so we should be well under the annual exclusion limits. But should we be keeping formal records of these contributions in case it ever comes up?
Ella Lewis
I've been through this exact situation multiple times ordering from Amazon US to North Macedonia! The $0 tax display is definitely confusing at first, but as others mentioned, it's because Amazon doesn't collect Macedonian customs fees. For your $170 order, here's what you can realistically expect: - 18% VAT on the full value = ~$30.60 - Import duty (varies by product, usually 5-10% for electronics) = ~$8.50-$17 - Courier handling fee = ā¬10-15 (about $10-16) So total additional costs will likely be around $50-65 on top of your $170 purchase. One thing to watch out for: make sure your items are properly categorized. I once had a phone case classified as "telecommunications equipment" with a much higher duty rate than it should have been. If something seems off with your customs bill, don't be afraid to question it - sometimes items get miscategorized and you end up paying more than necessary. Also, keep all your Amazon receipts and order confirmations. Customs may ask for proof of purchase value, and having the documentation ready speeds up the process significantly.
0 coins
Lilah Brooks
ā¢This is super helpful, thanks for the detailed breakdown! I had no idea about items potentially being miscategorized - that's definitely something I'll keep in mind. Quick question: when you say "question it" if the customs bill seems wrong, who exactly do you contact? Is it the courier company or the customs authority directly?
0 coins
Carmen Vega
ā¢Great question! Usually you'd start with the courier company (DHL, FedEx, etc.) since they're the ones who processed the customs paperwork and presented you with the bill. They have direct contact with customs and can often resolve classification issues more quickly than if you tried to contact customs directly. When I had my phone case issue, I called DHL with my tracking number and explained that the item was miscategorized. They were able to review the customs declaration and resubmit it with the correct product code. The whole process took about 2-3 business days and I got a refund for the difference. If the courier can't help or if you suspect there's a bigger issue, then you can escalate to the customs authority directly. But in most cases, the courier company is your best first point of contact since they handle the paperwork side of things.
0 coins
Asher Levin
Just wanted to add my experience as someone who regularly orders tech stuff from Amazon US to Macedonia. The advice here about expecting 18% VAT plus import duties is spot on - I typically budget an extra 25-30% on top of the purchase price to account for all fees. One tip that might help: if you're ordering multiple items, consider whether it makes sense to split them across separate orders. Sometimes keeping individual shipments under certain value thresholds can result in lower duty rates, though you'll pay multiple shipping and handling fees. It's worth calculating both scenarios. Also, I've found that DHL and FedEx are generally more reliable for international shipments from the US, even though they're pricier than standard shipping. They handle customs clearance more efficiently and their tracking is much better. With regular mail, packages sometimes get stuck in customs limbo for weeks without any updates. The tools mentioned like taxr.ai are definitely worth checking out - having a realistic estimate upfront helps avoid sticker shock when the package arrives!
0 coins
Emily Sanjay
ā¢This is really valuable advice about splitting orders! I never thought about that strategy. Do you have a rough idea of what those value thresholds are for Macedonia? Like, is there a sweet spot where you'd definitely want to split a larger order into smaller shipments? Also curious about your experience with DHL vs FedEx - have you noticed any significant differences in how they handle customs or their fees?
0 coins