Has anyone actually filed a 2020 return recently using TurboTax or other tax software? Do they still support returns from that tax year or do you have to file paper forms?

Adding to what others have said about the May 17, 2024 deadline - I want to emphasize that this is a hard cutoff date. The IRS doesn't make exceptions, even if you file just one day late. I learned this the hard way with an old return from 2018 where I missed the deadline by literally 3 days and lost out on a $800 refund. Also, make sure you have all your documents ready before you start filing. You'll need your 2020 W-2s, any 1099 forms, receipts for deductions, and possibly your prior year return for reference. If you're missing any employer documents, you can request wage transcripts from the IRS, but that takes time you might not have given how close the deadline is. One more tip - if you do file electronically, make sure to save confirmation that it was submitted before the deadline, just in case there are any questions later. Good luck getting your refund!

I'm going through the exact same thing! DDD of 3/15 with Wells Fargo and still nothing. Called Wells this morning and they said no pending deposits on their end either. The rep mentioned that sometimes there can be delays if it's your first time using that account for tax refunds - they might put an extra hold on it for verification. I'm planning to check my transcript tonight to make sure the DDD is still accurate and there aren't any codes I missed. If nothing shows up by tomorrow I'll try the early morning IRS call strategy someone mentioned above. This whole process is so nerve-wracking when you're counting on that money! Keep us posted if yours comes through - sounds like there are several of us Wells Fargo users in the same boat right now.

I'm in the exact same situation with Wells Fargo! DDD was 3/15 and it's now day 5 with nothing. Called Wells yesterday and they said no pending deposits either. This is also my first year using this account for tax refunds. What's really frustrating is that I see some people saying Wells usually posts refunds just 1 day after DDD, but clearly that's not happening for all of us. I'm wondering if there's something specific going on with Wells Fargo's system or if the IRS is having broader issues this year. I checked my transcript last night and the DDD is still showing as 3/15 with no error codes, so at least that part looks normal. Going to try calling the IRS first thing tomorrow morning when they open - fingers crossed I can actually get through to someone who can tell me what's happening with the deposit. Really hoping we all see our refunds soon! This limbo is killing me when I've got bills due next week.

The IRS systems r so broken its actually hilarious. Why cant they just let us add forms after submission like normal people 🤮

This happened to me two years ago! The rejection came back in about 36 hours, and then I had to wait another 3 weeks for processing after resubmitting with the correct forms. Definitely frustrating, but at least you caught it early. Make sure your preparer double-checks everything before resubmitting - you don't want to go through this twice!

Something else to consider - depending on how many platforms you're using, you might get a bunch of 1099-MISC or 1099-K forms, and they often don't accurately reflect your actual gambling profit since they don't account for losses. I used 14 different sportsbooks last year, and the 1099s showed over $120k in "income" even though my actual profit was only about $28k. Make sure your personal records are super detailed so you can prove your actual net winnings if audited. The platforms aren't coordinating with each other, so each one reports gross winnings without considering your losses elsewhere.

Great question about the quarterly taxes! I went through this exact situation last year and can share what I learned. The key thing is that if you expect to owe $1,000+ in taxes when you file, you should make quarterly payments to avoid penalties. For your $40k in gambling profits, you're definitely going to owe more than $1,000 (probably around $10k-15k depending on your tax bracket and other income). The quarterly due dates are April 15, June 15, September 15, and January 15 of the following year. Since your gambling income fluctuates, I'd recommend using Form 1040ES to calculate your estimated payments. You can either make equal payments each quarter based on your projected annual income, or use the annualized income method if your earnings are really uneven throughout the year. One strategy that worked for me was to set aside about 25-30% of my gambling profits in a separate savings account specifically for taxes. That way I wasn't scrambling to find the money when quarterly payments were due. You can make payments online through the IRS Direct Pay system or EFTPS. The penalty for underpayment isn't huge, but it's definitely avoidable with some planning. Better to pay a little extra throughout the year than get surprised with penalties next April!

I'm a property manager (not yours obviously lol) and I can tell you we always request W9s for any payment over $600, even when it's not taxable income. It's just company policy for record-keeping and because our accounting system requires it. Our legal team makes us do it even when we know the payment won't be reported as income.

I'm going through something very similar right now! My landlord had to reimburse me for a busted water heater that left me without hot water for 3 weeks. They also asked for a W9 before cutting the check, which had me worried. After reading through all these responses, I feel much better about it. The key thing I'm taking away is that the W9 request itself doesn't mean it's taxable income - it's just their standard procedure for payments over a certain amount. I'm definitely going to keep detailed records of everything like Miguel suggested, and make sure any documentation clearly states it's a "rent reduction" rather than compensation for inconvenience. It sounds like the specific wording really matters for tax purposes. Thanks everyone for sharing your experiences - this is exactly the kind of real-world advice that's hard to find elsewhere!