I've been following this thread as I'm dealing with a similar situation with my grandmother's old stock certificates. Just wanted to add a couple of things that might help: If you're having trouble with AT&T's investor relations, you can also try contacting Computershare, which is AT&T's current transfer agent. They sometimes have access to historical records that go further back than what the company's investor relations department can easily access. Their number is 1-800-351-7221. Also, for anyone dealing with really old certificates where the cost basis is completely unknown, the IRS does allow you to use "zero basis" as a last resort - meaning you'd pay capital gains tax on the entire proceeds. It's not ideal, but it's better than making up numbers or spending hundreds on professional research services if the stock position isn't worth that much. One thing I learned the hard way: make sure to document everything you tried to find the original cost basis. Keep records of who you called, when you called them, and what they told you. If you ever get audited, the IRS appreciates seeing that you made a good faith effort to determine the correct basis rather than just guessing.

Great question about zero basis vs. reconstructed basis! If you can establish that the shares were purchased in December 1999 through dividend records on old tax returns, you should definitely reconstruct the basis using historical prices rather than using zero basis. The IRS prefers taxpayers to make reasonable efforts to determine actual basis. Most major public companies use transfer agents - it's not just telecoms. Companies like Microsoft use Computershare, Apple uses Computershare, Disney uses Broadridge, etc. The transfer agent handles the administrative side of stock ownership (transfers, splits, dividends) while the company focuses on operations. Here's the key thing about documentation: if you can prove the purchase timeframe through tax records showing dividends, then use that date to look up the historical stock price. Even if it's not the exact day, using the average price for that month or the closing price on the last trading day of December 1999 is completely reasonable and defensible. The zero basis option should really only be used when you have absolutely no way to determine when the stock was purchased or any reasonable estimate of value. Since you're dealing with a specific time period (December 1999), you're in much better shape than someone who inherited mystery certificates with no dates at all. Keep documenting your research process - it shows good faith effort to get the right numbers rather than just picking the option that saves the most taxes.

I'm in the exact same boat! My transcript shows my refund was mailed 4 days ago and I've already started that obsessive mailbox checking routine 😅 It's so reassuring to read everyone's experiences here - sounds like 7-10 business days is the norm. I had no idea about USPS Informed Delivery, definitely signing up for that ASAP! The plain envelope tip is super helpful too, I was expecting something that screamed "IRS" on it. Thanks everyone for sharing your timelines, it really helps knowing this anxiety is totally normal when waiting for a big refund check!

I'm so glad I found this thread! I'm currently on day 5 of waiting for my mailed refund and was starting to get really anxious about it. Reading everyone's experiences is incredibly reassuring - it sounds like I'm still well within the normal 7-10 business day range. I had no idea about USPS Informed Delivery until reading this, definitely signing up tonight! Also really helpful to know about the plain envelope - I was expecting something more official looking. The obsessive mailbox checking is so real though, I've probably checked mine 3 times today already 😅 Thanks to this amazing community for sharing your experiences and helping ease the stress!

As someone who works in tax preparation, I want to emphasize something that hasn't been fully covered here - the timing aspect of claiming exempt status. Even if you qualify now, remember that your exempt status expires at the end of February each year, so you'd need to submit a new W-4 by February 15th to maintain it. Given that you're a student, there's also the scholarship/grant income factor to consider. If you receive any financial aid that's taxable (like amounts used for room and board), this could affect your tax liability even if your job income alone wouldn't create a tax obligation. I'd also recommend keeping detailed records throughout the year if you do claim exempt - track any additional income sources, changes in your student status, or other factors that might affect your tax situation. This way you can quickly submit a new W-4 if your circumstances change and avoid any surprises at tax time. The conservative approach others have suggested really is wise here. Having a small amount withheld gives you flexibility and peace of mind, especially when you're in a transitional period of life where income and circumstances can change quickly.

I really appreciate all the detailed advice everyone has shared here! After reading through all these responses, especially the real-world experiences from other students and the professional perspective, I'm definitely convinced to take the conservative approach rather than claiming exempt status. The point about being right on that $26K edge where small changes could push me into owing taxes really resonates with me. And honestly, the stories about unexpected research work, tutoring gigs, or other income sources creating surprise tax bills are exactly what I was worried about but hadn't fully considered. I think I'll fill out my W-4 normally (single, no dependents) and let them withhold the small amount each paycheck. Like others mentioned, we're probably only talking about $15-25 per paycheck, and the peace of mind is definitely worth more than that small amount. Plus, if I don't end up owing anything, I'll get it all back as a refund anyway. Thanks everyone for taking the time to share your experiences and advice - this community is incredibly helpful for navigating these confusing tax situations! I feel much more confident about my W-4 decision now.

This situation highlights a really important distinction that many divorced parents aren't aware of. Even when a divorce decree specifies who claims which children, the IRS still requires Form 8332 for the non-custodial parent to legally claim those tax benefits. Since you mentioned you're the custodial parent and your decree doesn't specifically mention Form 8332, your ex may have been technically filing incorrectly for those 6 years he claimed the children without proper forms from you. The divorce decree creates an obligation between you two, but tax law requires the actual form. Your instinct to limit this to 2021 only is correct. You made one mistake in one year, and that's what should be addressed. Don't let his aggressive tactics pressure you into "fixing" years where you actually filed correctly according to your agreement. I'd suggest responding with something like: "I'm providing Form 8332 for tax year 2021 only, which addresses the specific filing error that occurred. For all other years, I followed our divorce agreement correctly and there's no need for retroactive forms." Document everything and stand firm. His demand for all 7 years seems more about covering his own potential filing issues than addressing your actual mistake.

I've been through a very similar situation with my ex-husband regarding Form 8332 and dependent claims. The key thing to understand is that your ex's demand for a retroactive Form 8332 covering all 7 years is completely unreasonable given that you only made an error in one year. Since you mentioned you're the custodial parent and your divorce decree doesn't specifically mention Form 8332, there's actually a bigger issue here that others have pointed out - if your ex has been claiming those children for the past 6 years without proper Form 8332s from you, he's technically been filing incorrectly according to IRS rules. The IRS requires the custodial parent to release their claim via Form 8332 for the non-custodial parent to legally claim the child, regardless of what the divorce decree says. The decree creates obligations between you two, but tax law has its own requirements. My advice: Stand your ground and only provide Form 8332 for 2021 - the year where you actually made an error. You followed your divorce agreement correctly for the other 6 years, so there's no legitimate reason to sign retroactive forms for those years. His aggressive tactics shouldn't pressure you into fixing his potential filing compliance issues. Keep detailed documentation of everything and consider consulting with a tax professional if he escalates further. You're not responsible for covering his past filing mistakes.

Wow, reading through this thread has been incredibly educational! I'm also in college and just starting to deal with tax documents for the first time, so seeing how you caught and are handling this W2 error is really helpful. The fact that your Social Security tax is actually higher than your total wages is wild - I never would have known that was mathematically impossible without reading everyone's explanations here. It's making me realize I should probably double-check my own W2 more carefully instead of just assuming everything is correct. @6b25431c3512 I hope your employer gets the corrected W2 issued quickly! It sounds like you've got all the right documentation and approach to get this resolved. And thanks to everyone who shared the detailed explanations about how Social Security tax should work - this is exactly the kind of real-world tax education that college doesn't teach us! I'm definitely bookmarking this thread for future reference and making sure to save all my paystubs going forward.

This is such a valuable thread for anyone dealing with their first W2! As someone who works in accounting, I see these kinds of errors fairly regularly, especially with part-time or seasonal employees where payroll systems sometimes glitch. The numbers you've shared make it crystal clear this is a major error - having Social Security tax that exceeds your actual wages is impossible under normal circumstances. Your employer definitely needs to issue a corrected W2 (Form W-2c) immediately. One additional tip for you and other students reading this: when you get your corrected W2, double-check that ALL the boxes are accurate, not just the Social Security ones. Sometimes when payroll systems have one error, there can be other mistakes too. Compare Box 1 (federal wages), Box 3 (SS wages), and Box 5 (Medicare wages) to make sure they all align with your final paystub. Also, keep a copy of both the original incorrect W2 and the corrected one for your records. If there are ever any questions from the IRS down the road, having that documentation will be incredibly helpful. You're handling this exactly the right way by catching it early and pushing for a proper correction. Don't let anyone convince you to file with the incorrect information - it's not worth the headache it would cause later!