Something else to consider - if you're under 26 and were on your parents' health insurance, or if you had health insurance for part of the year through your previous employer (COBRA or marketplace plan), make sure you understand how that affects your tax situation. The premium tax credit stuff can get complicated with partial year coverage.

Just wanted to add one more important point that I haven't seen mentioned yet - if you're planning to look for work again or do any freelance/gig work later in 2025, filing a return for this year (even with minimal income) can actually be helpful for establishing your tax history. Some situations where this matters: if you apply for certain loans or mortgages, they may want to see recent tax returns as proof of income history. Also, if you end up doing contract work later and need to make estimated tax payments, having filed previously makes that process smoother. Plus, given that you had withholding from your December paycheck and marketplace insurance, you're definitely going to want to file anyway to get that money back and properly reconcile your premium tax credits. The good news is that with mostly zeros to report, it should be a pretty straightforward filing!

in the same boat rn...got a letter last week and almost had a heart attack but it was just telling me my refund was adjusted by like $2 lmaooo

Pro tip: Create an online account at irs.gov - most notices show up there before you get them in the mail. Helps avoid the anxiety of mystery mail

Has anyone had the IRS actually correctly process Form 8960 for 2022 yet? I'm still waiting on my refund and have the same issue - filed with investment income tax but my transcript is showing they're not calculating it correctly.

I'm dealing with almost the exact same situation! Filed my 2022 return in February with Form 8960, and my transcript is showing the same weird discrepancies - negative investment income on their end while I reported positive amounts, and their system calculating zero NIIT when I clearly owe it. What's frustrating is that I've filed Form 8960 successfully for the past three years without any issues. This definitely seems to be a systematic problem with how the IRS updated their 2022 processing rules. I also have the code 570 on my transcript dated March 15th. Based on what others are saying here, it sounds like we just need to wait for manual review to fix their computer errors. I'm keeping detailed screenshots of everything in case they send the wrong refund amount and try to collect it back later. Has anyone gotten any timeline estimates from IRS representatives about when these Form 8960 reviews might be completed?

I went through this exact same thing with Bank of America last year! The key is to get everything in writing - ask them for a written timeline of when the verification will be complete. Also, make sure you have copies of ALL your documents (tax return, ID, etc.) because sometimes they "lose" them in their system. If you're past day 10, you can file a complaint with the CFPB (Consumer Financial Protection Bureau) - that usually gets banks moving faster. Don't give up!

I feel your pain! Had a similar issue with Wells Fargo last year where they held my refund check for 12 days. What finally worked for me was calling their executive customer service line (not the regular customer service) and explaining how this was causing financial hardship. They escalated it to their verification team and got it resolved within 2 business days. Also, document every call you make - date, time, representative name, and what they told you. This paper trail becomes really important if you need to escalate further. Hang in there, you'll get your money!

This is identity theft. You need to take immediate action: • File a paper tax return with Form 14039 (Identity Theft Affidavit) • Contact all three credit bureaus to place fraud alerts • File a police report for documentation purposes • Check your children's credit reports (yes, they have them) • Consider credit freezes for your children • Report to FTC at IdentityTheft.gov • Keep detailed records of all communications The IRS will investigate both returns and determine which is legitimate. This process takes time but they will ultimately correct the situation. You'll still receive your proper refund amount with interest.

I'm so sorry this happened to you! As someone who went through this exact situation two years ago, I want to emphasize a few things that really helped me get through it: First, don't panic - while it's incredibly stressful, the IRS does have systems in place to handle this and you WILL get your legitimate refund. The paper filing with Form 14039 is absolutely the right move, and make sure you send it certified mail so you have proof of delivery. One thing I wish someone had told me - start documenting EVERYTHING right now. Take photos of your children's birth certificates, school enrollment records, medical records, even grocery receipts that show you're providing for them. The more evidence you have that they live with you and you support them, the smoother the resolution process will be. Also, consider getting an Identity Protection PIN (IP PIN) for both yourself and your children once this is resolved. It's a 6-digit number that prevents anyone from filing a return using your SSN without that PIN. You can request it through the IRS website once your case is closed. Hang in there - it's a long process but you'll get through this!