I filed on January 29th this year. Got PATH message immediately. Stayed that way until March 2nd. Then it changed to approved. Got my deposit on March 7th. No verification needed. The PATH message is normal. It's just frustrating. The IRS won't even look at returns with certain credits until February 15th. Then they process in order received. Your date matters.

Just wanted to add my perspective as someone who went through this exact situation! I had the same "still being processed" with PATH message appear around this time last year. Like others mentioned, it's almost certainly just the standard PATH Act delay if you claimed EITC or Child Tax Credit. The key thing that helped me was understanding that this is completely separate from identity verification - those requests come with very specific instructions to visit ID.me or call a special number. The PATH delay is just the IRS following federal law to prevent fraud. I know it's stressful when you have plans for your refund, but in my experience, once the delay period ends, processing usually moves pretty quickly. Hang in there!

Don't forget that with self-employment income, even just from occasional speaking gigs, you'll need to pay the self-employment tax (15.3%) on top of income tax. That can come as a shock if you're not prepared for it. The good news is that you can deduct half of the self-employment tax on your 1040, and you can also take deductions for business expenses that will reduce the taxable amount.

Just to add to all the great advice here - don't stress too much about making it sound like a "real business" when filling out Schedule C. The IRS understands that people have occasional 1099 income that doesn't constitute an ongoing business. For your husband's situation, I'd suggest: - Business name: You can just put his name or leave it blank - Principal business code: 611430 (Professional and Management Development Training) works well for academic speaking - Business address: Your home address is fine - Accounting method: Cash (unless he invoiced but wasn't paid until later) The key thing is to be honest about any expenses he had. Did he travel to these symposiums? Buy books or materials for his presentations? Even things like printing handouts or a new shirt for the presentations could be deductible. Also, keep in mind this will likely increase your tax liability since it's subject to both income tax AND self-employment tax. But the deductions can help offset some of that impact. Your FreeTaxUSA software should handle all the calculations once you input the information - it's really not as complicated as it initially seems!

Has anyone tried just using an SSN instead of an ITIN on the W9? I'm in a similar situation and my cousin told me I could just apply for an SSN instead since the process is supposedly easier.

I went through this exact same situation with Chase about 6 months ago! The key thing that helped me was being proactive with communication. As soon as I submitted my W-7 form for the ITIN application, I called Chase's customer service and explained the situation. They were actually pretty understanding once I explained that I was a new resident who needed an ITIN for banking purposes but wasn't earning US income yet. The representative put a note on my account and extended my deadline to 90 days instead of 30. One tip that really helped: when you submit your ITIN application, ask the IRS (or your Certifying Acceptance Agent if you use one) for a receipt or acknowledgment letter. Chase accepted this as proof that I was actively working on getting my ITIN, which stopped the threatening letters. Also, make sure to keep detailed records of all your communications with both Chase and the IRS throughout this process. It'll save you headaches later if there are any mix-ups!

Has anyone dealt with the opposite problem? My LLC got a 1099-NEC but the work was actually done by me personally before I formed the LLC. Payment processor refuses to change it saying "we paid the entity listed on your invoice." Now I'm stuck figuring out how to report it.

I deal with business entity transitions all the time in my tax practice, and you're absolutely right to be concerned about this. The payment processor needs to void that S corp 1099-NEC immediately. Here's what's happening: The IRS computer systems will match 1099s against tax returns filed. Since your S corp is dissolved and won't be filing a return, that 1099-NEC will show as "unmatched income" in their system. This can trigger automated notices demanding a tax return for the dissolved entity, even years later. When you contact them again, be very direct: "You have issued a 1099-NEC reporting $X income to [S Corp Name], TIN [number]. This entity was dissolved in 2019 and performed no work in 2024. This form must be voided/corrected to show $0 income, not just transferred to my personal information." If they still won't cooperate, document everything and consider having a tax professional send a letter on letterhead - sometimes that gets better results than individual requests. You might also need to attach an explanation to your personal tax return documenting the error and your attempts to correct it. Don't let this slide - I've seen clients get IRS notices for dissolved entities years after the fact due to uncorrected 1099 issues.

This is exactly the kind of situation where getting proper guidance upfront can save you from costly mistakes down the road. I made the error of classifying my hedge fund losses as passive losses for two years running before finally getting it sorted out. The IRS ended up sending me a CP2000 notice questioning my passive loss carryforwards, and it took months to resolve. What really helped me understand the distinction was realizing that the tax code views investment activities (like what hedge funds primarily do - trading securities) fundamentally differently from business operations. Even though you're a limited partner with zero control or participation, the underlying activity of the partnership matters more than your level of involvement. Since hedge funds are essentially professional investment managers trading securities, those activities generate portfolio income and losses, not business income that would be subject to passive activity rules. Make sure to keep good records of your K-1s and any supplemental statements the fund provides. If you ever get questioned by the IRS, having clear documentation showing the fund's primary activity is securities trading will support the portfolio loss classification.

Just wanted to add another perspective from someone who's been through several years of hedge fund investing. The distinction everyone's discussing between portfolio and passive activities is absolutely critical, and I learned this the hard way. What really helped me was understanding that the IRS looks at the *fund's* activities, not your participation level. Even though you're passive as a limited partner, if the hedge fund is actively trading securities, those are investment activities that generate portfolio income/losses. This is different from, say, investing in a limited partnership that owns rental properties, where you'd have passive losses. One practical tip: when you receive your K-1, look at the "Principal Business Activity Code" - hedge funds typically use code 523920 (Portfolio Management) or similar investment-related codes. This supports the portfolio income classification. Also, don't forget about the beneficial aspect of this classification. Portfolio losses can offset capital gains dollar-for-dollar, plus up to $3,000 of ordinary income annually. If these were passive losses, they could only offset passive income, which many people don't have, leaving the losses suspended indefinitely. The tax code may seem confusing, but in this case, it's actually working in your favor by giving you more flexibility to use your losses.