Possible reasons for verification: - Income discrepancy - Identity verification needed - Missing documents - Suspicious activity flag Best thing to do is wait for their letter or use taxr.ai to get specific insights about your case. That tool saved me so much time figuring out what was wrong with my return last month.

I went through this exact same thing last month! Got the "We need more information" notice and was freaking out thinking I did something wrong. Turns out it was just routine identity verification - they sent me a letter asking me to confirm some basic info like previous addresses and loan amounts. The whole process took about 3 weeks from when I mailed back the verification form to getting my refund deposited. Don't stress too much about it! The fact that you got your state refund is actually a good sign that your return info is correct. The IRS is just being extra cautious with their fraud prevention this year. Make sure to respond promptly when you get their letter and you should be good to go. Hang in there! 🙂

I never trust the WMR tool anymore. Last year it told me my return was still processing AFTER I already received my refund. This year it gave me a deposit date, then changed to "still processing" after that date passed, then a week later the money just showed up. It's completely unreliable.

I'm going through the exact same thing with Cross River Bank! Filed on 3/6, got accepted immediately, WMR showed 3/14 deposit date, and here we are on 3/20 with nothing. Called Cross River twice and they keep saying they haven't received anything from the IRS yet. It's so frustrating because I really needed that money for rent this week. Has anyone had success getting through to the IRS phone lines? I've been trying for two days straight and can't get past the "call volumes are too high" message. Starting to wonder if there's some kind of systematic issue with Cross River and IRS deposits this year since so many of us seem to be having the same problem.

I see a lot of great math advice here but nobody's mentioned WHERE to actually set up your Solo 401k. After a ton of research, I went with Fidelity for mine because they don't charge any setup or maintenance fees and their investment options are solid. Vanguard is another good option. Avoid the ones that charge annual fees if possible - those fees eat into your returns over time!

Just wanted to chime in as someone who went through this exact confusion last year! Your math looks right - the ~20% calculation after SE tax adjustment is correct for the employer contribution portion. But like others mentioned, you're missing the huge opportunity of the employee contribution side. What really helped me understand it was thinking of it this way: as a sole proprietor, you're literally both the boss AND the worker. The "boss" you can contribute about 20% of net profit (employer contribution), and the "worker" you can defer up to $22,500 of your earnings (employee contribution) - even without a formal payroll setup. So with your $13,500 profit, you could potentially contribute your calculated $1,675 PLUS up to $13,500 more as an employee deferral (limited by your total net income). That's a massive difference in retirement savings potential! Just make sure you establish the plan by Dec 31st if you want to contribute for this tax year.

The Premium Tax Credit verification process requires manual review by an IRS examiner, which is why it takes longer than standard processing. When faxing your Form 8962 and Form 1095-A, ensure you're using the correct fax number from your notice (typically CP12C or Letter 0012C). The processing timeframe after receipt is generally 6-8 weeks, though current backlog conditions may extend this slightly. Don't worry though - this is a routine verification, not an audit.

I just went through this same verification process last month! Here's my timeline to give you a realistic expectation: I received the CP12C notice on February 5th, faxed my 8962 and 1095-A on February 8th, called to confirm receipt on February 15th (they had it), and finally received my refund on March 25th - so about 7 weeks total from when they confirmed receipt. The most stressful part was not knowing if they actually got my fax, so definitely call to confirm within a week or two. Also, make sure your 1095-A matches exactly what you put on Form 8962 - any discrepancies will cause additional delays. Good luck!

I'm confused about which line on Form 6251 these specified private activity bond interest dividends go on. My tax software seems to be putting them on line 2g, but is that right? Also, if my AMT calculation ends up being lower than my regular tax (which it usually is), do I need to worry about this at all?

Great discussion everyone! As someone who just went through this exact situation, I wanted to add that it's also worth checking if your mutual fund company provides any supplementary tax information beyond what's on the 1099-DIV. Some fund companies will send additional documentation explaining the source of the private activity bond interest and whether it comes from bonds issued before or after August 7, 1986 (which can affect certain calculations). They might also break down which states the bonds were issued in, which could be relevant for state tax purposes. I found that understanding the underlying investments helped me feel more confident about how to handle the tax reporting, especially when explaining it to my accountant. The $2,800 you mentioned is a pretty substantial amount, so it's definitely worth making sure you're handling it correctly!