Whatever you do, DON'T ignore the notice! I made that mistake a few years ago thinking it was a mistake and ended up with penalties and interest on top of what I owed. Even if you can't resolve it immediately, at least send a response saying you received the notice and are gathering information to address it properly.

Just wanted to add one more resource that might help - the IRS has a really useful tool called the "Interactive Tax Assistant" on their website (irs.gov) that can help you understand what different types of notices mean. It's free and walks you through your specific situation step by step. Also, if you do end up calling the IRS, try calling early in the morning (like 7-8 AM) or later in the afternoon. I've found the wait times are usually shorter during those times compared to midday. And definitely have your Social Security number, the notice, and your 2022 tax return handy when you call - they'll ask for all of that right away. You've got this! CP2000 notices look scary but they're really just the IRS double-checking math. Most of the time it's either a simple error on their part or something that can be easily explained with the right documentation.

OMG I've been pulling my hair out with this EXACT cycle code! 😤 Finally updated this morning with a DDD of 3/20. Been checking literally every hour for two weeks straight. The anxiety was killing me! Last year I had a different cycle code and got my refund way earlier. PATH act is such BS - they hold our money for WEEKS even though they've already verified everything. So relieved it's finally moving!

Wow, seeing all these updates from people with the same cycle code is so encouraging! I filed January 31st with EITC and have been stuck on 20240505 since March 2nd. Haven't checked my transcript yet today but after reading that multiple people got their DDD this morning, I'm definitely going to check at 3am tomorrow. The waiting has been brutal - I keep second-guessing if I made any errors on my return. Thanks everyone for sharing your timelines, it really helps to know we're all in the same boat and that the system is actually moving. Fingers crossed mine updates in the next day or two!

I think there's another major issue with your strategy that no one's mentioned yet. It assumes you can accurately predict which stocks will rise and which will fall. Even professional fund managers struggle with this consistently. What happens if 70% of your picks fall and only 30% rise? Or if they all rise but in different proportions than expected? Your whole strategy depends on having enough losses to harvest when needed, but the market doesn't conveniently provide those when tax time comes around. I've had years where almost everything in my portfolio went up (great for returns, terrible for tax harvesting) and other years where I had plenty of losses but not enough gains to offset!

Great discussion everyone! As someone who's been implementing tax-loss harvesting for a few years, I wanted to add a practical perspective on timing and execution. One thing that's helped me is thinking about this strategy in quarters rather than just at year-end. I review my positions every 3 months to identify harvesting opportunities throughout the year. This helps avoid the December rush when everyone is doing the same thing (which can actually move prices unfavorably). Also, consider using broad market ETFs for your diversified positions instead of individual stocks. Something like VTI or ITOT for your "winner" bucket gives you instant diversification without the stock-picking risk that Romeo mentioned. Then you can use sector ETFs or individual stocks for more targeted loss harvesting when opportunities arise. The key insight I've learned is to make investment decisions first, tax decisions second. Don't let the tail wag the dog - if you have a great long-term position that happens to be down, don't sell it just for tax harvesting if you believe in the underlying investment thesis. One last tip: keep a spreadsheet tracking your wash sale windows. Nothing worse than accidentally triggering the wash sale rule and losing your tax benefit!

Don't forget there are two types of dependents: qualifying child and qualifying relative. GF would fall under qualifying relative, which means: 1. They don't need to be related if they lived with you all year 2. Their gross income must be under $4,700 3. You must provide over half of total support 4. They can't be claimed as a qualifying child by someone else The support test is the big one. Calculate EVERYTHING: - Housing (fair rental value of space) - Food - Utilities - Medical/dental - Education - Clothing - Transportation Car insurance, health insurance and phone are definitely part of support calculation, so add those to her parents' side.

This is exactly the kind of situation where you really need to sit down and crunch the actual numbers with her parents. I went through something similar when my partner moved in with me during grad school. Here's what I learned: housing costs in expensive cities like Boston often make up the largest chunk of support. At $3,200/month rent, you're looking at $38,400 annually just for housing. Add food, utilities, and other living expenses, and you're probably providing $45,000+ in support. Meanwhile, her parents are covering car insurance (maybe $1,200/year?), cell phone ($600-1,200/year), and health insurance (this varies widely but could be $3,000-8,000/year depending on the plan). The key question is: what's her total annual support amount, and who provides more than half? Don't forget to include the fair rental value of her share of your apartment space, not just what you pay in rent. I'd recommend creating a spreadsheet with both sides of support and having an honest conversation with her family. In my case, it was clear I was providing about 75% of total support, so her parents agreed I should claim her. Most reasonable parents will understand the math once you lay it out clearly. Just make sure whoever claims her can actually benefit from the deduction - sometimes it makes more financial sense for the higher earner to claim the dependent even if it's close to 50/50 on support.

A little unrelated but just a PSA to everyone: stop paying these tax prep companies to file your taxes AND stop letting them hold your refund! Most people qualify for free filing directly with the IRS and can get direct deposit to their own bank account. These middlemen are making MILLIONS off our refunds every year.

I'm in the exact same situation! Filed 2/5 through TurboTax, got approved 2/20 with DDD 2/27 for Republic Bank advance, and still nothing as of today 2/28. Really frustrating since I was counting on this money for bills due next week. I called Republic Bank this morning and they just said "it's processing" with no real timeline. Based on what others are saying here, sounds like they're just backed up. Going to give it until Monday before I start really panicking. Keep us posted if yours shows up!