Just to add something that might help - I work in a university HR department (not sharing which one for privacy). The rules about Medicare Qualified Government Wages for student employees can vary based on: 1) Whether your university is public or private 2) If it's during academic year or summer 3) Your credit hours (must usually be at least half-time) 4) Hours worked per week (usually must be under 20) 5) Whether your primary relationship with the school is as a student or employee If you're primarily a student who happens to work there (rather than primarily an employee who takes classes), that's a key factor. Your school's payroll office should have a specific "Student FICA Exemption" form or process to ensure you're classified correctly.

Don't forget to check if your university is a public or private institution! This matters for the "Medicare Qualified Government Wages" question. Public universities are considered government employers, while private ones aren't. For public university student workers, your W-2 will often have Box 5 (Medicare wages) amount different from Box 1 if you qualify for the student exemption. For private universities, the rules are slightly different. Also, the IRS has a "safe harbor" rule where if you are enrolled full-time OR work fewer than 30 hours/week, you're generally considered a student first, employee second for FICA purposes.

One option nobody mentioned is just alternating bill payments. My roommate and I stopped sending each other money completely. I pay electricity and internet, she pays water and streaming services. We calculated it all out so it's roughly even. No money transfers needed = no 1099-K issues.

Guys I think everyones overthinking this. The $600 threshold is for BUSINESS payments. Unless your gf is running a business and you're paying her as a client, you're fine. Just mark everything as personal payments in cashapp. And keep basic records showing these are shared expenses just in case.

Just used taxr.ai for mine and it was spot on about my refund date. Worth every penny tbh

Code 291 is actually great news for you! It means the IRS has completely reversed your original tax liability of $7,812. This typically happens when an amended return is processed and they determine you didn't actually owe that tax in the first place. Your negative balance of $5,695 does indeed mean you have a refund coming. Here's the breakdown: - Original tax owed: $7,812 - Credits applied: $5,695 (EIC + other credits + withholding) - After code 291 reversal: $0 tax owed - Refund due: $5,695 The refund freeze from 2023 appears to be cleared since there's recent activity. You should see your refund within 2-4 weeks of the November 4th adjustment, assuming no other holds exist on your account. Keep monitoring your transcript for any deposit codes (846) which will show when it's actually sent out.

Everybody already explained SBTPG, but I just wanted to add - keep an eye on your account to make sure the full amount arrives. Last year they messed up my deposit and I had to call TurboTax to get it fixed. The difference between your expected refund and what you got should exactly match your tax prep fees plus their transfer fee (usually around $40).

This exact same thing happened to me last year and I was so confused! SBTPG is totally legit - they're the company that processes refunds when you chose to have your tax prep fees deducted from your refund instead of paying upfront. What happens is the IRS sends your full refund to SBTPG first, then they take out the tax software fees plus their own processing fee (usually around $35-40), and then deposit the remainder to your account. That's why you got less than expected and why the timing is different from your DDD. It's actually pretty common for SBTPG deposits to hit a few days before the official direct deposit date. You should be all set - this is your actual refund, just processed through the third party!

Did you receive any advance child tax credit payments in 2024? I had a similar issue where my 846 amount was about $900 less than I expected. Turns out that they had records showing I received advance payments that needed to be reconciled with my refund.

This exact same thing happened to me last year! My 846 code showed $2,847 but only $1,961 actually deposited. I was panicking for days thinking the IRS made some huge mistake. Turns out I had completely forgotten about an old debt from my college days that went into default. The Treasury Offset Program had taken $886 to pay it off. The notification letter explaining the offset arrived about a week AFTER my refund deposited, which is why I was so confused at first. My advice would be to call the Treasury Offset Program at 800-304-3107 first thing Monday morning. They can tell you immediately if any portion was offset for debt collection. It's usually much faster than trying to reach the IRS directly, and they have access to all the offset information in real time. Also double-check your transcript for any 971 notice codes that might indicate an adjustment was made to your return. Sometimes those are easy to miss when you're focused on the 846 code. Really hoping it's just a bank processing issue and the full amount shows up when it posts!