Filed mine on 2/7 and still waiting here in Lawton. Week 4 now with direct deposit to First National Bank. My return is pretty basic - just W-2 income and standard deduction. Starting to get worried since some people who filed after me are already getting theirs. Anyone else from the Lawton area heard anything? The waiting is killing me since I need it for some unexpected medical bills that came up.

Filed on 2/4 and got mine this morning! Took exactly 4 weeks to the day. Used direct deposit with Arvest Bank here in Broken Arrow. Pretty standard return - just W-2 and took the standard deduction. I was starting to get anxious since I've been seeing all the posts about delays, but it finally came through. For anyone still waiting, it seems like they really are processing them, just much slower than usual. Hang in there! 🙏

I had this exact issue last year. The problem might be that TurboTax is using the nonfarm optional method calculation by default instead of the regular method. Try this: 1) Go to the Self-Employment Tax section in TurboTax 2) Look for "Optional Methods" or "Methods for Calculating Self-Employment Tax" 3) Make sure it's set to use the regular method, not the optional method The optional method is rarely beneficial unless you have very low profits or losses but want to qualify for Social Security credits. With $58k in earnings, you definitely want the regular method.

This is a common issue with TurboTax and K-1 forms! The key thing to understand is that Box 14C is only used for the "nonfarm optional method" of calculating self-employment tax, which is almost never beneficial for partnerships with decent profits like yours. Here's what's likely happening: TurboTax is automatically applying the optional method when you enter Box 14C, even though you should be using the regular method based on Box 14A ($58k). To fix this in TurboTax: 1. Go to the Federal Taxes section 2. Find "Self-Employment Tax" 3. Look for a question about "Optional Method" - make sure you select NO 4. Verify that your SE tax is being calculated on the Box 14A amount, not Box 14C The optional method is really only useful if you have very low net earnings but want to ensure you get Social Security credits. With $58k in net earnings, you're way better off with the regular method. Your SE tax should be calculated on roughly $58k, not $81k. If you can't find these settings, try deleting the Box 14C entry temporarily to see if your tax bill drops back down, then re-enter it while specifically declining the optional method.

One thing to keep in mind is that the IRS has been getting much more aggressive about crypto enforcement lately. They've been sending out CP2000 notices to people who have discrepancies between what exchanges reported and what was filed on tax returns. The fact that you're coming forward voluntarily before getting one of these notices is definitely in your favor. For your specific amounts ($7,800 income + $3,900 capital gains), you're looking at probably around $2,500-4,000 in additional taxes depending on your bracket, plus penalties and interest. The failure-to-file penalty is worse than failure-to-pay, but since you did file returns (just incomplete ones), you'd mainly be looking at the failure-to-pay penalty and interest. My advice: get those amended returns filed ASAP. Every month you wait adds more interest. And definitely keep detailed records of all your crypto transactions going forward - the IRS is only going to get stricter about this stuff.

I went through something very similar last year with about $12K in unreported crypto gains from 2021-2022. Here's what I learned from the experience: The amended return process is straightforward but time-sensitive. You'll definitely need Form 1040-X for each year, plus Form 8949 for the capital gains and Schedule 1 for any income-type crypto (like staking rewards or mining). The key is being thorough with your documentation. For penalties, I ended up paying about 18% on top of the base tax owed - this included the failure-to-pay penalty (0.5% per month) and accumulated interest. The good news is that voluntary disclosure before any IRS contact does help your case significantly. One thing that really helped me was organizing all my transactions chronologically and calculating the exact fair market value on the dates I received any crypto income. The IRS wants to see that you're making a good faith effort to get it right. Also, don't panic about the amounts you mentioned - while $11,700 total unreported isn't trivial, it's not in the range where the IRS typically pursues criminal charges. Focus on getting compliant quickly and you should be fine. The stress of dealing with it is honestly worse than the actual financial impact in most cases.

What tax software did y'all use for prior year returns? I tried using the current TurboTax but it doesn't let me do 2021 anymore.

I went through this exact same situation about 3 years ago - hadn't filed for 4 years due to job loss, depression, and just general life chaos. I was absolutely terrified, convinced I'd face huge penalties or worse. Here's the reality: if you've been W-2 employed with proper withholding, you're probably in much better shape than you think. I actually ended up getting refunds for 2 of the 4 years I hadn't filed! The IRS has what's called "Reasonable Cause" provisions for penalty relief when you have legitimate reasons for not filing (which your circumstances definitely sound like they qualify). I wrote a simple letter explaining my situation when I submitted my returns and got most penalties waived. My advice: Don't wait any longer. The failure-to-file penalty keeps accruing monthly, and you're also losing out on potential refunds that expire after 3 years. Start with gathering your documents - if you're missing W-2s, request your wage transcripts from the IRS first. Then tackle the most recent year first since it's usually the most important to get current. The anticipation and fear was honestly 10x worse than actually dealing with it. You've got this!

Just went through this exact same thing last month! I was super skeptical at first too but it's 100% legit. The key is making sure you're only using the official Chime app - don't click any links in emails or texts. I uploaded my 1040 and ID through the app and had my refund released within 48 hours. It's definitely becoming more common with all the tax fraud happening lately. Banks are just being extra cautious which honestly I appreciate even though it's a pain in the moment!

This exact thing happened to me with my refund about 2 weeks ago! I was totally panicked thinking it was a scam but it's completely legitimate. Chime has definitely ramped up their verification requirements lately - I think it's because of all the tax fraud and identity theft going around. I uploaded my 1040 and driver's license through the official Chime app (NOT through any email or text links!) and they released my funds in about 2 business days. Just make sure you're going through the app or logging into chime.com directly. Don't trust any random links or phone numbers. Once you submit the docs it's pretty quick though!