One thing to watch for - if your daughter has any unearned income (interest, dividends, etc.) over $1,250, the calculation gets more complicated. The standard deduction for dependents with unearned income is the greater of: 1. $1,250, or 2. Earned income + $400, up to the full standard deduction amount And remember she'll still need to file if federal income tax was withheld and she wants it refunded, even if she's below the filing requirement threshold!

Don't forget to check if your daughter qualifies for the American Opportunity Tax Credit for college expenses! Even if you claim her as a dependent, someone gets this credit - either you or her, but not both. Usually makes more sense for the parents to claim it since they're in a higher tax bracket and can get more benefit. The credit is worth up to $2,500 per eligible student!

The Statistical Determination System (SDS) and Discriminant Function System (DIF) that the IRS uses for audit selection doesn't include refund distribution methods in its algorithm. The correlation between advances and audits that some people perceive is likely because both are more common among early filers with EITC claims, not because one causes the other.

I completely understand your anxiety about this! As a fellow freelancer who's been through the advance process, I can share that your worry is normal but likely unfounded. The key thing to remember is that tax advances are purely a financial product between you and the lender - they have zero impact on IRS audit selection algorithms. Your meticulous record-keeping is actually your biggest asset here. The IRS audits based on red flags in your actual return data (unusual deductions, income ratios, etc.), not on how you chose to receive your refund. Since you've got your 1099s organized and business expenses tracked, you're already ahead of most taxpayers. One thing that helped ease my mind was understanding that even if you do get selected for review (which is statistically unlikely), having good documentation makes the process much smoother. The horror stories you hear are usually from people who didn't keep proper records, not from people like us who stay organized. Keep doing what you're doing with the documentation, and try not to stress about the advance - it really is just a non-factor in audit risk!

Just to clarify some confusion I'm seeing in the comments - Republic Bank is a tax refund processor that many tax preparation companies use. They aren't actually your bank. They receive the funds from the IRS, take out any preparation fees you owed (if you opted for fees to be taken from your refund), and then forward the remainder to your actual bank (Navy Federal). This process typically takes exactly 24-48 hours. I've tracked this for the past 3 tax seasons, and the average time between Republic notification and Navy Federal deposit was 37.5 hours.

Navy Federal member here! Just went through this exact scenario last month. Got my Republic notification on a Tuesday, transcript showed DDD for Friday, and I was checking my account obsessively every few hours like you probably are right now 😅 Here's what happened: Navy Federal posted my refund Thursday at 3:47 AM (yes, I checked my phone at some ungodly hour and it was there). Never showed as pending - just appeared as a completed deposit. The joint filing thing shouldn't cause any delays in the banking side of things. That verification happens at the IRS level before they even send it to Republic. Since you already got the Republic notification, you're in the clear. My advice? Stop checking your account every 30 minutes (easier said than done, I know). Set a phone alert to check Friday morning. If it's not there by end of business Friday, then you can start worrying. But honestly, based on my experience and what I've seen in this community, you'll probably wake up Friday morning to a nice surprise in your account balance.

Anyone else notice FreeTaxUSA has gotten way more complicated this year? I used it last year and don't remember all these extra questions about healthcare and cryptocurrency and foreign accounts. Now I'm paranoid I did something wrong on last year's taxes.

Just to add another perspective for first-time filers - don't stress too much about navigating all these sections! The software is designed to ask about everything possible, but most won't apply to you. For the health insurance question specifically, since you're on your parents' employer plan, you can confidently select "No" for Marketplace coverage. The key thing is making sure you indicate you had coverage all year (which you did through your parents' plan). One thing that helped me when I was starting out was keeping a simple checklist: W-2 from employer ✓, had health insurance all year ✓, not a Marketplace plan ✓, check with parents about dependent status ✓. Once you get through your first return, next year will feel much easier! You're being smart by asking questions rather than just guessing. Good luck with your first solo tax filing!

Not Renasant but most traditional banks are the same. They dont play that early deposit game like the online banks do 🤷‍♀️

Renasant customer here too! Got my DDD for 2/14 and still waiting. From what I've seen with other traditional banks, they usually don't do the early deposit thing like some of the online banks. Based on the comments here, sounds like 3-5am on the actual date is when we should expect it. Fingers crossed for tomorrow morning! 🤞