Has anyone just asked their tax preparer about this? When my wife and I file jointly, our accountant actually includes a breakdown of how much each of us contributed to the total tax liability and what portion of the refund "belongs" to each of us.

This is such a relatable situation! My partner and I went through the same thing our first year filing jointly. We ended up using the withholding proportion method that Fatima mentioned - it felt the most fair since it directly reflects what each person "overpaid" during the year. One thing that helped us was also considering our different tax situations beyond just income. For example, I had more pre-tax deductions through my employer (401k, health insurance), which reduced my taxable income but also meant my withholding rate looked lower. We factored that into our discussion. For this year, I'd suggest going with the withholding-based split since it's straightforward and fair. But definitely consider setting up a system for next year - whether it's a joint tax account like Connor suggested or just agreeing on a method upfront so you're not debating it every April!

One thing to consider that nobody mentioned yet - if your son's account was changed to his SSN mid-year when he turned 18, there might be partial year reporting. The bank might have reported the interest earned before his birthday under your SSN, and interest after his birthday under his. For such small amounts it probably doesn't matter much, but it's good to understand how the split works. When my son turned 18, the bank actually sent me a partial year 1099-INT for the first half of the year, and sent him one for the second half.

I work at a credit union (not a tax pro) and see this confusion all the time. Here's the simple version: banks track interest by SSN/TIN for tax reporting. When your son turned 18 and became primary, the system should have switched the taxable interest to report under his SSN. Banks only send 1099-INTs when interest is $10+, which is why nobody got a form. The $3 interest is still technically taxable income, but it's so small the IRS doesn't really track it. For your records, you should only report interest from accounts where YOUR SSN is the primary tax reporting number. Your son would report his if he files (which he doesn't need to with only $3 income).

Just to add something that nobody's mentioned yet - when you file your amended return, make sure you include a brief explanation that you received the 1099-DIV after filing your original return. The IRS is generally understanding about these situations if you're proactive and clear about what happened. Also, check if you need to amend your state return too. Some states automatically receive federal amendment info, but others require separate amended state returns.

I went through something very similar last year with a late 1099-MISC from a consulting gig. What really helped me was keeping detailed records of when I received the form and any communications (or lack thereof) from the company. Before reporting them to the IRS, I'd suggest sending the company a brief email documenting that you received the form late and asking for an explanation. Sometimes there are legitimate reasons (like corporate restructuring issues), and having their response on record can be helpful if you do decide to report them. For the amendment process, one thing that caught me off guard was that the IRS processing time for amended returns is much longer than regular returns - typically 16-20 weeks. So don't panic if you don't hear back right away. Also, if you're owed a refund from the amendment, you won't get any interest on it, which is frustrating but just how it works. The good news is that since you're being proactive about fixing this, you shouldn't face any penalties. The IRS generally doesn't penalize taxpayers for honest mistakes, especially when they're caused by late forms from third parties.

Think of your tax refund like a package in transit - once it's been dispatched with specific delivery instructions (your closed bank account), it needs to be returned to the sender (IRS) before they can reroute it. This process typically adds 2-4 weeks to your wait time. One thing to consider: if you're moving soon or have concerns about mail delivery, you might want to set up USPS mail forwarding immediately as a precaution. The IRS won't know your account is closed until the deposit attempt fails, so you're already in the pipeline for the check conversion process.

I went through this exact situation two years ago! Here's what actually happened in my case: The IRS attempted the direct deposit on the scheduled date, my bank rejected it within 24-48 hours, and then it took about 3 weeks from that rejection date to receive the paper check. The frustrating part is that you can't really do anything to speed up the process once it's in motion. However, I'd strongly recommend checking the "Where's My Refund" tool on IRS.gov daily - it will show you when the status changes from "direct deposit" to "check mailed" so you know exactly where things stand. Also, if your address has changed since filing, definitely set up USPS mail forwarding ASAP as that's your best bet for making sure the check reaches you. The whole process felt like forever when I was waiting for the money, but it does work out in the end!

Um actually I think everyone here is missing something important. Graduate stipends ARE subject to income tax but NOT self-employment tax, unless your specifically working as an independent contractor for the university (which almost no grad students are). When u get a 1099-MISC or 1099-NEC for your stipend, you should report it on the "Other Income" line (Line 8 on the 2022 Form 1040), NOT Schedule C. If you accidentally reported it on Schedule C, that would trigger self-employment tax of about 15.3% on top of regular income tax!

Hey Zoey! I went through almost the exact same situation last year as a PhD student. The key thing to understand is that CP2000 notices are generated automatically when the IRS's computer systems detect a mismatch between what third parties reported about your income (like your university's 1099-MISC) and what you reported on your tax return. For the dividend income - if you did receive dividends and didn't report them, you'll probably need to accept that part of the adjustment. But for the self-employment tax issue, you definitely have grounds to dispute this if your stipend is truly a fellowship/scholarship payment. Here's what I'd recommend: First, gather your stipend award letter from your university that clearly states the nature of the payment (fellowship vs. compensation for teaching). Second, if you have both research and teaching components, get clarification from your department about what percentage is fellowship vs. teaching assistantship, since they're taxed differently. Third, respond to the CP2000 by the deadline with a clear written explanation and all supporting documentation. The good news is that if you can demonstrate your stipend qualifies as a scholarship/fellowship payment, the IRS will typically reverse the self-employment tax portion. Don't panic - this is actually a pretty common issue that gets resolved once you provide the proper documentation!