I'm a bit confused about something. I have a savings account that earned $8.75 in interest last year. My bank didn't send me a 1099-INT. Do I still need to report this? And how do I find the exact amount if I don't have the form?

The confusion here is totally understandable! As a tax professional, I can tell you that while ALL interest income is technically taxable regardless of amount, the practical reality is more nuanced. Here's what I tell my clients: Banks only issue 1099-INT forms for $10+ in interest, but you're still legally required to report smaller amounts. However, the IRS audit algorithms typically focus on much larger discrepancies - we're talking hundreds or thousands of dollars, not a few dollars in interest. For your situation with ~$3.42 total across multiple accounts, you have two options: 1. Be 100% compliant: Add up all the interest from your year-end statements and report the total on your return 2. Practical approach: Many taxpayers don't report amounts under $10 since there's no 1099-INT, and audit risk is essentially zero If you want to report it but don't want the hassle of digging through statements, check your December statements first - most banks show year-to-date interest totals. Much easier than adding up 12 months per account! Bottom line: The tax on $3.42 would be maybe 50 cents depending on your bracket. The choice between strict compliance vs. practical approach is really about your personal comfort level with risk.

I had the EXACT same situation - filed HoH in February, 570 code in March. I waited about 3 weeks and suddenly saw the 846 code without ever getting a notice or having to call. Sometimes they just randomly select returns for review and it resolves on its own. Be patient!

I went through this exact situation last year! The 570 code with a 971 notice is super common - it just means they're doing a routine review of your return. In most cases, it's completely automated and resolves itself within 2-4 weeks without you needing to do anything. The -1 balance is just their way of showing you have a credit (refund) coming, but it doesn't show the actual amount on the transcript sometimes. Since you verified your identity on March 10th and your transcript updated on March 15th, you're probably in the clear. The identity verification was likely what triggered the review in the first place. Now they just need to finish processing everything. Keep checking your transcript weekly - you should see either a 571 code (releasing the hold) followed by an 846 code (refund issued), or just the 846 code directly. Based on your timeline, I'd expect to see movement in the next 1-2 weeks. The notice they're sending is probably just a standard "we're reviewing your return" letter. Don't stress too much - this is way more common than you'd think!

Oh my goodness, I'm so glad I found this thread! I've been having the EXACT same problem with my PA refund check! Does anyone know if this means our refunds are delayed, or is it just the status check system that's having issues? I'm really counting on this money soon!

I'm dealing with the same frustrating situation! Filed my PA return on February 28th and still getting the "information doesn't match" error. What's really annoying is that I can see my federal refund status just fine, but PA's system seems to be having major issues. From what I'm reading here, it sounds like this is pretty common this year. I'm going to try waiting another week or two before calling, since it seems like the system just needs time to catch up. Thanks for posting this - at least now I know I'm not the only one! Let us know if yours starts working soon.

Ever wonder why tax prep companies push the "fees from refund" option so hard? Because many people never notice the extra $40 processing fee they tack on! What's worse than paying too much for tax prep? Paying extra fees just to pay your fees! I made this mistake in 2022 and noticed my refund was $40 less than expected. Checked the fine print and sure enough, there was a "convenience fee" for the refund transfer. Who's it convenient for? Them, not us.

I went through this exact situation last month! Here's what worked for me: Log into your TurboTax account and look for the "Tax Timeline" or "Order Summary" section. It should show exactly what fees were charged and how they were paid. If you chose the refund deduction option, you'll see something like "Refund Transfer Fee: $39.99" plus your filing fees. The key thing to remember is that the IRS transcript will show your full refund amount, but your bank deposit will be the net amount after TurboTax takes their cut. I also recommend taking a screenshot of this summary for your records - it's super helpful for budgeting next year's taxes!

One thing nobody's mentioned is that if you believe you're owed refunds, you should act FAST. The IRS only allows you to claim refunds for 3 years after the original due date. So for example, for tax year 2021 (which was due April 2022), you have until April 2025 to claim any refund. After that, the money is gone forever even if you were owed it. I learned this the hard way and lost about $3,200 in refunds from two tax years because I waited too long to file. Don't make my mistake!

Just wanted to share my experience - I didn't file for 3 years and finally got caught up last year. The IRS actually sent me a notice saying they would file a "Substitute for Return" for me, which is BAD NEWS because they calculate your taxes with no deductions except the standard deduction. My advice: - File yourself before they do this - If you already received a Substitute for Return, file your own return anyway to correct it - DON'T ignore any IRS notices!! - They were actually surprisingly reasonable to work with once I started communicating The biggest shock was filing 2020 with all the covid relief - I was owed way more than I expected and it offset what I owed for other years. Definitely check if you got all your stimulus payments!