This is why you dont trust those "tax hacks" on social media yall

Got the same letter last week and I'm actually relieved they're cracking down on this. The amount of people claiming fuel credits without proper documentation was getting out of hand. If you legitimately qualify and have the receipts, you'll be fine - just make sure everything is organized and legible before you send it in. The 30-day deadline is firm so don't wait until the last minute. For anyone who followed those social media "hacks" without understanding the requirements, this is a good reminder that the IRS always catches up eventually.

these transcripts might as well be written in ancient egyptian hieroglyphics fr fr

Looking at your transcript, that 846 code dated 11-23-2024 is exactly what you want to see! That's the "refund issued" code and it means your $11,368.62 should have already hit your account or will very soon. If it's been issued since 11/23 and you haven't received it yet, I'd check with your bank first - sometimes they hold larger deposits for verification. The 811 code shows they removed the refund freeze on 11/6, so everything looks clear on the IRS side. You might also want to verify the direct deposit info they have on file matches your current bank account. Hope this helps!

Anybody have recommendations for apps to track freelance income/expenses? I'm terrible at keeping receipts and then panic at tax time lol.

As someone who also made the transition from W-2 to freelancing, I totally understand the stress! One thing that helped me a lot was opening a separate savings account specifically for taxes. Every time I get paid, I immediately transfer 30% to that account and pretend it doesn't exist. It's better to overestimate and get a refund than to scramble for money at tax time. Also, don't forget that you can make adjustments to your estimated payments throughout the year if your income changes significantly. If you have a slow quarter, you're not locked into paying the same amount - you can recalculate based on your actual income to date. The IRS Form 1040-ES has worksheets that walk you through this, and while it's not the most user-friendly, it's definitely doable once you get the hang of it. One last tip: consider making your first quarter payment a bit higher since you mentioned your income has been inconsistent. It's easier to reduce future payments if needed than to catch up if you've underpaid early in the year.

Can someone explain how CashApp Taxes handles wash sales on 1099-B forms? I have a similar merger situation but some of my trades might fall under wash sale rules.

I'm dealing with a very similar situation! My merger stocks also don't have acquisition dates on the 1099-B. Based on what everyone's saying here, it sounds like "Various" is the way to go, but I'm still nervous about getting it wrong. One thing I discovered that might help others - if you still have your original brokerage statements from before the merger, those sometimes show the original purchase dates of the stocks that got converted. I found mine buried in old PDF statements and was able to piece together the holding periods that way. Also worth noting that some mergers are tax-free reorganizations where your holding period carries over from the original stock, while others might create a new acquisition date. The type of merger matters for tax purposes, so if you're unsure, it's definitely worth getting clarification rather than guessing.

This is exactly what happened to us too! We got my husband's Letter 6419 first showing $450, then mine came about 10 days later with another $450. At first I panicked thinking we only received half of what we were supposed to get for our son. The IRS Customer Service portal at irs.gov confirmed we had received the full $900 in advance payments, just split evenly between us. When we filed jointly, we entered both amounts and everything processed smoothly. Pro tip: If you're using tax software, make sure you enter each spouse's 6419 amount in the correct field rather than just putting the total in one spot. The software needs to see how the payments were allocated between you two for proper reporting.

This happened to us as well! We received my Letter 6419 showing $600 for our two kids, but my spouse's letter didn't arrive for nearly three weeks. I was getting worried about filing deadlines. What really helped was calling the IRS using one of those callback services mentioned earlier in this thread - saved me hours of sitting on hold. The representative confirmed that married couples filing jointly do indeed get separate letters with the payments split 50/50, even if only one spouse has income. She also mentioned that if one letter gets lost in the mail, you can still file using the online portal information as long as you report the correct total amount you actually received. Just make sure your tax software has separate entry fields for each spouse's 6419 amount - don't try to combine them into one field or it might cause processing delays. For anyone still waiting on their second letter, I'd recommend checking that IRS Child Tax Credit portal first to see your total payments, then decide if you want to wait or just file with that information.