One thing nobody mentioned - the support test is key here. If you provide more than half of your own support from EARNED income (your campus job), then kiddie tax doesn't apply regardless of age. Calculate all your expenses (portion of housing, food, tuition not covered by scholarships, books, clothing, medical, etc.) and compare to what you earned from working. If your $4,200 job income is more than half your total support costs, you might escape the kiddie tax entirely!

Great question Leo! Since you're 19, a full-time student, and claimed as a dependent, you'll likely need to deal with kiddie tax rules. However, there might be some good news in your situation. First, the kiddie tax only applies to unearned income (your $3,800 in investment gains) above $2,300. So roughly $1,500 of your investment income could be taxed at your parents' higher rate. But here's the key point that Amaya mentioned - if you can prove you provided more than half of your own support through earned income, the kiddie tax won't apply at all! You need to calculate ALL your expenses for the year: your share of room/board, tuition not covered by scholarships/financial aid, books, clothing, food, transportation, medical expenses, etc. If your total support costs are less than $8,400 ($4,200 × 2), then your campus job income covers more than half your support and you'd escape the kiddie tax entirely. This could save you hundreds of dollars compared to having that $1,500 taxed at your parents' rate. Make sure to keep detailed records of all your expenses - this is something the IRS might want to see documented if questioned. Even if you don't meet the support test this year, understanding this rule can help you plan for future years!

Been here since January waiting on last years refund, these new codes are nothing to worry about tbh. Just part of the process

Don't panic! I had the exact same codes (570 and 971) last year with $0.00 amounts and got my refund about 10 days after the PATH Act date. The 570 is just a temporary hold while they verify your EITC eligibility - it's completely automated and routine. The 971 notice will probably just be a standard letter explaining the delay. Keep checking your transcript every few days for an 846 code (refund issued) - that's when you'll know your money is coming! The timing actually looks normal for PATH Act processing.

Pro tip: early morning updates usually happen around 3-6am EST. Late night crew knows whats up lol

Just went through this last week! E-filed on Tuesday and it showed up on my transcript Thursday morning. The Return Transcript updates first like Brady mentioned, then the Account Transcript follows a day or two later. Since you filed Sunday, you're probably looking at Wednesday/Thursday for it to appear. The IRS systems definitely don't process over weekends so that adds to the delay.

I see the "just keep calling" advice a lot, and honestly, it reminds me of the time I tried to reach my ex at 2am after a breakup... persistent but not very effective! 😂 Seriously though, I used to be in the "just use the free tools" camp until I had a complicated issue last year. The free tools are great for basic stuff, but they don't really explain what's happening with your specific situation. The IRS transcript looks like it was designed by someone who hates humans - all codes and dates with zero explanation. Sometimes paying a few bucks to save hours of frustration is worth it. But hey, if you've got unlimited time to sit on hold or decipher IRS hieroglyphics, more power to you!

Thanks for asking this question! I'm dealing with something similar and it's good to see I'm not alone. Based on what everyone's saying, it sounds like we're both stuck waiting for the refund to go to our old accounts (if they're still open) or getting paper checks if not. One thing I'm wondering - has anyone here actually tried to contact their bank to see if they can help redirect the deposit once it hits? I know some banks have policies about forwarding funds to new accounts for a certain period after closure. Might be worth a shot before we resign ourselves to the paper check wait time. Also @CosmicCruiser, I saw you mentioned switching banks for medical bills - have you considered just transferring the money once it hits your old account? That might be faster than waiting for a paper check if your old account is still active.

One option nobody's mentioned - if your LLC hasn't done anything, consider formally dissolving it with your state instead of dealing with ongoing filing requirements. I had a similar situation and just closed mine down. The process varies by state but usually involves filing articles of dissolution and a final tax return. Once properly dissolved, you stop having the annual filing obligations. Much better than paying fees and filing returns year after year for something you're not using.

This is exactly the situation I was in with my LLC! I formed it in early 2023 with big plans but life got in the way and it sat completely dormant. Like you, I had zero income, zero expenses, absolutely nothing. I ended up having to file Form 1065 anyway - the IRS doesn't care if you had no activity, they still want that return. The good news is it's pretty straightforward when there's nothing to report. You'll basically be putting zeros everywhere and attaching a statement explaining the lack of activity. For the penalties, I was looking at about $420 total ($210 per partner for each month late), but I successfully got first-time penalty abatement. The key is to file ASAP and include a letter explaining that you genuinely didn't know about the filing requirement for inactive businesses. Be honest about the situation and your clean tax history. One thing to watch out for - make sure you check if your state has any requirements too. Some states charge annual fees regardless of activity level. Better to find out now than get surprised later!