Call the Tax Advocate Service. With that amount of money and this long of a wait, they might be able to help.

That TC810 refund freeze from February is definitely the issue here. The fact that you got TC571 (resolved) in June but still no refund means there might be additional holds or manual reviews happening behind the scenes. With a refund that large compared to your income, the IRS computer systems probably flagged it for human review to verify everything is legitimate. The TC977 from 2023 could be complicating things - even though you don't remember filing an amendment, the IRS might have processed one automatically or there could be a discrepancy they're still sorting out from that year. At this point, you really need to call the IRS directly at 1-800-829-1040. Have your transcript ready and ask specifically about the TC810 hold and when it will be released. If you can't get through, definitely contact the Taxpayer Advocate Service like Romeo mentioned - they handle cases exactly like this where refunds are unreasonably delayed.

That 810 freeze code from Feb 16 combined with your March 5 verification completion puts you in a pretty typical timeline. Most people see movement 4-9 weeks after verification, so you're getting close to that window. Your transcript looks clean - no penalties, no adjustments, just waiting for that freeze to lift. Keep checking weekly for codes 571 (freeze release) and 846 (refund issued). The fact that your return processed on 3/28 is actually a good sign that everything else is moving through the system normally.

That's a substantial refund amount! With your verification completed on 3/5 and processing date of 3/28, you're definitely in the waiting period that many of us know all too well. The 810 freeze from 2/16 is holding things up, but since everything else on your transcript looks clean (no adjustments, penalties, or other red flags), it's really just a matter of time now. Keep monitoring for those key codes - 571 will show the freeze being released, followed by 846 with your actual DDD. Some folks see movement as early as 4 weeks post-verification, others wait closer to 8-9 weeks. Given that you verified in early March, you should hopefully see some action in the next couple weeks. The fact that your return processed normally on 3/28 despite the freeze is actually encouraging - it means they're not finding issues with your return itself, just working through their verification backlog.

Is there a tax software that actually handles this correctly? I've been using TurboTax for my small business and it asks me to select a depreciation method but doesn't explain the limitations or when I can/can't make changes. Just looking at switching to something better for next year.

This is a great question that I see come up a lot! To add to what others have said - the key thing to understand is that depreciation method elections are made on a per-asset basis when you first place the property in service, not something you can change year to year. However, there are a few important points worth clarifying: 1. **New assets vs. existing assets**: For any NEW equipment you purchase, you absolutely can choose 150% declining balance even if your older assets are on 200%. Each asset gets its own depreciation schedule. 2. **Automatic optimization**: Both 200% and 150% declining balance methods will automatically switch to straight-line when that becomes more beneficial - this usually happens in the later years of the asset's life and requires no paperwork. 3. **Section 179 and Bonus Depreciation**: Don't forget to consider whether you might benefit more from Section 179 expensing or bonus depreciation for new equipment purchases instead of worrying about declining balance percentages. The IRS is pretty strict about method changes because they don't want taxpayers gaming the system by switching methods based on annual income fluctuations. If you're really set on changing existing assets from 200% to 150%, you'd need Form 3115 and a valid business reason beyond just tax optimization. What type of equipment are you depreciating? That might help determine if there are other strategies that could work better for your situation.

Has anybody actually tried keeping their foreign mutual funds after becoming a US resident? I'm curious about the real tax impact compared to just selling everything.

This is exactly the kind of situation where getting proper guidance early makes a huge difference. From what you've described, your tax preparer's suggestion about filing 5 years of retroactive FBARs seems overly conservative - as others have mentioned, you were a non-resident alien during those F1 years. One thing I'd add is to be very careful about the timing of when you became a tax resident. The substantial presence test calculation can be tricky, and the exact date matters for PFIC purposes. If you only became a resident partway through 2024, your PFIC reporting might only apply from that specific date forward. Also, regarding your question about selling - consider the timing carefully. If you sell early in your first resident year, you might be able to limit the PFIC gains to just a few months rather than a full year. The compliance burden for ongoing PFIC reporting really is significant, as others have noted. Between the annual Form 8621 requirements and the punitive tax treatment, many people find it's worth taking the one-time hit to get out of these investments entirely. I'd strongly recommend getting a second opinion from a CPA who specializes in international tax before making your final decision. The rules are complex enough that general tax preparers sometimes give overly broad advice.

Looking at your transcript codes, this is actually really promising! The 811 "Removed refund freeze" on 01-09 means your return was indeed held up (probably for routine verification) but that hold has been lifted. The 846 code with date 01-30-2025 for $4,258.37 is the big one - that's your actual refund issued date. The $292.37 interest (code 776) is because of the delay since you filed in February. You should see the money in your account within 1-5 business days after 01-30, so likely by early February. The processing is basically done at this point!

Wow, that's an amazing breakdown of your transcript! Seeing those specific codes with dates is such a good sign. The 811 "Removed refund freeze" explains why you've been waiting so long - your return was probably flagged for routine verification but now it's cleared. That 846 code for 01-30-2025 is basically the IRS saying "we're sending your money" so you're almost there! The interest payment is actually pretty decent too for the wait you've had to endure. Fingers crossed you see that deposit hit your account in early February! 🤞