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Check the actual date listed next to your 846 code on the transcript. That date is when the IRS schedules the deposit to be sent to your bank. Then your bank might take 1-3 more days to actually post it to your account. My 0604 path return had the 846 code but the date was for NEXT week, so I was checking my account for nothing.
Is the 846 date always accurate? Mine says February 28th but today is March 2nd and still nothing in my account. I also used Cash App like the poster mentioned.
The 846 date is usually accurate for when the IRS releases the funds, but it doesn't guarantee when your bank or Cash App will make those funds available to you. Most financial institutions receive the money on the 846 date but can hold it for 1-3 business days before posting it to your account. With Cash App specifically, they sometimes have processing delays during tax season due to the high volume of deposits. If your 846 date was February 28th and today is March 2nd, I'd give it until the end of today. If nothing arrives by tomorrow, you might want to contact Cash App support to see if they can provide any information about pending deposits.
has anyone noticed that the 0604 path seems to be moving slower this year? i filed in January, got my 846 code last week, and my refund just hit my account today. last year i was a 0605 path and got my money 2 days after the transcript updated. is the irs just prioritizing certain paths first this year?
Here's a workaround I've used for years: just estimate your interest income based on your final December bank statement (it usually shows YTD interest) and file your taxes. Then when you finally get the 1099-INT, check if there's a significant difference. If the difference is small (like under $10 of interest), the tax impact is literally pennies and not worth worrying about. If it's larger, you can always file an amended return later. I've been doing this for years and have never had to amend because my estimates are usually within a couple dollars.
Isn't that technically filing an incorrect tax return though? Couldn't you get in trouble for that if you're audited?
You're filing with your best available information at the time, which is allowed. The IRS understands that sometimes you need to use reasonable estimates when exact documentation isn't available. The key is making a good faith effort to report accurate numbers based on information you have. If you're audited and can show that you made a reasonable estimate based on your December statement, you wouldn't face penalties. However, if you discover later that your estimate was significantly off, you should file an amended return. It's about being reasonable and acting in good faith, not perfect precision.
Am I the only one who thinks the whole tax document system is ridiculous? In this age of instant digital information, why are we still relying on forms being "mailed" to us? The IRS already gets most of this info directly reported to them anyway!
3 Don't ignore local networking! I built my practice by joining the Chamber of Commerce and attending every small business event I could find. I also offered a free lunch-and-learn about tax saving strategies at local business centers. Even though it's mid-season, reach out to local bookkeepers, financial advisors, and real estate agents. They likely have clients who need tax help and might be willing to send them your way. I give $50 gift cards to professionals who refer clients to me, and it's been worth every penny.
10 Did you find the Chamber of Commerce membership worth the cost? I've been considering joining but wasn't sure if it would actually lead to clients or just be another expense.
3 The Chamber membership was absolutely worth it for me, but it depends on how active your local chapter is. Mine hosts weekly networking events and monthly small business seminars, so I had plenty of opportunities to connect with potential clients. The key isn't just joining but being consistently present and helpful. I volunteered to give short presentations about tax topics at events, which positioned me as an expert. I didn't hard sell my services - just provided useful information and made myself available for questions afterward. This approach consistently brought in 3-5 new clients per event.
22 Has anyone tried those tax season signs/banners you see popping up everywhere? I'm wondering if those actually work or if they're just a waste of money. Also, what about those digital billboards?
8 I tried the roadside signs one year - total waste of money. Got maybe 2 clients from it. Digital billboards were slightly better but still not great ROI. What actually worked better was putting flyers in apartment complexes and on community bulletin boards at grocery stores and coffee shops. Much cheaper and targeted people in my actual service area.
I've been a tax preparer for 7 years and I always tell my clients to watch out for these trap agreements. The business model for many "free" services is literally collecting and selling your data. Here's a quick guide to what you should check before using ANY tax software: 1) Look for specific language about data sharing with "marketing partners" or "affiliates" 2) Check how long they retain your data (anything beyond 3 years is suspicious) 3) See if there's an explicit opt-out that actually works 4) Verify if they sell anonymized data sets even if they don't share personal info 5) Read reviews specifically about privacy practices Also, be aware that some services dramatically change their privacy policies after tax season ends. They collect your data during filing season with one policy, then update terms later to allow more extensive sharing.
This is super helpful! Do you think it's worth paying for a service just to avoid the data sharing? Or are there genuinely free options that don't have these issues?
It's often worth paying a reasonable fee for better privacy protection. Think of it this way: if you're not paying for the product, you likely ARE the product. Your data has significant value to marketers and financial services companies. Free options with better privacy do exist, but they're typically limited to the IRS Free File program partners when used directly through the IRS.gov website (not through the company's main site). Even then, read their specific privacy policies. FreeTaxUSA tends to have clearer and more limited data sharing policies compared to many competitors, though their completely free version is only available for federal filing (state returns have a fee).
Has anyone tried using an accountant instead of these software programs? I'm so fed up with the hidden fees and privacy issues with ALL these tax softwares. Is it actually worth the extra cost to have a human do your taxes?
I switched to using a local CPA last year after years of software headaches, and it was 100% worth it for me. I paid $275 for what would have cost me about $120 with the premium version of TurboTax, but the CPA found deductions I didn't know about that saved me over $800. Plus no worries about data sharing or upsells.
Liam Duke
Has anyone used TurboTax to handle rental property deductions? I'm wondering if it prompts you for these kinds of unusual expenses or if I need to know ahead of time where to put them.
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Manny Lark
•I use TurboTax every year for my rentals. It asks general questions about different expense categories but doesn't specifically prompt for unusual things like towing. You basically need to know which category to put it in yourself (like Repairs & Maintenance in this case).
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Rita Jacobs
One more thing to consider - if the towing was for a vehicle that was abandoned on your property (like an old tenant left a car behind), that might fall under different rules than if it was just for parking enforcement. Different circumstances can change how you categorize the expense. Just something to keep in mind!
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