I've been checking my mail obsessively and haven't received any CP05 notices - just the identity verification request months ago. I double-checked my bank account info on the return and it's definitely correct. This is so frustrating because they keep saying to check for errors but won't tell me what errors they're looking for!

That is definitely frustrating. If they confirmed your identity verification was successful, there's likely another issue they're not communicating clearly. When you call, are you speaking with the refund department specifically? Sometimes different departments have different visibility into what's happening with your return. One other thing to try is to request a tax advocate through the Taxpayer Advocate Service as mentioned earlier. They have more authority to investigate and resolve issues than regular IRS representatives. Given the excessive delay, you would qualify for hardship assistance through TAS.

I've had several clients successfully use Form 911 to resolve extended delays. The key is documenting financial hardship - be specific about bills you can't pay or financial obligations you're struggling with because of the missing refund. Make sure to include all relevant information: your tax ID, filing status, tax year, and copies of any correspondence you've received. The Taxpayer Advocate Service is currently backlogged as well, but they typically respond within 30 days and can often resolve issues that regular channels can't. They have special access and authority within the IRS systems.

PMI deduction expired after 2021 I believe. They keep threatening to bring it back but nothing yet. It's annoying because I'm paying $180/month for PMI that used to at least give me a tax break!

You're right, unfortunately it hasn't been renewed. I just double-checked and the PMI deduction expired after 2021 tax year. Really hurts those of us who couldn't put 20% down. I was chatting with my lender last week about doing a reappraisal since home values in my area have gone up, which might get me over that 20% equity threshold and eliminate the PMI altogether. Might be worth looking into if you've been in your home a while or values have increased in your area.

But isn't home office deduction only for self-employed people? I work remotely for a company and my tax person said employees can't deduct home office anymore after the Trump tax changes.

Would this still apply if the crowdfunding happens in late 2024 but they don't purchase the equipment until early 2025? Or do they need to buy the equipment in the same tax year they receive the funds?

The timing matters significantly. If you receive crowdfunding in 2024, that's when the income would be recognized for tax purposes, regardless of when you purchase the equipment. If you buy the equipment in 2025, you'd take the deduction or begin depreciation in the 2025 tax year. This timing difference could create a tax burden in 2024 without the offsetting deduction until 2025. One potential solution is to use accrual accounting rather than cash basis, but that depends on your overall business structure and may require formal election with the IRS.

Be careful with that approach! I tried something similar with my small retail business. If you don't properly document the loans with terms, interest rates, and repayment schedules, the IRS could reclassify them as income anyway. Plus you need to track and report all repayments. It ended up being more paperwork than it was worth for us.

2 I've got a similar issue but with Fidelity. Do you know if all brokerages have the same March 15 deadline for these special cases? I can't find clear info anywhere.

5 Yes, all brokerages follow the same IRS deadlines. The standard deadline is February 15th for most 1099s, but there's an extended deadline of March 15th for accounts with specific types of investments that might need reclassification. This includes certain mutual funds, REITs, foreign investments, and instruments where income characterization might change. If you have these types of investments in your Fidelity account, they would also have until March 15th to provide your forms. I'd recommend calling them directly to confirm which deadline applies to your specific situation.

16 In my experience, their international funds and REITs are usually the culprits. I hold VTIAX (international) and VGSLX (REIT) and consistently get delayed 1099s every year. Their basic total market funds like VTI or VTSAX typically don't cause delays.

Yes, you can deduct the business percentage of expenses for mixed-use items. There's no specific percentage threshold - you just need to have a reasonable method for determining the business portion. Some people track hours of use, others track the number of projects, and some use square footage for workspace deductions. The most important thing is documentation. Keep a log showing when equipment is used for business vs. personal purposes. Take photos of business projects vs. personal ones. Track the income from business projects. In case of an audit, you need to be able to justify your allocation percentage.

Thanks for the clarification on mixed-use deductions! I've been keeping receipts but haven't been tracking usage time. I'll start keeping a simple log of hours spent on personal vs. sellable projects to document my business percentage. Do you think a spreadsheet would be sufficient documentation or should I be doing something more formal? I'm trying to do this right without creating an overwhelming amount of paperwork for what's still a relatively small operation.

This is really helpful advice, thank you! Do you have a specific method you'd recommend for tracking the business vs. personal usage? I'm thinking of creating a spreadsheet or maybe using a time-tracking app, but I'm not sure what would be most acceptable to the IRS if I ever got audited.

For my photography business, I now use a simple but effective system. I have a digital calendar where I color-code business shoots versus personal use. I take a screenshot at the end of each month showing the breakdown. I also keep a simple spreadsheet tracking hours of use, project names (business clients vs. personal), and income generated from business projects. The key is consistency - whatever method you choose, use it regularly. The IRS doesn't require any specific format, but they need to see that your tracking is reasonable and applied consistently. Contemporaneous records (created at the time of use, not recreated later) are much more credible in an audit situation. Finally, keep all this documentation for at least 7 years along with your tax returns.