Maybe unpopular opinion but not getting a refund is actually better financial planning. When you get a big refund, it means you've been giving the government an interest-free loan all year. I intentionally try to owe a small amount (under $1000 to avoid penalties) every year because I'd rather have that money in my paycheck each month than wait for a lump sum refund.

I'm in the exact same situation! Usually get around $1,800 back and this year I owe $47. I had no idea about the withholding table changes either. What's really frustrating is that my HR department never mentioned this when they had us fill out new W-4s a couple years back. They just said "fill this out" without explaining that claiming zero allowances doesn't exist anymore and the whole system works differently now. I guess the silver lining is that we technically had more money in our paychecks throughout the year, but like others have said, most of us don't really notice an extra $20-30 per paycheck the way we notice a missing $2,000 refund. Going to have to figure out how much extra to withhold for next year so I don't get hit with this surprise again.

tbh i stopped trying to figure out the codes. I check every morning and pray 🙏 thats my system now lololol

Here's a quick reference for cycle codes that might help! The last two digits tell you the processing day: 01 = Monday, 02 = Tuesday, 03 = Wednesday, 04 = Thursday, 05 = Friday. But remember these are just when the IRS *processes* - not necessarily when you'll see updates. Updates usually happen overnight before that day. So if you have cycle code ending in 05, check Friday mornings for changes. The timing can still vary though depending on your specific situation and how backed up they are. Hope this helps decode things a bit! 📊

Anyone know if the IRS has a program for servers specifically? My tax guy mentioned something called the "Voluntary Disclosure Program" but wasn't sure if it applies to simple tip reporting issues.

I'm going through something similar right now and wanted to share what I've learned from my tax attorney. The most important thing is to act quickly but methodically. Here's what worked for me: 1. **Gather ALL your records** - bank statements, work schedules, even old pay stubs. You'd be surprised how much you can reconstruct from these. 2. **Calculate conservatively** - The IRS expects servers to report at least 8% of food sales as tips. If you can't prove exact amounts, use this as your baseline but try to be as accurate as possible. 3. **File Form 1040-X for each year** - Don't try to lump everything together. Each year needs its own amended return. 4. **Write a clear explanation** - Include a statement explaining this was an honest mistake, not intentional fraud. The IRS appreciates transparency. For your mortgage situation, consider asking your lender about a "bank statement loan" program if they offer it. Some lenders will accept 12-24 months of bank statements showing regular deposits instead of tax returns for self-employed or commission-based workers. The amendment process typically takes 3-4 months, so your 45-day timeline might be tight. But being proactive about fixing this now is absolutely the right move. Good luck!

I know everyone's focused on the rollover part, but don't forget about the tax reporting part of this. When you do get this sorted out, you'll get a 1099-R from the original institution (Vanguard in your case) showing the distribution. Make sure that when you file your taxes, you properly code this as a rollover so it's not counted as income. Also, if you do exceed the 60-day window, look into whether you qualify for a waiver. The IRS does allow waivers in certain hardship situations - financial institution errors can sometimes qualify.

I'm dealing with a very similar situation right now - inherited IRA from my father who passed 3 years ago, and the original custodian just sent me a check without warning. One thing I learned that might help you is to contact the original institution (Vanguard) immediately to see if they can reverse the distribution and transfer the funds directly to your new inherited IRA custodian instead. Some institutions will work with you on this if you explain it was an error on their part to close the account without proper notice. A direct trustee-to-trustee transfer would avoid all the complications with the 60-day rollover rules and the estate check issue entirely. If that's not possible, definitely follow the advice about reopening the estate temporarily. I had to do this and while it was a hassle, it was much better than dealing with the tax consequences of a failed rollover. The probate attorney who handled the original estate should be able to help with a simplified reopening just for this specific asset. Also document everything - keep records of when you received the check, all your communications with both financial institutions, and any steps you take to complete the rollover. The IRS can be understanding about institutional errors if you have good documentation showing you acted promptly once you discovered the issue.

When I was filing taxes last year, my accountant told me that the rules for claiming F1 students changed recently! Has anyone else heard this? My stepdaughter is on an F1 visa and we claimed her last year but now I'm worried we did it wrong.

The F1 visa dependent situation is definitely complex, but here's what I've learned from dealing with this myself: The key is understanding that there are two separate dependent tests - "qualifying child" and "qualifying relative" - and F1 students typically can only meet the "qualifying relative" test. For your stepchildren to qualify as dependents under the qualifying relative test, they need to meet these requirements: 1. You provide more than 50% of their support (sounds like you do) 2. Their gross income is under $4,700 for 2024 (or $4,800 for 2025) 3. They can't file a joint return with a spouse 4. They must be related to you (stepchildren qualify) 5. They must be US citizens, nationals, or residents of the US, Canada, or Mexico The tricky part is #5. F1 students are generally considered non-resident aliens for their first 5 calendar years in the US, which would disqualify them. However, there are exceptions - if they've been in the US previously or meet certain other conditions, they might qualify as residents. Given the complexity, I'd strongly recommend consulting with a tax professional who specializes in international student tax issues. The rules have nuances that can significantly impact your situation, and getting it wrong could trigger an audit or penalties. Regarding in-state tuition, that's completely separate from federal tax dependency status and varies by state and institution.