A little unrelated but just a PSA to everyone: stop paying these tax prep companies to file your taxes AND stop letting them hold your refund! Most people qualify for free filing directly with the IRS and can get direct deposit to their own bank account. These middlemen are making MILLIONS off our refunds every year.

I'm in the exact same situation! Filed 2/5 through TurboTax, got approved 2/20 with DDD 2/27 for Republic Bank advance, and still nothing as of today 2/28. Really frustrating since I was counting on this money for bills due next week. I called Republic Bank this morning and they just said "it's processing" with no real timeline. Based on what others are saying here, sounds like they're just backed up. Going to give it until Monday before I start really panicking. Keep us posted if yours shows up!

Has anybody had luck requesting a short-term extension rather than a formal installment plan? I heard you can get 120 days to pay in full without the setup fee.

I went through this exact same issue last month! That error message is incredibly frustrating, but don't panic - it's usually just a timing/processing issue, not a disqualification. Here's what worked for me: First, wait at least 7-10 business days after your return shows as "received" before trying the OPA system again. Even though they've acknowledged receiving your return, it takes time for all their internal systems to sync up. Second, try accessing the system at different times of day. I found early morning (6-8 AM EST) worked better than peak hours when their servers are overloaded. If you're still getting the error after waiting, the 120-day payment extension that Zoe mentioned is a great interim solution while you sort this out. You can request it by calling 1-800-829-1040 (yeah, the wait times are brutal, but it's worth it for the peace of mind). Don't stress too much about a few extra days - the failure-to-pay penalty is only 0.5% per month, so we're talking about a very small amount for a short delay. You've got this!

A word of caution - I tried something similar and got audited. Make sure ANY property transfer to an LLC is done at fair market value with proper documentation. The IRS scrutinizes these transactions heavily because they're often used just for tax purposes. Also, putting properties in an irrevocable trust has MAJOR implications. You basically give up ownership and control. Don't do this without consulting an estate planning attorney who specializes in this area! The tax implications alone are complex.

Be very careful about the mortgage implications of transferring to an LLC. Most residential mortgages have a "due on sale" clause that can be triggered by transferring the property to an LLC, even if you own the LLC. This could force you to pay off the entire mortgage immediately or refinance at potentially higher commercial rates. I'd strongly recommend getting written approval from your lender before making any transfers. Some lenders will work with you, but many won't allow it without refinancing as a commercial loan, which typically has higher rates and different terms. Also, don't overlook the potential impact on your homeowners insurance. Many policies don't cover properties owned by LLCs, so you might need to switch to a landlord policy, which is usually more expensive. The tax strategy might work, but make sure you can actually execute it practically with your current mortgage and insurance situation first.

If you're being claimed as a dependent (like if your parents claim you), the rules are different! Dependents have to file if they have unearned income (which stock gains are) over $1,250. Something to consider if your parents are claiming you.

Hey Liam! I was in a really similar situation last year - grad student with minimal trading gains (mine was around $85). After doing a lot of research and even calling the IRS (eventually), here's what I learned: Since you're under the standard deduction threshold ($14,350 for single filers in 2025), you're technically not required to file a federal return. However, your broker will still send a 1099-B to both you and the IRS showing your trading activity. The key thing is - even though you don't have to file, it might actually be worth filing anyway for a couple reasons: 1. It creates a paper trail showing you properly reported everything (peace of mind) 2. If the IRS ever questions the 1099-B they received, you'll have documentation 3. It's good practice for when your trading gets more complex For just $67 in gains, your actual tax liability would be maybe $7-15 depending on your situation, so it's not about the money - it's about being thorough. Plus, if you use free filing software, it's really not that much extra work. One last thing - definitely check if you're claimed as a dependent somewhere else, because that changes the rules significantly!

I'm confused about why gross income matters more than AGI for your analysis? Wouldn't AGI be more meaningful since it reflects income after certain necessary adjustments?

Have you considered looking at the IRS's Individual Income Tax Returns Complete Report (Publication 1304) tables in conjunction with their Form 1040 line item statistics? While the main tables focus on AGI, some of the supplementary tables break down specific income components before adjustments. The IRS also publishes detailed line-by-line statistics that show the distribution of various income types (wages, business income, capital gains, etc.) and deductions by income bracket. By combining these with the total income figures, you might be able to reconstruct gross income distributions. Another resource is the Treasury's Office of Tax Analysis - they sometimes publish studies using broader income measures than standard IRS publications. Their distributional analyses occasionally include pre-adjustment income figures that could be what you're looking for.