I just went through this exact same situation and wanted to share my experience to hopefully ease some worries! I filed my 2023 return on February 8th using my old SunTrust routing number because I completely spaced on the merger changes. My refund of $2,156 was deposited into my Truist account on February 23rd without any issues whatsoever. It showed up as a normal direct deposit - no delays, no complications, just processed like any other year. The automatic forwarding system worked perfectly. What really helped my peace of mind was logging into the Truist online banking and updating my direct deposit information for next year. Under the account details section, you can clearly see both the old and new routing numbers, and there's even a note explaining that both will work through the end of 2024. For anyone still worried: the bank merger teams have been planning for tax season for months. They know this is their biggest test of the forwarding system, and from what I can tell, they've got it handled. Your refund will find its way to your account just fine!

I'm going through this exact same situation and honestly, all these responses have been such a lifesaver! I filed my return on February 12th using my old SunTrust routing number and have been panicking ever since realizing the merger changed everything. Reading through everyone's successful experiences here has really calmed my nerves. It sounds like Truist has really thought this through and set up robust systems to handle the transition. The fact that multiple people have confirmed their refunds went through smoothly with the old routing number is incredibly reassuring. I think what I'm going to do is call Truist tomorrow just to double-check my account status and maybe set up those mobile alerts that Riya mentioned. Better to be proactive and get that peace of mind rather than continue stress-checking my account balance every hour! Has anyone noticed if there's a specific time of day that refunds typically hit your account? I know it's probably random, but I'm trying to figure out if I should expect it overnight or during business hours. Thank you all so much for sharing your experiences - this community is amazing during tax season stress!

I'm dealing with a similar situation as a freelance consultant - had several business expenses in 2020 but very little income due to the pandemic. From what I've researched and discussed with other self-employed folks, you definitely can and should claim those legitimate business expenses even with zero income. The key things to remember: keep all your receipts and documentation organized, make sure the expenses were genuinely for business purposes (which yours clearly were - license, insurance, conference, supplies are all standard business costs), and don't let the software warnings scare you. A net loss from a business is completely normal and legal, especially during 2020. One tip that helped me - when entering everything in the tax software, I made notes in the description fields explaining the business purpose of each expense. It helps create a clear paper trail showing these were legitimate business costs, not personal expenses you're trying to write off.

This is actually a really straightforward situation that many self-employed people faced in 2020. You absolutely should report your business on Schedule C even without receiving any 1099s - the IRS doesn't require you to have received a 1099 to report business income (or in your case, $0 income). All of those expenses you mentioned - the license renewal, liability insurance, office supplies, and business conference - are completely legitimate business deductions. The fact that you had no income doesn't disqualify you from claiming them. You'll end up with a net business loss, which can actually help reduce your overall tax liability if you have other income. A few important points: Make sure you keep all receipts and documentation for these expenses. The conference expenses should be broken down properly (travel, meals at 50%, lodging, etc.). And don't worry about audit flags - business losses are normal, especially for 2020. The IRS understands that many businesses had extraordinary circumstances that year. Just file Schedule C with $0 gross receipts and list all your legitimate business expenses. Your tax software should handle this just fine.

As a newcomer to this community, I wanted to share my recent experience since I was in an almost identical situation just two months ago. I was caring for my disabled brother and desperately needed to know when his refund would arrive for his ongoing medical treatments. Like you, I saw the TC 846 code with a specific date on the transcript and was anxiously researching what it meant. The good news is that the 846 code with a date is indeed your Direct Deposit Date, and in my case, the funds were deposited exactly on the date shown. However, what I learned through this process might help you plan better: My bank (Navy Federal) actually posted the deposit at 2 AM on the exact date shown, but it didn't show as "available" until 6 AM that same morning due to their internal processing. I highly recommend calling your bank 2-3 days before the DDD to ask specifically about their timeline for IRS deposits - some banks make funds available immediately while others have brief processing holds even for government deposits. Also, I found it helpful to screenshot my transcript showing the 846 code as documentation, and I built in a 48-hour buffer when scheduling my brother's care payments just to be safe. The 846 code ended up being completely accurate, but having that small cushion eliminated the stress of wondering "what if." You're asking all the right questions, and the fact that you're planning ahead shows you're being incredibly responsible in managing your mother's care needs.

As a newcomer to this community, I'm so grateful to have found this thread! I'm in a very similar situation - managing my elderly mother's finances and care needs while trying to understand when her tax refund will arrive. Reading through everyone's experiences has been incredibly educational and reassuring. The consensus that TC 846 with a date is your Direct Deposit Date with 95-98% accuracy gives me much more confidence than I had before. What really stands out to me is how many experienced members emphasize the importance of the "caregiver's triple-check approach" - monitoring for reversal codes, calling the bank ahead of time, and building in that 3-4 day buffer for care payments. I never realized that even when the IRS side works perfectly, banking delays can still create complications. I'm definitely going to call my bank this week to understand their specific processing timeline for IRS deposits and set up account alerts so I'm not constantly checking my balance. The practical advice about screenshotting the transcript for documentation is something I wouldn't have thought of on my own. It's such a relief to find people who understand that when you're coordinating medical appointments, therapy sessions, and care services, you simply can't afford to just "wait and see" - the responsibility adds an entirely different level of urgency to the whole process. Thank you all for sharing both the technical expertise and the real-world caregiving wisdom!

Don't forget that if you're paying contractors less than $600 in a year, you don't need to file a 1099-NEC for them at all. This applies per person/entity, not total. Saved me a bunch of paperwork last year when I realized most of my small repairs didn't meet the threshold!

For what it's worth, I went through this exact same confusion last year as a new landlord. The IRS terminology is really confusing when you're just an individual with a rental property. Here's what worked for me: 1. Got an EIN online (took 5 minutes, completely free directly from IRS.gov) 2. Selected "Sole Proprietorship" on the IRIS application 3. Used my full legal name as the business name 4. Filed electronically through IRIS The key thing that wasn't obvious to me initially is that having rental income technically makes you a "sole proprietor" in the eyes of the IRS for 1099 purposes, even though it doesn't feel like you're running a business. You're still just filing Schedule E on your personal tax return like always. One tip: Keep good records of your EIN and IRIS login info because you'll need them again next year. And remember the January 31st deadline for getting the 1099-NEC forms to your recipients (the IRS filing deadline is later).

Just wanted to add that you should definitely keep that IRS letter with your tax records! Even though it might look unofficial compared to a regular 1099-INT, it's still an important tax document. I made the mistake of filing mine away too early last year and then panicked when I couldn't find it during tax prep. Also, if the amount seems off to you or you're not sure why you received interest, you can always call the number on the letter to verify. Sometimes there are calculation errors, though they're pretty rare. The IRS is usually pretty good about explaining exactly what the interest payment is for - whether it's from a delayed refund, an amended return, or some other processing delay on their end.

I went through this exact same situation a couple years ago and it was confusing at first! The key thing to remember is that this IRS interest is completely separate taxable income, even though it came from the government. What helped me was thinking of it this way: the IRS is acting like any other financial institution when they pay you interest. They're required by law to report it to you (and to themselves) just like your bank or credit union does. For your tax software, just add a new 1099-INT entry with "Internal Revenue Service" as the payer name, use that EIN number (38-1798424) they provided, and enter the amount in Box 1 for interest income. Keep it completely separate from your credit union's 1099-INT - don't combine them since they're from different sources. The good news is this won't cause any issues with the IRS since they already know they paid you this money. In fact, they're expecting you to report it! And congrats on getting interest from them - it usually means they took longer than they should have to process something, so it's their way of making it right.