Have you used it for reporting inherited stocks? That's the part that's tripping me up with my grandma's investments. Need to make sure I get the cost basis right.

Yes, I've used it for inherited stocks. It handles the stepped-up basis correctly - there's a specific section where you can indicate the shares were inherited and enter the fair market value on the date of death as your basis. It also has a surprisingly helpful help section that explains the inheritance rules clearly. Way better than some of the more expensive options I tried previously that made this unnecessarily complicated.

TaxHawk and FreeTaxUSA are actually run by the same company! So if FreeTaxUSA doesn't support certain forms you need, TaxHawk probably won't either. They have identical limitations on which tax situations they support.

Thanks for this tip! Just checked and it's a CP12 notice, and it does show my correct tax ID number and came from the Austin, TX processing center. Looks like it's legit. Any other advice on what I should do with this information? Should I just wait for the refund or do I need to formally accept their changes?

Since it's a CP12 notice and has all the correct identifying information, it's definitely legitimate. You don't need to formally accept the changes - the adjustment is automatic. The refund should be processed within 4-6 weeks from the date on the letter. If you've set up direct deposit with the IRS previously, that's how you'll receive it. Otherwise, they'll mail you a check. You don't need to do anything else unless you disagree with their adjustment - in that case, the letter should include instructions for how to respond. Keep the notice with your tax records for that year, as it explains the changes to your original return.

Yes! This happened to me. Got a surprise refund from 2021 taxes last year, and they added like $43 in interest. Had no idea I needed to report it until I got a 1099-INT from the IRS this year. Almost missed including it on my return.

Thanks for the specific guidance on Taxport Convey! I found the "Review Exceptions" option and it shows all 42 errors in one place. If I implement the 90-day grace period approach, will I need to go back and amend these later if we don't receive the TINs within 90 days?

Yes, if you don't receive the TINs within the 90-day period and you've applied treaty rates, you would technically need to file amended returns using the higher withholding rate (typically 30% for Chapter 3). However, there's an exception for certain passive income, including some types of dividends, where you may be able to continue applying treaty rates if you have other sufficient documentation. I would recommend documenting all your follow-up attempts to obtain the TINs. If you can show reasonable efforts to obtain the information, it can help if there's ever an IRS review of your filings.

Publication 515 was super helpful when I was learning, but it's like 100+ pages. Any tips on finding the relevant sections quickly?

I didn't have any unemployment either year. But that's a good point. I went back and compared both of my W-2s more carefully, and it looks like my withholding percentage did drop slightly this year even though the dollar amount is higher. Maybe that's the culprit?

That's likely a big part of it! If your withholding percentage dropped, that means more money in your paychecks throughout the year but a smaller refund at tax time. The IRS has been adjusting withholding tables to be more accurate, which means you're not giving the government as big of an "interest-free loan" through overwithholding. Rather than focusing on getting a big refund, you might want to consider setting up automatic transfers of a small amount from each paycheck to a savings account. That way you're saving the same amount but earning interest on it yourself instead of waiting for the IRS to return it.

The Where's My Refund tool only shows basic status info though - it doesn't explain WHY your refund is different from what you expected. At least that's been my experience. It just tells you if it's been received, approved, or sent.

Thanks for mentioning this! I have a couple questions: do I need receipts for everything? And can I deduct a portion of my laptop if I also use it for personal stuff?

Yes, you should keep receipts for everything, though you don't submit them with your taxes. Store digital copies or physical receipts for at least 3 years in case of an audit. For your laptop, you absolutely can deduct a portion based on business use. If you use your laptop 60% for art commissions and 40% for personal use, you can deduct 60% of its cost. You can either deduct the full business portion in the year you bought it (Section 179 deduction) or depreciate it over several years. TurboTax will walk you through these options. Just make sure you have a reasonable basis for your business-use percentage if ever questioned.

This is what killed me my first year freelancing! I had no idea about self-employment tax and ended up owing WAY more than I expected. Definitely set aside at least 25-30% of what you make if you're in a typical tax bracket.