Does filing an extension help if I already got the tax bill? I thought that meant they had already processed my return.

If you've already received a tax bill, that means your return has already been filed and processed, so an extension wouldn't help in that case. Sorry I misunderstood your situation. In that case, your options are mainly setting up a payment plan with the IRS (installment agreement), making an Offer in Compromise if you qualify, or requesting Currently Not Collectible status if you're truly in financial hardship. Definitely contact the IRS to discuss your options before ignoring the bill, as penalties and interest will continue to accrue.

This is solid advice. I did this last December and was able to book about $12k in losses while keeping basically the same crypto portfolio. Just make sure you document everything meticulously because the IRS loves to scrutinize crypto transactions.

That's a really good point I hadn't considered. Our team is pretty small and tight-knit, but we should probably be more transparent about our tax compliance approach. Did your company face penalties even though they weren't actually committing fraud?

Yes, we ended up with penalties for incorrect filings, even though it wasn't deliberate fraud. The investigation process itself was also incredibly costly - legal fees, accountant overtime, management distraction, etc. I think the total impact was around $300,000 for a company with only about $15M in revenue. Having clear documentation of your tax approach and making sure your team understands the basics will go a long way. Most whistleblower cases happen because employees genuinely believe something improper is happening, not out of malice.

It really depends on the findings. If they discover deliberate falsification of records or intentional misrepresentations, criminal charges against executives could happen. However, most cases end with settlements, additional tax payments, and penalties. The reputational damage can be significant though - it could impact Netflix's negotiating position with European content creators and regulators.

Does anyone know if there's a clearing house site for Credit Karma Tax (now Cash App Taxes)? I filed through them this year and can't figure out how to track my refund besides the IRS site.

Cash App Taxes (formerly Credit Karma Tax) doesn't use a clearing house the same way other services do. Since they don't charge for their service, there's no need for a refund transfer process. Your refund will go directly from the IRS to your bank account. Your best option is to use the IRS Where's My Refund tool or call the IRS if it's been more than 21 days. If you have a Cash App account and chose to receive your refund there, you can check the status in the Cash App under the Banking tab.

This is so helpful! I just checked my transcript and found code 846 with a date for next Wednesday. The Where's My Refund tool was still showing "processing" with no date. Thanks for the tip!

Omg that's incredible! I do have about $45k in student loans still. I had no idea this was a thing. Do you know if it matters that I'm working remotely? Does your wife have to do anything special to qualify for this program?

Remote work doesn't affect PSLF eligibility - it's about who your employer is (a qualifying non-profit), not where you physically work. The key requirements are: working full-time (at least 30 hours per week), making 120 qualifying monthly payments under an income-driven repayment plan, and being employed by a qualifying employer during those payments. My wife had to submit the PSLF Employment Certification Form annually to track her progress. The most important thing is to start this process ASAP - get the Employment Certification Form filled out by your HR department once you start. Many people miss out because they don't properly document their qualifying employment from the beginning.

This is great advice! I'd add that you should also check whether they offer a 403(b) retirement plan rather than a 401(k) - it's the non-profit version and sometimes has different contribution limits or match structures.

1 I didn't even think to check that... just looked at my forms and you're right, my total tax paid went up a lot this year (like $1400 more than last year), but my withholding didn't increase enough to match it. I did do some DoorDash on weekends this year that I forgot about, and that probably didn't have any withholding on it. That explains a lot, thanks!

7 The DoorDash income is definitely a big factor then! Self-employment income doesn't have taxes automatically withheld, so that would explain why your refund was smaller - you earned money throughout the year that didn't have any tax withheld from it. For next year, you might want to consider making quarterly estimated tax payments on that income, or increasing your withholding at your main job to cover it.

11 I work at a grocery store and have the same problem. I think it's because our hours fluctuate so much week to week, so they can't really predict what we'll make for the whole year. My sister is a teacher with a steady salary and her withholding is almost perfect every year.

3 That makes a lot of sense about the fluctuating hours! I didn't think about it that way. I guess if some weeks I'm getting 38 hours and other weeks only 22, the withholding system probably gets confused about what my actual annual income will be.