Do legislators actually read those letters? I've always wondered if contacting representatives actually does anything or if it's just busy work that makes us feel like we're doing something.

They absolutely do track constituent communications, though often it's staff who read them rather than the actual representative. What really matters is volume - one letter won't do much, but if they receive hundreds or thousands on the same issue, it definitely gets noticed. Email is good, but actual physical letters and phone calls tend to get more attention. If you're really passionate, organizing a group of local parents with 17-year-olds to collectively reach out can be even more effective. Representatives ultimately care about votes, so showing that an issue affects many voters in their district is the best way to get their attention.

Extensions only give you more time to file, not more time to pay. The payment is still due in April even with an extension.

Wait, is that true about spouses both needing IP PINs? My husband got an IP PIN last year after some identity theft issues, but I never received one. We file jointly. Will our return be rejected if I don't have one too?

Not exactly - I should have been clearer. If only your husband was issued an IP PIN, then only he needs to enter one on the tax return. What happened in our case was that both my wife and I were separately issued IP PINs (we both had separate identity theft issues), but we only entered mine on our joint return. The rule is that anyone who has been issued an IP PIN must use it when filing, regardless of filing status. So if you personally weren't issued an IP PIN, you don't need one. But if your husband has one, he absolutely needs to include it on your joint return.

YES! This happened to me too! The envelope was so basic looking that it sat in my "probably junk" pile for weeks. I only found it when I was specifically searching for tax documents. You'd think something this important would be clearly marked.

If I use a bank's EIN I found online and it's wrong, will I get in trouble with the IRS? I'm in a similar situation.

If you make a good faith effort to get the correct information and document your attempts, you won't get in trouble. The IRS understands these situations happen. If you're using an EIN you found through legitimate research and have documented that the bank refused to provide the correct information, you should be fine. The worst that would happen is the IRS might send a notice about the mismatch, at which point you can explain the situation and provide evidence of your attempts to get the correct information.

DON'T DO THIS! I tried that once and got a CP2000 notice from the IRS about unreported income. They couldn't match the 1099-R to my return because of the missing/incorrect TIN. Ended up having to file an amended return and pay interest.

I'm using Schwab actually. They did send a supplemental document showing the cost basis, but it's not formatted in a way that makes it easy to match up with the 1099-B transactions. There are different dates and lot numbers that don't seem to correspond exactly to what's on the 1099. Did you have to do any manual matching or calculations with yours?

Ah Schwab can be tricky with RSUs. Their supplemental document requires some manual work unfortunately. The lot numbers on the supplemental document should correspond to specific grant dates, not necessarily the sale dates on your 1099-B. You'll need to match each sale on your 1099-B with the appropriate lot(s) on the supplemental document. Look for matching quantities and dates that are close together. Sometimes a single sale on the 1099-B might include shares from multiple lots on the supplemental document, which means you'll need to calculate a weighted average cost basis for that transaction.

Not all RSUs have shares withheld for taxes. Some companies give you the full shares and expect you to pay the taxes separately. The OP should check their vesting statements to confirm whether shares were withheld or not before making adjustments.

But what about the flip side? What if you have big unrealized gains at year end? Wouldn't you have to pay taxes on money you haven't actually received yet? That seems risky.

Yes, that's exactly the tradeoff that makes this decision so important. If you have substantial unrealized gains at year-end, you would indeed have to pay taxes on those paper profits before actually closing the positions. This is why MTM is generally most beneficial for active traders with frequent transactions rather than those who hold positions across tax years. If your strategy involves carrying large unrealized gains across year boundaries, MTM could create cash flow problems when you owe tax on money you haven't actually pocketed yet.

Does the wash sale exemption apply to both securities and options under MTM? I trade a lot of options around core positions and the wash sale calculations have been a complete nightmare.

Yes, the wash sale exemption under MTM applies to both securities and options, which is fantastic for options traders. Since options are marked to market at year-end anyway, the whole concept of wash sales becomes irrelevant. This is especially valuable for options traders who frequently roll positions or adjust strategies around core holdings. Under regular tax treatment, these adjustments can trigger wash sales that create massive headaches for tax reporting. With MTM, all those complications disappear - you simply mark everything to market on December 31st regardless of your trading activity throughout the year.