If they do have these threshold amounts, why doesn't the IRS just publish them? Seems like it would save everyone a lot of time and stress over tiny amounts.

They don't publish the exact thresholds for a strategic reason. If everyone knew precisely what amount they could "get away with" not reporting, many people would deliberately stay just under that threshold, and the cumulative effect across millions of taxpayers would be significant. The IRS wants everyone to report everything accurately, but they have to allocate their limited enforcement resources effectively. They keep these internal tolerance levels confidential and also change them periodically to prevent systematic abuse.

For overpayments, the calculation is different. You're getting YOUR money back, so it depends on how much your time is worth. A refund of $20 might be worth the 30-45 minutes it takes to prepare and mail a paper amendment. Remember though, paper amendments can take 6-12 months to process currently, so you'll be waiting a while for that $20.

How did you determine what's a "reasonable" salary for a DM? I didn't think there was enough data for that kind of job to establish market rates.

I researched what other professional DMs and TTRPG content creators charge hourly in my area and nationwide, then calculated what a full-time equivalent would earn. I also looked at similar creative professionals like game designers and tabletop gaming store managers. I documented all this research in case of an audit. The key is having a methodology that shows you didn't just pick a low number to avoid taxes. My CPA helped me gather comparable profession data that would stand up to scrutiny. With niche professions like ours, you need to get creative with finding salary comparisons, but there's actually more data out there than you might think now that professional DMing has grown as a career.

How do you even calculate how much to pay quarterly when your income fluctuates month to month? My crafting business is super seasonal and I have no idea what I'll make until I make it.

Is there a specific form to fill out to modify an existing payment plan to include a new tax year? Or do you have to call?

You can use Form 9465 (Installment Agreement Request) to modify an existing agreement. Check the box that indicates you're revising an existing agreement. Include your current agreement number if you have it. You can also do this online through the IRS payment plan tool if your total debt is under $50,000. Look for the option to revise an existing agreement. It's generally faster than submitting a paper form, and you'll get immediate confirmation when it's processed.

What tax software do you use? I've found that some have better guidance for people with payment plans than others. I'm using FreeTaxUSA and it barely mentioned anything about my existing payment plan.

Have you actually used OLT yourself? I've never heard of them before and I'm worried about using some random tax site. Are they an authorized IRS e-file provider? And did they handle the rest of your taxes okay? I've got some investment stuff and a small business too.

Yes, I've used OLT for the past two years including this year with Form 7202. They are definitely an authorized IRS e-file provider - you can check the IRS website for their list of authorized providers and OLT is on there. For your investment and small business concerns, they handled my stock trades and side gig income without any problems. Their interface isn't as slick as TurboTax, but all the necessary forms and schedules are there. I found their small business section particularly good at walking through deductions many people miss. The $49.95 price includes all forms including Schedule C for business.

I'd love to use a professional but am worried about the cost. Did you shop around for EAs or just pick one? $275 actually sounds reasonable - I was quoted $450 by someone local and thought that was the going rate. Also, how did you find them?

Wouldn't traditional IRA be better if they're trying to lower their current tax bill though? Roth doesn't help with that at all.

You're right that a traditional IRA would help lower the current tax bill, which is definitely an advantage if immediate cash flow is the primary concern. I suggested Roth because at $65k, OP is probably in the 22% tax bracket now, and many financial planners believe this is a relatively favorable rate to pay taxes at, especially for someone early in their career whose income (and potentially tax bracket) will likely increase. The long-term tax-free growth often outweighs the current tax deduction for younger earners. But it's definitely a personal decision that depends on individual circumstances and priorities.

The new W-4 doesn't use allowances anymore (changed in 2020). You now have to specify actual dollar amounts for additional withholding or reduction. Bit more complicated but more accurate.

Thanks for the correction! Shows how long it's been since I updated mine. Guess I need to look at the new form and figure out what numbers to put in there. Appreciate the info!