Great question about CD timing and organization! I'd also suggest checking if your bank offers any special custodial CD programs or if they waive early withdrawal penalties for certain circumstances involving minors. Some banks have more flexible terms for custodial accounts that aren't widely advertised. One thing I learned when setting up CDs for my kids - consider opening them slightly staggered (maybe a few weeks apart) rather than all on the same day. This creates a natural laddering effect where they don't all mature simultaneously, giving you more options for reinvestment timing and reducing the risk of having to renew everything during a low-rate period. Also, double-check Pennsylvania's specific rules about custodial account taxation. I discovered that PA requires you to use the child's legal name exactly as it appears on their Social Security card for all tax documents - even small variations can cause processing delays. The state is pretty strict about this for custodial accounts specifically. The spreadsheet idea is definitely the way to go. I'd recommend including columns for the original deposit date, maturity date, interest rate, expected interest earned, and actual interest earned. It makes year-end tax prep so much easier when everything is already organized and you can quickly verify the 1099-INT forms against your own records.

One additional consideration for Pennsylvania residents - make sure you understand how CD interest affects any potential state tax credits or deductions your family might be eligible for. PA has some education-related tax benefits that have income thresholds, and while $300-400 per child probably won't push you over any limits, it's worth checking if you're close to any cutoffs. Also, if you're planning to use any of this money for future education expenses, you might want to compare the CD strategy with contributing to 529 plans instead. The 529 contributions can provide state tax deductions in PA (up to certain limits), and the growth is tax-free for qualified education expenses. Depending on your timeline and goals for the money, it might be worth running the numbers on both approaches. For record-keeping, I'd also suggest taking photos of the CD certificates or account opening documents and storing them digitally. Banks sometimes have issues locating old CD records, especially if you switch branches or if there are system changes. Having your own copies can save a lot of hassle if you ever need to prove the original terms or opening dates.

I'm going through the exact same thing right now! Filed in early March and got the identity verification notice in mid-April. It's been 7 weeks now and still no letter. The "Where's My Refund" tool is useless - just keeps saying "still being processed." I called the 800-830-5084 number twice but gave up after being on hold for over 90 minutes each time. This is so frustrating when you're counting on that money! Based on what everyone else is saying here, it seems like 8-10 weeks is becoming the new normal unfortunately. I'm going to try the ID.me route that Dylan mentioned - hopefully that works faster than waiting for this phantom letter to show up.

I'm in the exact same situation! Filed in early March, got my verification notice around the same time as you in April, and now it's been 7 weeks with no letter. The frustrating part is that "Where's My Refund" just keeps saying the same thing - "still being processed." I've tried calling the 800-830-5084 number twice but couldn't get through after waiting over an hour each time. Reading through everyone's experiences here, it seems like 8-10 weeks is unfortunately becoming the new normal for these letters. I'm definitely going to try the ID.me verification route that Dylan mentioned - seems like our best bet for getting this resolved without waiting indefinitely for a letter that might never show up. Really hoping we can get this sorted soon because I'm counting on that refund money too!

According to the IRS.gov website under 'Where's My Refund' FAQs (https://www.irs.gov/refunds/about-wheres-my-refund), the 'Action Required' status should automatically update within 9 days after verification! If it's been less than that, you likely just need to wait. However, if Monday was more than 9 days ago, you need to contact them IMMEDIATELY as your return may be stuck in the verification queue. The deadline for resolving these issues before potential delays is approaching quickly!

Hey Kingston! I went through almost the exact same situation last year with my delivery driver income. The "Action Required" status after in-person verification is super common and usually just means their system hasn't caught up yet. Since you verified on Monday, I'd give it until next Monday (the full 7 business days) before panicking. In the meantime, definitely call that 800-830-5084 number that Evelyn mentioned - it's specifically for identity verification follow-up and they can tell you if there's anything else needed beyond what you already did. When I called, they confirmed my verification went through but there was a secondary review happening that wasn't showing up anywhere else. Also, since you mentioned needing the refund for car repairs to keep working - I totally get that stress! If you have a smartphone, you can set up text alerts through the IRS2Go app so you'll know immediately when your status changes instead of constantly checking WMR. Hang in there, it should resolve soon! 🚗💪

Don't forget that if you absolutely cannot get your W-2, you can still file your taxes using Form 4852 (Substitute for W-2). You'll need to estimate your wages and withholding as accurately as possible. Your last paystub of the year is super helpful for this if you have it. The IRS might follow up to verify the information, but at least you can get your filing done and avoid more late penalties. Just be honest about why you're using the substitute form.

I went through something very similar a few years back when I needed old W-2s from a restaurant job. Here's what worked for me: First, definitely try the IRS wage transcript route that Omar mentioned - it's free and often the fastest option. You can get it instantly online if you can verify your identity through their system. But also don't give up on contacting the employer directly. Even if that specific Chick-fil-A location closed, the franchise owner likely had to transfer employee records to their accountant or another location. Try calling other Chick-fil-A locations in the area and ask if they can help you get in touch with the franchise owner or their HR department. One thing that helped me was explaining that I needed it for back taxes - most employers are pretty understanding about that situation and will make an effort to help since they know how important those documents are. If all else fails, the Form 4852 substitute that Nia mentioned is a valid option, but definitely exhaust the other routes first since having the actual W-2 data from the IRS transcript will be much more accurate than trying to estimate from memory. Good luck getting caught up on those taxes! Don't stress too much - the IRS is generally pretty reasonable when you're making a good faith effort to get compliant.

This is such a common confusion with WFH stipends! Based on what you've described, it sounds like your employer is treating this as taxable income since HR mentioned it will be on your W-2. Here's what you need to know: If the $200/month appears on your W-2 as wages, you'll owe taxes on the full $2,400 annually regardless of how much you actually spend. The key distinction is whether your company has set up what's called an "accountable plan" - this requires you to submit receipts and documentation for reimbursement. Without that requirement, the IRS treats it as additional compensation. Unfortunately, since 2017, employees can no longer deduct unreimbursed work expenses on federal returns. However, I'd still recommend keeping those receipts for two reasons: 1) Some states still allow these deductions, and 2) You might be able to use this documentation to convince your employer to switch to a proper accountable plan structure. You might want to approach HR about restructuring this as a true expense reimbursement program where you submit receipts quarterly. This would make the payments non-taxable for everyone involved. Many companies are open to this change once they understand the tax benefits for both parties.

Something else to consider is the potential impact on other benefits. When your WFH stipend is treated as taxable income, it increases your total wages, which can affect calculations for things like Social Security taxes, unemployment insurance, and even retirement plan contribution limits. On the positive side, if you have a 401(k) or similar retirement plan with employer matching, the higher reported income could mean you can contribute more to hit percentage-based limits. However, you'll also pay more in Social Security and Medicare taxes on that additional $2,400. If your company is open to restructuring this as an accountable plan, it's worth emphasizing to HR that this change would benefit the company too - they'd save on their portion of payroll taxes (Social Security, Medicare, unemployment insurance) on the stipend amounts. This creates a win-win situation where both employer and employees save money. I'd recommend calculating exactly how much extra you're paying in taxes on the stipend versus your actual home office expenses to present a compelling case to your HR department.