I kept waiting for my verification letter until my accountant told me to check my spam folder... turns out they had emailed me instead of sending physical mail!! This was last month so maybe they're doing things differently now. Check all your email folders including spam/promotions/etc

I went through this same verification process about 6 months ago and it was such a stressful experience! The waiting is definitely the worst part. From my experience, the letters usually arrive within 10-14 business days, but like others mentioned, USPS delays can definitely extend that timeline. One thing I learned is that you can also check your IRS online account transcript to see if there are any status updates or codes that indicate where you are in the verification process. Sometimes the transcript updates before you receive the physical letter. Also, make sure you're checking the right mailbox if you've moved recently or have mail forwarded - I've heard of people missing their letters because of address issues. The verification process itself isn't too bad once you get the letter, just be prepared to have all your documents ready whether you do it online or by phone. Hang in there - I know the anxiety of waiting for your refund is real, but it will get sorted out!

Has anyone successfully used the sales tax deduction calculator in previous years? I'm wondering if it's worth the effort or if I should just stick with my state income tax deduction.

I'm in a similar boat with itemizing for the first time this year! The IRS usually updates their calculators around December/January, so it's totally normal that 2024 isn't available yet. For now, you can get a rough estimate by using last year's calculator and adjusting for any major purchases you made in 2024. Since you mentioned big purchases with your new house, don't forget that you can also deduct sales tax on things like furniture, appliances, and even your car if you bought one this year - just keep all those receipts! The key is to compare your estimated sales tax deduction against your state income tax amount when you're ready to file. Whichever is higher is what you'll want to claim. Given that you're itemizing anyway for mortgage interest, it's definitely worth running both calculations to see which gives you the bigger deduction.

In case it helps anyone, I found this explanation on Wheaton Precious Metals' investor FAQ page that specifically addresses taxation. It confirms they're a corporation and dividends/capital gains are taxed accordingly. They even mention that their non-direct exposure to physical metals is one reason some investors prefer them over physical gold or ETFs.

Just wanted to add that the distinction between these investment types becomes really important when you're doing tax-loss harvesting. Since royalty stocks like WPM are taxed as regular stocks, you can harvest losses against other stock gains at the more favorable capital gains rates. But if you're holding physical gold or gold ETFs that are taxed as collectibles, those losses can only offset collectible gains first before being applied to regular capital gains. This is something I learned the hard way when I was trying to optimize my tax situation last year. I had losses on some gold ETFs that I couldn't use as efficiently as I thought because of the collectible classification. The streaming stocks give you much more flexibility for tax planning strategies.

I've been investing in precious metals for over a decade and have stored gold in vaults across four different countries. Here's what I've learned: The crucial factor is whether you have what the IRS considers a "financial interest in or signature authority over" an account. With most reputable gold storage providers, you typically get an account where your ownership is tracked, you can direct sales, transfers, etc. This almost always constitutes a financial account that needs FBAR reporting. I file FBARs every year for my gold storage accounts in Switzerland, Singapore, and New Zealand. Better safe than sorry - the penalties for non-filing can be severe, especially if the IRS deems it willful non-reporting.

As someone who's dealt with similar precious metals storage situations, I'd strongly recommend getting clarity directly from the IRS or a qualified tax professional before making any filing decisions. The distinction between reportable accounts and simple storage can be subtle but has major compliance implications. From what you've described, the key question is whether your Swiss custodian arrangement creates a financial account relationship or is purely storage. If you can direct sales, receive account statements, or the custodian can hold cash proceeds on your behalf, that typically creates a reportable account for FBAR purposes given your $175K value. For FATCA Form 8938, physical gold ownership generally doesn't trigger reporting unless it's held through a specified foreign financial asset structure. However, if your custodial arrangement has account features, you'd need to evaluate whether it meets the filing thresholds. Given the severe penalties for non-compliance (up to 50% of account value for willful FBAR violations), I'd definitely get professional guidance rather than risk guessing wrong. The investment in proper tax advice is minimal compared to potential penalty exposure on $175K in assets.

One thing nobody's mentioned yet - ask if the firm does "busy season perks." At my firm (about 50 people), we get: - Dinner provided every night if working past 7pm - Uber/Lyft covered if staying past 9pm - Housekeeping service twice a month during tax season - Massage therapist comes to office weekly Yeah the hours still suck (I worked 55-65 hrs/week last tax season) but these perks are worth several thousand dollars over the 3-4 month period. Some firms build this into their compensation model instead of higher base salary.

Coming from someone who's been in tax for 8 years across different firm sizes, that $62,500 offer is pretty standard for a mid-size firm, especially if you're transitioning from corporate accounting. The 50-60 hour weeks during tax season are unfortunately the industry norm, but here's what I'd suggest asking about: 1. **Overtime eligibility** - Even though you're salaried, some firms pay overtime for hours over 50 or provide comp time banking 2. **Busy season bonus structure** - Many firms have separate bonuses specifically for tax season (usually 8-15% of base salary) 3. **Summer schedule flexibility** - Most firms offer compressed schedules or half-day Fridays during slow season 4. **Career progression timeline** - Tax accounting often has faster promotion cycles than corporate, which can mean significant salary jumps within 2-3 years The "that's just how tax works" attitude is real, but good firms recognize they need to compensate fairly for those intense months. I'd also ask current employees (not management) about their actual experience during busy season - turnover rates can tell you a lot about how sustainable their model really is. Don't be afraid to negotiate on the bonus structure or ask for a salary review after your first busy season. The market is competitive right now and firms are having to be more flexible to retain talent.