Definitely a scam! You made the right call being suspicious. The IRS has a very clear policy - they never initiate contact via email, only through official mail. That "Dear Taxpayer" greeting is a dead giveaway since legitimate IRS communications would use your actual name. What's really clever (in a malicious way) about this particular scam is how they included that line "We won't initiate email contact with you without your consent" - they're basically trying to address the exact red flag they're creating! It's a psychological trick to make you think "oh, they're being transparent about their email policy, so this must be legit" when actually it proves the opposite. Never click anything in emails claiming to be from the IRS. Always go directly to IRS.gov if you need to check your account. You can forward this scam to phishing@irs.gov to help them track these attempts. Your instincts were spot on - when it comes to taxes, if something feels off, it usually is!

This is 100% a scam - you absolutely did the right thing by questioning it! The IRS is very explicit about their communication methods: they do NOT initiate contact through email, text, or social media. Ever. All legitimate IRS communications come through official postal mail. That "Dear Taxpayer" greeting is a huge red flag since the real IRS would use your specific name if you actually had an online account with them. What's particularly devious about this scam is that line about "We won't initiate email contact with you without your consent" - it's a clever psychological manipulation where they're acknowledging the exact concern people should have while simultaneously doing what they claim they don't do! The vague "new notification" language is classic phishing - designed to create urgency and curiosity without giving you anything specific you could verify. Real IRS notices are detailed and reference specific tax years, forms, or account activities. Delete this email immediately and go directly to IRS.gov if you need to check your account status. Don't click any links! You can also forward this scam to phishing@irs.gov to help them track these fraudulent attempts. Your gut instinct to be suspicious was absolutely correct - trust it!

Just wanted to add some important context here - you absolutely can still claim those stimulus payments through the Recovery Rebate Credit when you file your back taxes. However, be aware that the IRS has been extra thorough in reviewing returns that claim these credits, so make sure you have documentation of what you actually received (or didn't receive). If you're unsure about which payments you got, you can request your Account Transcript from the IRS online at irs.gov - it'll show all payments made to you. This will help you avoid claiming incorrect amounts which could delay your refund or trigger correspondence from the IRS. Also, since you mentioned being out of work, don't forget to look into other credits you might be eligible for like the Earned Income Tax Credit (if you had some income) or the Child Tax Credit if you have kids. These can significantly increase your refund beyond just the stimulus payments.

Just wanted to share my experience since I was in almost the exact same situation last year. I hadn't filed 2020 or 2021 taxes and was panicking about missing out on the stimulus money. Here's what I learned: First, you definitely CAN still get the stimulus payments through the Recovery Rebate Credit when you file your back taxes. The money comes as part of your tax refund, not as separate stimulus checks. Second, time is critical! For 2020 taxes, you only have until May 17, 2024 to claim any refund (including stimulus money). That's coming up fast! For 2021, you have until April 18, 2025. I ended up getting my Account Transcript from the IRS website to see exactly which payments I had received (turned out I got one partial payment I'd forgotten about). This was crucial because the IRS will delay your refund if you claim the wrong amount. Filed both years in February and got my refunds about 10 weeks later - much slower than normal but I did get the full stimulus amounts I was eligible for. The wait was nerve-wracking but totally worth it. Don't give up hope, just make sure you file accurately and as soon as possible!

One thing nobody has mentioned yet is that Section 117(d)(5) has been on shaky ground in recent years. During the 2017 tax reform discussions, there was talk of eliminating this exclusion entirely, which would have made all graduate tuition waivers taxable income. While it survived that round, it's always possible future tax legislation could modify or remove this benefit. Make sure whatever documentation you rely on is current. The IRS Publication 970 (Tax Benefits for Education) gets updated annually and contains official guidance on these educational tax benefits. Always worth checking the most recent version!

Just to add another perspective - I work in university payroll and see these situations frequently. The distinction everyone's discussing between 117(d)(5) and Section 127 benefits is crucial, but there's one more wrinkle to consider. If you're classified as more than a half-time employee (typically 20+ hours per week), some universities will automatically categorize ALL your tuition benefits under Section 127 rather than 117(d)(5), even if you're also teaching. This is because they view your primary relationship with the university as "employee" rather than "student." I'd strongly recommend getting written clarification from both your graduate school AND your HR department about how they're classifying your benefits. Don't assume that teaching one class automatically qualifies you for 117(d)(5) treatment if you're primarily employed in administration. The IRS looks at the substance of the relationship, not just the presence of teaching duties. Also, if your university is treating this inconsistently or you're getting conflicting information, document everything. You may need to make your own determination based on the facts and circumstances of your situation.

I'm surprised nobody has mentioned the potential for basis adjustment due to the "kiddie tax" that might have applied while the shares were in the UGMA account. If the custodial account generated dividends or other income that exceeded certain thresholds while you were a minor, there could be implications for your basis calculation. Also, don't forget to check if there were any return of capital distributions over the years that would have reduced your basis. With shares held this long, it's surprisingly common.

This is exactly the type of complex situation where getting professional help makes sense. Between the original employee stock options, the UGMA transfer, multiple corporate actions (two mergers!), and decades of potential dividend reinvestments, you're dealing with a multi-layered basis calculation that could easily result in overpaying taxes if handled incorrectly. A few additional things to consider that others haven't mentioned: 1. Check if your brokerage has any historical records from when the shares were transferred in 2018. Sometimes they capture basis information from custodial accounts even if it's not immediately visible. 2. Contact the current company's investor relations department - they often maintain historical information about corporate actions, stock splits, and merger terms going back decades. This documentation will be crucial for your basis calculations. 3. If your father still has any old tax returns from around 1992 when he exercised the options, those might show the income he recognized, which would help establish his original basis. 4. Don't overlook state tax implications - some states have different rules for gift basis than federal tax law. Given the potential tax savings involved with shares held for 30+ years, it's probably worth investing in proper documentation and calculation rather than guessing. The IRS is pretty strict about substantiating basis claims, especially on large gains from old securities.

This is really helpful information! I'm in a similar situation - moved from Germany to the US last year with about $15k in savings. One thing I want to add is that if you're transferring from Japan specifically, make sure you understand the US-Japan tax treaty provisions. The treaty can help prevent double taxation on certain types of income, but it's complex. Also, if you had any Japanese retirement accounts (like iDeCo or corporate pension plans), those have special reporting requirements that are different from regular bank accounts. The IRS considers many foreign retirement accounts as "foreign trusts" which have additional Form 3520 filing requirements beyond just the FBAR. I'd definitely recommend getting professional help if you have any retirement or investment accounts in Japan, not just regular savings accounts. The penalties for incorrect reporting on these can be severe.

Great question! As others have mentioned, you generally won't owe US taxes on transferring your own savings that were already earned and taxed overseas before you became a US resident. The transfer itself isn't a taxable event. However, I wanted to add a few practical tips for the actual transfer process: 1. **Documentation**: Keep detailed records of when you earned this money (pay stubs, tax returns from Japan) and proof that it was already taxed there. This will be helpful if the IRS ever has questions. 2. **Wire transfer considerations**: For $20k, a wire transfer is probably your best option, but be prepared for your US bank to ask questions about the source of funds due to anti-money laundering regulations. Have your Japanese employment documentation ready. 3. **Timing**: Since you're now a US resident, any interest earned on that Japanese account after your residency date would be taxable in the US. So it might make sense to transfer sooner rather than later to avoid complications with future interest income. 4. **FBAR filing**: Don't forget that if your Japanese account had over $10,000 at any point this year, you'll need to file FinCEN Form 114 by April 15 (with automatic extension to October 15). This is just reporting, not a tax. The key thing is that this is YOUR money that you already paid taxes on - you're just moving it from one account to another. Good luck with the transfer!