I'm in a very similar situation and wanted to share what I learned from calling the IRS taxpayer advocate service. I verified my identity about 10 days ago and was getting anxious about the blank transcript and "Action Required" status. The advocate explained that after ID verification, returns go into what they call a "manual processing queue" where they have to be reviewed by an actual person rather than processed automatically. This is why it takes so much longer than normal processing. She said the blank transcript is actually expected during this phase because the system essentially "holds" your return information until the manual review is complete. Once that happens, everything should populate at once and move to the next processing stage. The advocate also mentioned that calling repeatedly or trying to expedite doesn't help because it's just a matter of working through the queue in order. Hope this helps explain what's happening behind the scenes - it made me feel much better about the wait!

I'm dealing with this exact same situation right now! Verified my identity through the IRS portal 8 days ago and still showing "Action Required" with completely blank transcripts for 2024. It's so frustrating not knowing if everything is processing correctly or if there's another issue. After reading through everyone's experiences here, it sounds like the 2-3 week timeframe is pretty standard and the blank transcript during verification is actually normal. Really appreciate Oliver's explanation about the manual processing queue - that makes way more sense than the vague "we're reviewing your return" message. Going to try checking my transcript early Friday morning and just try to be patient. Thanks everyone for sharing your experiences, it's really reassuring to know this is a common issue this year and not something I messed up!

One thing nobody's mentioned yet - you can actually calculate exactly how much should be withheld using the worksheets in Publication 15-T from the IRS. It's a bit complicated, but it shows the exact formulas employers use to calculate your FITWH. For 2025, they've updated some of the withholding calculations, so what seems like "extra" withholding might actually be correct based on the new tables. The standard deduction and tax brackets have been adjusted for inflation.

As someone who's been through this exact situation, I'd recommend taking a systematic approach. First, definitely check with HR to see your actual W-4 form - sometimes there are transcription errors where payroll enters the wrong amount from what you wrote. Second, don't panic about the money already withheld - it's not lost, just prepaid to the IRS. You'll get it back when you file your return. Third, before making any changes, consider your overall tax situation. If you're single with one job and no other income, you probably don't need extra withholding. But if you have a working spouse, side income, or expect to owe taxes from other sources, that extra withholding might actually be protecting you from penalties. The IRS Withholding Calculator is free and pretty accurate if you want to double-check what your withholding should be. Just have your most recent paystub handy when you use it.

16 Have you considered using task-based services like TaskRabbit or other gig platforms instead of hiring someone? I'm also a 1099 contractor and I use these services for one-off tasks when I'm swamped. The benefit is you only pay for exactly what you need, when you need it.

Another angle to consider - since you're making good money ($86K in 8 months), you might also want to look into quarterly estimated tax payments if you haven't already. With that income level plus self-employment tax, you could be looking at underpayment penalties if you're not staying current. When you do hire help, whether employee or contractor, make sure you're factoring their cost into your quarterly estimates. The IRS expects you to pay as you go, not just settle up at year-end. A good rule of thumb is to set aside 25-30% of your gross income for taxes, including any amounts you'll owe on assistant wages. Also worth noting - if you go the employee route and they work in your home office, you might be able to deduct a portion of your home office expenses related to their workspace. Just another small benefit to consider in your cost-benefit analysis.

I went through this exact same situation with Chase last year! Here's what you can expect: Bank of America will reject the deposit within 1-2 business days (they're actually pretty fast with this), then the IRS will automatically mail you a paper check to the address on your tax return. The whole process took about 3 weeks for me from the original deposit date. The most important thing is making sure your mailing address is current - there's unfortunately no way to update your banking info after filing. Don't stress too much about the WMR tool, it's notoriously behind on these situations. I got my check a full week before the online status even updated! Your refund isn't lost, it's just taking the paper route instead of electronic. Keep an eye on your mailbox starting around the 2-week mark! 📬

Hey there! I know this situation is super stressful, but you're actually in good hands - this happens to thousands of people every tax season. From my experience working with tax issues, here's what you can expect: Bank of America will bounce that deposit back to the IRS within 1-2 business days (they're pretty efficient with rejected government deposits). Then the IRS has an automated system that will generate a paper check and mail it to whatever address is on your tax return. The whole process typically takes 2-3 weeks from the rejection date. The key thing is making sure your mailing address is current since there's no way to update banking info after you've already filed. Don't rely too heavily on the WMR tool - it's notorious for being behind on these situations. Many people get their checks before the online status even updates! Your refund is definitely not lost, it's just taking a scenic detour through the mail system. Start watching your mailbox daily around the 2-week mark after your expected direct deposit date. You've got this! 💪

This is such important information that more students need to know! I wish colleges did a better job explaining scholarship tax implications during orientation. For anyone still confused about the calculations, here's a simplified way to think about it: Take your total scholarships/grants from Box 5 of your 1098-T, then subtract your qualified education expenses (tuition, mandatory fees, required books/supplies). Whatever's left over is generally taxable income that you need to report. One thing to watch out for - if you received scholarships in one tax year but they were applied to expenses in a different tax year, the timing can get tricky. The IRS generally wants you to report the income in the year you received it, not necessarily when it was applied to expenses. Also, keep really good records! Save all your financial aid documents, receipts for required textbooks and supplies, and your 1098-T forms. If you ever get questioned by the IRS later, having documentation makes everything much easier to resolve.

The timing question is really important and often overlooked! Generally, you report scholarship income in the year you have the right to receive it, which is usually when it's credited to your student account - not necessarily when you physically receive a refund check. For your specific situation with December aid applied to January expenses, check the dates on your 1098-T carefully. Box 1 shows payments received FOR the tax year, while Box 5 shows scholarships received DURING the tax year. Most schools report based on when the money was actually applied to your account. If you're ever unsure about timing, the safest approach is to follow what your school reports on the 1098-T, since that's what the IRS will be comparing your return against. You can always call your financial aid office to clarify exactly when specific disbursements were processed. One more record-keeping tip: create a simple spreadsheet tracking each semester's aid, qualified expenses, and the taxable portion. It makes tax time so much easier when you have everything calculated year by year rather than trying to reconstruct it all at once!