Has anyone noticed that TaxSlayer's prices went up again this year? I've used them for the past 3 tax seasons and I swear the same service tier cost $15 less last year. And now they're pushing this File&Go thing which is basically just them charging extra to take their money later instead of now. I'm thinking about switching to a different service next year. Anyone have recommendations for something more straightforward with fewer upsells and hidden fees?

I went through this exact same confusion with TaxSlayer last week! The File & Go option is definitely just a payment method - you're not missing out on any actual tax benefits by skipping it. What helped me decide was realizing that if I have $39 to pay TaxSlayer now, I'd rather keep that money in my refund instead of giving it to them as an extra convenience fee. The "tax preparation fees" they mention are just TaxSlayer's own software fees, not anything the IRS requires. I ended up paying directly with my debit card and saved the extra charges. My taxes were filed just fine without File & Go. Don't let their wording make you think it's mandatory - it's purely optional and costs more than paying upfront.

Are you sure you're reading the pay stub correctly? Sometimes they show the breakdown of both EE and ER taxes for informational purposes, but only the EE portion actually gets deducted from your pay. Can you check if the total deductions in the summary section match up with just the employee portions?

I'd definitely recommend doing the math yourself first before assuming there's an error. Take your gross bonus amount and multiply by 1.45% for Medicare and 6.2% for Social Security - that should equal what's actually being deducted from your pay if it's correct. If the deductions are double those amounts, then you have a real problem that needs to be addressed with payroll immediately. But like others have mentioned, many pay stubs now show both the employee and employer portions for transparency, even though only the employee portion is actually taken out of your check. You can also look at your year-to-date totals on the pay stub - those should help clarify whether this is a one-time display issue or if you've been getting double-charged all year.

My sister is a tax professional and says the real question isn't whether they'll "catch" you - they will, since banks report interest directly to the IRS. It's whether they'll do anything about it. For small amounts that don't change your tax liability, they generally just adjust your reported income in their system without bothering to contact you. She says she's never seen penalties assessed when there's no additional tax due, but technically they could charge a very small accuracy-related penalty. Not worth losing sleep over for $350 that doesn't change your tax situation.

Sorry to jump in late but I actually work for one of the big banks in their tax reporting department. If it makes you feel any better, we see these small interest reporting issues ALL THE TIME. From our end, we're required to send 1099-INTs for anything over $10, but we also send the same data directly to the IRS. Most people don't realize how automated the matching is. The IRS computer literally just compares the TIN/SSN across all reported documents. If you're really worried, call your bank and ask for a copy of the 1099-INT they issued. This will confirm exactly what was reported to the IRS.

Has anyone used TurboTax to handle this marketplace allocation situation? I'm dealing with the same thing and don't know where to even enter this information.

I went through this exact scenario two years ago and it was so confusing at first! The key thing that helped me understand it was realizing that even though you're not a dependent, you were still covered under a policy in your mom's name, which creates this "shared policy" situation. Here's what worked for us: My mom (the policy holder) filed Form 8962 and allocated 100% to herself since her income was much lower and she qualified for more premium tax credit. I then filed my own Form 8962 showing 0% allocated to me. This saved us about $600 compared to splitting it 50/50. The IRS accepts this as long as both people file Form 8962 with matching allocation percentages that add up to 100%. Since you mentioned your mom is unemployed and you worked full-time, allocating more to her will likely result in less money owed overall due to the income-based credit calculation. Just make sure you both keep copies of the 1095-A and coordinate on the allocation percentages before filing!

Does anyone know if keeping a spreadsheet of your contributions is acceptable as proof if you get audited? I've been tracking mine carefully but don't have all the original contribution receipts.

I went through this exact same situation a few years ago and learned some hard lessons. The key thing to understand is that your basis for Form 8606 Line 2 is NOT the same as the cost basis on your brokerage statement. Your brokerage's cost basis includes market fluctuations and investment gains/losses, while the IRS basis is purely the sum of your nondeductible contributions. Here's what I'd recommend: Start by checking if you have any old tax returns saved electronically. If you filed Form 8606 in previous years, Line 14 from your most recent filing should show your cumulative basis - that number rolls forward to become Line 2 on this year's form. If you can't find your old returns, the IRS transcript route mentioned earlier is your best bet. You can get them free online at irs.gov or by calling. The transcripts will show your previously reported nondeductible contributions. One more tip: Keep meticulous records going forward! I now keep a simple spreadsheet with contribution dates, amounts, and form references. It's saved me hours during tax season.