ngl these transcripts might as well be written in ancient egyptian hieroglyphics lmaooo

Code 570 with EIC is super common - they basically have to verify your income and dependents before releasing that $3,733 earned income credit. Since your return processed March 20th, you're probably looking at getting your refund around mid-April, maybe a week or two after the 15th. The good news is your transcript shows no red flags - just the standard review process. Hang tight! 💪

Is anyone else annoyed that the W-4 system is so complicated we need special calculators and services just to avoid giving the government an interest free loan OR getting hit with a surprise bill? Why can't they just make a system that works correctly by default???

I've been dealing with this exact same issue! What worked for me was using the IRS Tax Withholding Estimator mid-year to check if I was on track. Since you both have steady jobs and know your approximate incomes, I'd recommend: 1. Fill out new W-4s for both of you using the current 2020+ version (not the old allowances system) 2. Both check box 2(c) for the "spouse also works" option 3. Only claim the $4,000 child tax credit on ONE form (probably yours since you make less) 4. Run the IRS calculator quarterly to fine-tune One thing that really helped us was looking at our previous year's "total tax" line on our 1040 and dividing by total paychecks to see what we should be withholding per paycheck. Then we adjusted line 4(c) to get as close as possible to that target. With your combined $170k income, you'll definitely want to be careful about underwithholding since you're in a higher bracket. Better to owe a small amount than get hit with underpayment penalties!

Just a heads up from someone who tried to claim dental expenses last year - even if you do qualify to deduct some expenses, the process can be complicated and might not save you as much as you hope. I had about $4000 in dental work, but after applying the 7.5% AGI threshold, I could only deduct about $1200. When I added that to my other itemized deductions, I was still better off taking the standard deduction. Spent hours gathering paperwork for nothing. Unless you have a LOT of other itemized deductions or your dental expenses were massive, you might end up in the same boat.

I went through something similar a couple years ago and wanted to share what I learned about maximizing your dental deduction potential. Beyond just the receipts from your dentist, you can also include related expenses that people often miss: - Mileage to and from dental appointments (current IRS rate is 22 cents per mile for medical travel) - Parking fees at the dental office - Any prescription medications related to your dental work - Over-the-counter pain relievers if your dentist specifically recommended them Also, if you had to take unpaid time off work for appointments or recovery, while you can't deduct lost wages, you might be able to deduct childcare costs if you needed someone to watch your kids during appointments. One strategy that might help: if you're planning any additional dental work, consider timing it strategically. If you bunch medical/dental expenses into one tax year rather than spreading them out, you're more likely to exceed that 7.5% threshold and actually benefit from itemizing. Keep excellent records of everything - not just the big procedures but all the little expenses that add up. The IRS allows a lot more than most people realize when it comes to medical expense deductions.

Anyone use both OLT and FreeTaxUSA? I'm deciding between these two budget options for this year.

I switched from TurboTax to OLT two years ago and haven't looked back. Your situation with investments and a side gig sounds similar to mine - I have rental income, some stock transactions, and freelance work. OLT handled everything without issues. A few things that helped me with the transition: First, gather all your documents before you start. OLT's interview process is pretty straightforward but having everything organized makes it smoother. Second, take advantage of their "review" feature before filing - it catches common mistakes and missing information. The one thing I really appreciate about OLT is that they don't try to upsell you constantly like TurboTax does. You get access to all forms and schedules without paying extra fees based on "complexity." For someone with investments and side income, this alone can save you $50-100+ compared to TurboTax's tiered pricing. My advice: maybe do a side-by-side comparison this year if you're nervous. Start your return in both OLT and TurboTax (don't file from both obviously) and see how the numbers compare. I did this my first year switching and it gave me confidence that OLT was calculating everything correctly.

I had so many problems with the credit karma+turbotax combo that I actually ended up havig to call the IRS. After 2 hours of waiting I gave up and used claimyr.com - within an hour I had an agent on the phone who sorted everything out. The issue was that my refund had been sent but credit karma had the wrong routing info. Once I talked to the agent they fixed it and reissued my refund. Best money I ever spent to avoid wasting an entire day on hold!

Just wanted to add my experience since I went through this exact same thing! The advance you got is basically TurboTax giving you a loan against your expected refund. It's not free money - there are fees involved that get deducted from your final refund amount. The "accepted but not approved" status on WMR is totally normal at this point in the season. The IRS is super backed up right now. Your actual refund is still working its way through their system. Once it gets approved, TurboTax will receive the full amount, subtract what they already advanced you (plus any fees), and deposit the remainder to your Credit Karma account. I'd estimate you'll see the rest in about 1-2 weeks based on current processing times. Just keep checking WMR for updates!