called the irs about this last month - got transferred 3 times just to get the same answer: no weekend deposits period.

Just to add some context - this is actually due to the Federal Reserve's payment processing system (ACH) which doesn't operate on weekends or federal holidays. It's not just the IRS being old-fashioned, it's the entire banking infrastructure. Your refund gets queued up and processes on the next business day. Most banks will show "pending" deposits over the weekend but won't actually credit your account until Monday.

Your probably in a higher tax bracket now with both incomes combined. Its like the govt thinks your making less than you are when each W2 gets procesed separately so they take less tax. Then when you combine them its like "surprise you make more than we thought so give us more money now!" I had this same problm last year when I had two jobs. My tax guy said to always check the "withhold at higher single rate" box on your W4 if you have multiple income sources or just put an extra $50 per check in the "additional withholding" line. Saves the surprize bill in April!

This exact thing happened to me last year! The frustrating part is that both payroll systems were technically calculating withholding "correctly" based on what they knew, but they had incomplete information. What helped me understand it was thinking about it like this: if you make $30k total but each payroll system only sees $15k, they each calculate withholding as if you're in the lower tax brackets for the full year. But when the IRS sees your actual $30k income, some of that money should have been taxed at higher rates. For next year, I'd definitely recommend using the IRS withholding calculator mid-year to check if you're on track. You can also ask HR to withhold an extra $20-30 per paycheck on your W-4 form (line 4c) as a buffer. Better to get a small refund than owe money again! The good news is that once you understand why it happened, it's pretty easy to prevent in the future. Just gotta make sure your withholding accounts for your total expected income, not just what each individual employer sees.

I'm dealing with a very similar situation right now! Filed an extension, made an overpayment, then mailed my completed return in August with Form 8958 (also MFS in a community property state). USPS shows delivered but the IRS has no record of it. Reading through all these responses, I'm definitely going to try calling and asking specifically for "Accounts Management" - that tip about Form 8958 filings getting stuck in manual review makes perfect sense. I had no idea there were different departments with access to different systems. For what it's worth, I also tried the "Where's My Refund" tool online and it just says my information doesn't match their records, which is exactly what you'd expect if the return is sitting in some processing limbo. The frustrating part is that I'm also owed a refund (about $900) from my extension overpayment, so this delay is costing me money I could really use right now. But it sounds like once you get to the right department, they can actually resolve these issues pretty quickly. Thanks everyone for sharing your experiences - this thread has been way more helpful than the three different IRS reps I've spoken with so far!

This is such a frustrating situation, but you're definitely not alone! Based on what I'm reading here, it sounds like your return might be caught up in the same manual review process that affects a lot of MFS filers with Form 8958. A few additional thoughts that might help: - Keep detailed records of every phone call you make to the IRS, including date, time, rep name (if they give it), and what they tell you. This documentation will be crucial if you need to escalate later. - When you do get through to Accounts Management, ask them to put notes in your file about the missing return and the steps they're taking. This way if you have to call back, the next rep can see the history. - Consider also requesting a "wage and income transcript" while you're on the call - this will show if your employer's W-2 information matches what you filed, which can help rule out other processing issues. The good news is that since you have USPS tracking showing delivery, you should be protected from any late filing penalties even if this takes longer to resolve. The IRS generally accepts postal service delivery confirmation as proof of timely filing. Hang in there - it sounds like most people in this thread eventually got their situations resolved once they reached the right department. Your $1,400 refund is definitely worth the effort to track down!

This whole discussion has been eye-opening! I've been running my small landscaping business for about 2 years and honestly had no clue about most of these reporting requirements. The $600 threshold for 1099-K forms is news to me - I definitely exceed that through Square payments. One thing that's making me nervous after reading everyone's experiences: I've been pretty casual about cash payments. I do a lot of one-time yard cleanups where customers just hand me cash at the end of the job. I write it down in a little notebook, but I'm realizing that might not be enough if I ever get audited. Should I be giving customers receipts for cash payments even for small jobs like $75 leaf cleanups? And what about tips - if a customer adds a $20 tip to their regular service payment, does that need to be tracked separately or just included in the total income? Also, I sometimes use my personal truck for business and put gas on my personal credit card, then transfer money from business to personal to cover it. From what I'm reading here, that kind of mixing might create issues. Would it be better to get a business credit card just for expenses like that? Thanks for all the insights everyone - definitely going to be more careful about my record keeping going forward!

This has been such an informative discussion! As someone who's been dealing with similar concerns about IRS visibility into business accounts, I wanted to add a few points that might help others. One thing I learned the hard way is that even if banks don't automatically report your revenue details, the IRS has sophisticated data matching systems. They can cross-reference your reported income with various third-party reports (1099s, 1099-Ks, etc.) and flag discrepancies for potential audit. So while they might not see every transaction automatically, inconsistencies definitely get their attention. For those worried about cash transactions, I've found that maintaining a daily cash log with customer names, services provided, and amounts received creates a much stronger paper trail than just jotting things down randomly. I also take photos of the work completed, which helps establish the legitimacy of the payment if ever questioned. Another tip: if you're using multiple payment methods (cash, cards, apps), reconcile everything monthly rather than waiting until tax time. I use a simple spreadsheet that tracks all income sources and matches them to bank deposits. This way if there are any timing differences between when payments are processed versus when they hit your account, you can explain them clearly. The peace of mind from having organized records is worth the extra effort!

This is such a helpful thread! I'm dealing with a very similar situation right now where my client became a resident in late 2023 but one of her investment accounts is still sending 1042-S forms for 2024. Reading through everyone's approaches, I feel much more confident about moving forward. The consensus seems to be that we can absolutely work with the 1042-S data and report it properly as resident income, which is a huge relief. I particularly appreciate the practical tips about documentation and the reminder to check for foreign tax credits that might be missed. I'm going to follow the systematic approach several of you outlined: decode the income codes from Box 1, report on appropriate schedules as if it were a 1099, and claim all withholding from Box 7 as credits. One follow-up question - has anyone ever had success getting retroactive corrected forms after using this approach? I'm wondering if it's worth continuing to push the brokerage for proper 1099s even after filing, or if it's better to just focus on getting them to fix it for next year. Thanks again everyone for sharing your experiences - this is exactly the kind of real-world guidance that makes all the difference when dealing with these complex situations!

As someone who's handled dozens of these resident status/1042-S situations, I want to emphasize that this is actually a very common issue right now. The key insight that I always share with clients is that the 1042-S contains all the information you need - you're essentially doing a "translation" from nonresident reporting format to resident reporting format. Here's my streamlined process: First, create a simple mapping document showing Box 1 codes to tax form locations (06=Schedule B dividends, 01=Schedule B interest, etc.). Second, always verify the withholding in Box 7 gets claimed as a credit - this often results in substantial refunds since 30% withholding far exceeds most clients' actual tax rates. Third, include a brief note in your workpapers explaining the situation for future reference. One thing I've learned is to proactively address this with new clients who've recently changed status. I now ask specifically about any accounts that might still have old classification information, and we reach out to update those immediately rather than waiting for the wrong forms to arrive. The IRS is very familiar with this issue and has never questioned my filings when the income is properly reported regardless of the source form. Don't let the wrong paperwork derail an otherwise straightforward return!