I've been with Wells Fargo for about 3 years now and can confirm they're pretty strict about waiting until the exact date. Unlike some of the smaller banks and credit unions that release early, Wells Fargo processes these right on schedule. Your June 12th date should be solid - I'd expect it to hit your account sometime during business hours that day. The one thing I've noticed is that if June 12th falls on a weekend, they usually process it on the Friday before, but since you're looking at a weekday you should be good. Just don't refresh your app at midnight expecting it to be there immediately - these usually post during normal banking hours.

Based on my experience with Wells Fargo, they're pretty conservative with deposit timing - they'll release your refund exactly on June 12th as shown on your transcript, not earlier. I switched to Wells Fargo two years ago from a local credit union that always gave me deposits 1-2 days early, so I totally understand the adjustment! The good news is that Wells Fargo is very reliable - if your transcript says June 12th, you can count on getting it that day (usually sometime during business hours). Just manage your expectations and don't expect the early release you were used to with your credit union. For future refunds, you might want to consider keeping a secondary account with an online bank like Chime or SoFi if early access to funds is important to you - many people do this specifically for the early deposit feature while keeping their primary banking with traditional banks.

I'm in a very similar situation and your post really resonates with me. I discovered FBAR requirements just last month when preparing my 2023 taxes, and like you, I've been living in the US since 2018 with foreign accounts I never knew needed separate reporting. After reading through all the responses here and doing my own research, I wanted to share what I learned from speaking with an EA (Enrolled Agent) who specializes in international tax issues. She confirmed that for people like us who properly reported all foreign income on our tax returns but simply didn't know about FBAR filing, the Delinquent FBAR Submission is definitely the right path. The key questions she had me ask myself were: 1) Did I report all foreign income on my tax returns? 2) Was there any intent to hide assets? 3) Are my total foreign assets under the really high thresholds that would trigger additional scrutiny? Since you mentioned your assets are around $38k and you've been properly reporting income, you should qualify for the simple delinquent filing process. The horror stories you're reading about massive penalties are typically for cases involving tax evasion or very large unreported assets. One practical tip: before you start the FBAR filings, gather all your foreign account statements for the past 6 years and create a simple spreadsheet with highest balances for each account by year. This will make the actual filing process much smoother. You've got this! The anxiety is the worst part, but the actual compliance process is more straightforward than it initially appears.

I completely understand the overwhelming anxiety you're feeling right now - I went through something very similar when I discovered I'd been missing FBAR filings for several years. The good news is that your situation sounds very straightforward for the Delinquent FBAR Submission process. Since you mentioned you've been properly reporting all income from your foreign accounts on your tax returns, you're exactly the type of person this process was designed for. The IRS recognizes that many people simply weren't aware of the FBAR requirement, especially immigrants who are dealing with an already complex tax system. A few things that helped calm my nerves when I was in your position: 1. The horror stories online often involve much larger amounts of money or cases where people were actively trying to hide income - that doesn't sound like your situation at all. 2. Your $38k in foreign assets puts you in a very different category than the cases that result in severe penalties. 3. The fact that you proactively filed your 2022 FBAR and are now trying to get into compliance actually works in your favor - it shows good faith effort. For the practical side, I'd recommend starting with the BSA E-Filing system to submit your missing FBARs for the past 6 years. Keep your explanation simple and honest - "I was unaware of FBAR filing requirements until 2023" is perfectly sufficient. Make sure you have your foreign account statements handy for calculating the highest balances each year. You're going to get through this, and it's likely going to be much less dramatic than your anxiety is telling you right now.

Great thread everyone! As someone who went through this process last year, I wanted to add a few practical tips: 1. **PTIN timing**: While Oliver mentioned PTINs are issued quickly online, be prepared for potential delays during peak application periods (November-January). I'd recommend applying ASAP to avoid any last-minute issues. 2. **EFIN considerations**: If you're just starting out with tax prep, consider whether you actually need your own EFIN right away. Many new preparers partner with established firms or use third-party e-filing services for their first season to test the waters before committing to the full EFIN process. 3. **State requirements**: Mikayla touched on this, but definitely research your state's specific requirements. Some states require separate registrations even if you have a CPA license. California, for example, has its own CTEC registration for non-credentialed preparers, though CPAs are exempt. 4. **Insurance**: Something not mentioned yet - consider professional liability insurance once you start preparing returns for compensation. Your CPA license might provide some coverage, but tax preparation has its own specific risks. Ashley, to directly answer your question: Yes, you need the PTIN regardless of your CPA status, and getting it now will absolutely cover you for the 2024 tax season. The EFIN is only if you want to e-file directly yourself.

One important detail that hasn't been mentioned yet - make sure you understand the difference between getting a PTIN for "occasional" vs "regular" tax preparation. The IRS considers you a tax return preparer if you prepare even ONE return for compensation, so your CPA license doesn't change that requirement. However, if you're planning to prepare more than 10 returns per year, you'll also need to complete continuing education requirements through the IRS Annual Filing Season Program (AFSP) - though as others mentioned, CPAs are exempt from this since you already have CE requirements. Also worth noting: if you decide to go the EFIN route, the IRS now requires you to maintain detailed records of all returns you e-file, including client consent forms and copies of all tax documents. It's a significant administrative burden that many new preparers underestimate. The third-party e-filing route that Sean mentioned really does make sense for your first season to see if you want to commit long-term. One last tip - consider joining your local chapter of the National Association of Tax Professionals (NATP) or similar organization. They often have resources specifically for CPAs transitioning into tax preparation and can help navigate some of these regulatory requirements.

This is exactly why I switched from HR Block to a local CPA. The big tax prep companies are terrible at communication. The emails are automated and don't tell you anything useful about what's actually happening with your return. My CPA costs about $75 more than HR Block charged me last year, but she answers my questions directly, explains what's happening at each stage, and even has a direct line to the IRS Practitioner Hotline if there are issues. Worth every penny for the peace of mind.

I went through the same confusion with HR Block last year! The "accepted" email is definitely a good sign - it means your return passed the IRS's initial screening and they're moving forward with processing it. Since you mentioned you have medical bills to pay, here's what helped me track my refund more closely: I set up direct deposit if you haven't already (speeds things up by about a week versus a paper check), and I bookmarked the IRS "Where's My Refund" tool to check weekly rather than daily. With a $3,400 refund, you're probably looking at 2-3 weeks from the acceptance date if it's a straightforward return. The fact that HR Block shows "processing" status is normal - they usually don't update their system again until the IRS actually issues the refund. One thing to watch for: if your refund amount changes when you check the IRS tool, that could indicate they made adjustments to your return. But if the amount stays consistent with what you're expecting, you should be good to go!

Hey Malik! I totally get your frustration - that 33% withholding definitely feels like a punch to the gut when you're used to your full paycheck amount. The good news is that you have several solid options to fix this. Since you're single with no dependents, you're definitely overwithholding by claiming 0. On the new W-4 form (which doesn't use allowances anymore), you'd want to just check "Single" in the filing status section and leave most other sections blank for a basic situation like yours. One thing I'd suggest before making any changes: take a close look at your pay stub breakdown like Sean mentioned. Make sure you understand what's federal income tax vs. FICA vs. state taxes. If your federal withholding alone is more than about 15-20% of your gross pay, you're probably withholding too much. You can always start conservative - submit a new W-4 with just your filing status and see how your next few paychecks look. If you're still overwithholding, you can always adjust again. Better to make gradual changes than to swing too far in the other direction and end up owing at tax time!

Welcome to the "holy crap, where did my paycheck go?" club! I remember that exact feeling when I started my first job out of college. Seeing 33% vanish felt like highway robbery, but you're definitely not alone in this. Here's what helped me figure it out: I actually kept a simple spreadsheet tracking my gross pay, total withholdings, and the breakdown between federal/state/FICA for a few months. It helped me understand my actual tax burden versus what was being withheld. For someone in your situation (single, no dependents, one job), the new W-4 form makes this much simpler than the old allowance system. Just fill out your basic info, check "Single" for filing status, and sign it. That should bring your federal withholding down to a much more reasonable level. One more tip: if you're worried about making a mistake, you can always submit a new W-4 partway through the year if your first adjustment doesn't feel right. HR departments are used to people tweaking their withholdings, especially new grads who are figuring this stuff out for the first time. Don't stress too much about getting it perfect immediately!