I've been through the TAS process twice for different tax issues, and timing really does matter with amendments. From my experience, you absolutely can request TAS assistance immediately if you have legitimate hardship - the "waiting period" some people mention isn't actually a hard rule when you're facing eviction. Here's what worked for me: I called TAS directly at 877-777-4778 and had my eviction notice, past-due utility bills, and bank statements ready when I called. The key is being very specific about your timeline - tell them exactly when you're facing eviction and that you need the refund to prevent it. One thing that surprised me was that TAS can actually place a priority flag on your amendment even before it shows up in the normal tracking system. My advocate told me this bypasses some of the regular processing queues. That said, I agree with others here that you should pursue multiple options simultaneously. Contact local rental assistance programs, see if your utility companies have hardship programs, and maybe even reach out to your landlord about a payment plan. TAS helped me, but it still took 6 weeks total, and you might need bridge solutions while waiting. Good luck - the stress of waiting for tax money when you're facing eviction is awful, but don't give up on getting help.

I just went through this exact situation two months ago and wanted to share what actually happened versus what I expected. Filed my amendment on January 15th, facing foreclosure with a March 1st deadline. Called TAS on January 18th (yes, just 3 days after filing) with my foreclosure notice and financial documentation. Here's the reality check: they assigned me an advocate on January 25th, but the advocate couldn't actually DO anything until my amendment showed up in their system, which took until February 8th. So while you can get assigned quickly with proper hardship documentation, there's still a technical waiting period for the amendment to enter their processing system. My advocate was honest about this limitation upfront, which I appreciated. The good news? Once my amendment was in the system, my advocate was able to expedite it and I had my refund by February 28th - literally 2 days before my foreclosure deadline. Without TAS, I was looking at a 16-20 week wait that would have cost me my house. My advice: call TAS immediately with your eviction documentation, but also start looking into emergency rental assistance programs in your area as a backup plan. The combination saved me from losing everything.

FYI - the rules for investment interest expense are in Publication 550. Specifically, on page 33 it says: "If you paid interest on a margin account to buy taxable securities, the interest paid (subject to investment income limits) is deductible as an itemized deduction." The IRS does allow indefinite carryforward of disallowed investment interest, but as others have mentioned, you need to establish this each year on Form 4952, even in years you don't itemize. One point no one mentioned: To increase your investment income limit, you can elect to treat qualified dividends and long-term capital gains as ordinary income (taxed at higher rates) to expand the amount of investment interest you can deduct in a given year. This election might make sense if your disallowed interest is substantial.

This is a really comprehensive discussion! I just wanted to add one more perspective as someone who went through a similar situation a few years ago. The harsh reality is that if you never filed Form 4952 in prior years, you're in a gray area. While the law allows indefinite carryforward of investment interest, the IRS expects you to have established those carryovers properly each year. Here's what I did in my situation: I amended the returns I could (last 3 years) and for the older years, I prepared "shadow" Form 4952s - essentially filling out what I would have filed if I had done it correctly back then. I kept these with detailed brokerage statements as supporting documentation. When I claimed the older carryovers on my current return, I included a statement explaining the situation and referencing my supporting documentation. My return was processed without issue, though I realize that doesn't guarantee audit protection. One thing to consider: if your margin interest from the amendable years (2022-2024) is substantial enough to provide meaningful tax savings, it might be worth focusing just on those rather than risking questions about the older amounts. Sometimes the bird in the hand approach is better than trying to capture everything and potentially triggering scrutiny of your entire investment interest situation.

Something everyone's missing - check if you even needed to file! If your income is only 4100 Swiss francs annually (roughly $4500 USD), that's below the filing threshold for most years. For 2022, the standard deduction was $12,950 for single filers, so if you earned less than that, you weren't even required to file a US return. For your retired mom, it depends on her income sources and amounts, but the thresholds are different for seniors. Don't waste money on expensive tax specialists until you determine if you even had a filing requirement based on your income level!

Just wanted to add some reassurance from someone who went through this exact situation! I'm a dual citizen (US/German) who hadn't filed US taxes in 8 years while living in Berlin. I was absolutely terrified about traveling to the US for my sister's wedding. Like everyone else has said, there's zero connection between IRS tax compliance and border control. I've traveled to the US multiple times while getting my tax situation sorted out, and it was never an issue. The border agents only care about your passport validity and standard security screening. I used the Streamlined Foreign Offshore Procedures to catch up on my filings. With your income level and the Foreign Earned Income Exclusion, you'll likely owe nothing. The process took about 6 weeks total, but I didn't wait to travel - I started the process after my trip. Your dad should be fine too. Retired expats are actually in a better position since pension income often has favorable tax treaty treatment. Just enjoy your Boston trip and deal with the tax compliance when you return. The anxiety is so much worse than the actual reality!

I added my father as a dependent on February 3rd, 2024, and received my refund on March 1st, 2024. That's 27 days total, which is about 10 days longer than my refund took last year without the new dependent. The IRS did send me a letter dated February 18th requesting verification, which I promptly provided on February 20th. Based on my experience and what I've seen with friends in similar situations, I'd say expect an additional 1-3 weeks beyond normal processing time, but it's not the months-long delay some people fear.

I completely understand your anxiety about adding a new dependent - I went through the same stress last year! The good news is that while new dependents do typically add some processing time, it's usually not the horror story delays you've been reading about. From what I've seen in this community and my own experience, you're looking at an additional 1-3 weeks beyond normal processing time, not months. The IRS has automated verification systems that cross-check your dependent's information, and if everything matches up properly (correct SSN, no conflicts with other returns, etc.), it should move through smoothly. Since you filed on 2/12 and got accepted on 2/13, you're still well within the normal timeframe even with the additional verification. Try to stay positive - most people with legitimate new dependents get their refunds without major issues, just with a bit of extra patience required! 🤞

I went through this exact scenario two years ago - CP05 notice followed by filing an amended return about a week later when I realized I'd missed a 1099-INT. I was terrified I'd made things worse, but it actually worked out perfectly fine. What happened in my case was that the IRS completed their original review first (took about 6 weeks from the CP05 date), and then a few weeks later they processed my amended return. The agent I eventually spoke to said having the amended return already in the system actually helped because it showed I was being proactive about correcting the error rather than trying to hide anything. My advice: Don't second-guess yourself. You did exactly what you should have done when you discovered the missing 1099-B. The worst thing would have been to know about the error and do nothing. Processing might take a bit longer, but you're on the right track.

You definitely made the right call filing that amended return! I know it feels scary having both processes running at once, but you're being responsible by correcting the error as soon as you caught it. I actually work in tax preparation and see this situation fairly often - missing 1099-B forms are one of the most common triggers for CP05 notices because the IRS computer systems automatically flag when reported income from brokerages doesn't match what's on your return. By filing the 1040-X proactively, you've likely addressed the exact issue that caused the review in the first place. The IRS systems are designed to handle overlapping processes like this. What typically happens is they'll either complete the original review first and then process your amendment, or they'll notice the amendment during the review and coordinate both. The main downside is just longer processing times - probably looking at 4-6 months total instead of the usual timeframes. But that's much better than facing accuracy penalties or having to deal with a more formal examination later. Keep checking both tracking tools online and stay organized with your paperwork, but try not to stress about the timing. You handled this exactly how you should have!