I used FreeTaxUSA Pro last season and it was decent for basic returns. The interface isn't as polished as the big names but it gets the job done. State returns are extra though, like $15 each.

Good point! I wasn't planning to charge anything since I'm just getting experience, but I'll look into getting a PTIN anyway to do things properly.

Your gig work from Uber and DoorDash shouldn't go on Line 1h. That income is considered self-employment income and should continue to be reported on Schedule C. The "Other earned income" on Line 1h is generally for earnings that are treated as wages but don't fit in the other categories. As a self-employed gig worker, you'll still report your income and expenses on Schedule C, calculate your net profit or loss, and then that flows to Schedule 1 and ultimately to Form 1040. These changes to Line 1 don't change the fundamental way gig workers report their income.

Tax software companies update their programs every year based on IRS changes. TurboTax, H&R Block, and other major tax software should have all the new form changes implemented before filing season begins. They usually start updating their systems as soon as the IRS finalizes the forms.

Thank you for the detailed explanation! I called Chase this morning and they said there's no specific hold, but they do have a standard processing time for ACH transfers. The customer service rep told me the money should be available tomorrow, which is 3 days before the settlement date. That matches what you're saying about them making funds available before actual settlement.

Glad to hear it's working out! That's typical for Chase. They usually release tax refund funds within 1-2 business days of receiving the ACH notification, regardless of the settlement date. The settlement date is more about the backend banking processes than when you can access your money. If you want to avoid this next year, some tax preparation services offer options to receive your refund on a prepaid card which sometimes posts a bit faster than traditional bank ACH transfers. Though personally, I think waiting an extra day or two for the money to hit your regular account is worth avoiding the fees those cards sometimes charge.

This is great advice! I work at a credit union and we do make government deposits available immediately, but many people don't realize that policies vary drastically between financial institutions. Another tip: if you file very early in tax season, refunds can sometimes take longer to process even after showing as "pending" because the IRS and banks are dealing with high volumes.

That's a really good point I hadn't thought about. Do you know if this restriction is common in most company option plans? I'll have to go back and read the fine print on my grant documents.

In my experience, it's fairly common for private companies to have some transfer restrictions. Most option plans allow transfers to family trusts or estate planning vehicles with notice to the company, but often prohibit transfers to third parties without approval. The reason is that companies want to control who their shareholders are, especially while private. If you're planning to transfer to a trust, review your option agreement and stock option plan carefully. Look for sections titled "Transfer Restrictions" or "Transferability." Sometimes you just need to give written notice to the company, other times you need formal approval from the board or compensation committee.

Wait I thought 83(b) elections were only for restricted stock, not options? I'm confused because my accountant told me options aren't eligible for 83(b) since they're already taxed at exercise.

Thanks for mentioning this! I didn't realize there was a checkbox specifically for multiple jobs. Do you know if checking that box results in the same withholding as calculating the extra amount manually? I'm wondering if one method withholds more accurately than the other.

The checkbox generally works well if both jobs have similar pay levels. It essentially tells your employer to withhold taxes as if you're single (which is higher) rather than married, which compensates for having two incomes. If there's a big difference between your incomes, or if you have other income sources like investments or rental properties, the manual calculation might be more accurate. The checkbox is basically a simpler but slightly less precise approach. I chose it because I didn't want to recalculate every time we got raises or bonuses - the checkbox automatically adjusts when your income changes.

I've used it for three years straight and it's been pretty accurate for me. Last year it predicted a $720 refund and we got back $678. The year before it was within about $200. You have to make sure you're including ALL income sources though. If you have investments, side gigs, or anything that doesn't have withholding, that could explain why your results were off.

Thanks for sharing your experience. Maybe I need to check my inputs more carefully this time. I think part of the problem might have been that I got a bonus halfway through the year that messed up the calculations, and I also had some stock sales I didn't account for properly. I'll try the calculator again and make sure I'm including everything. It's reassuring to hear it can actually be accurate when used correctly!