I'm in a similar situation - filed 11 days ago and still waiting for my verification letter. The uncertainty is definitely stressful when you're expecting your refund! From everything I've read here, it sounds like 10-14 business days is the normal timeframe, but mail delays can definitely push it longer. I've been checking my mailbox obsessively too. One thing that's helped ease my anxiety is remembering that this verification process is actually a good thing - it means the IRS is working to protect us from identity theft and fraud. Even though it's frustrating to wait, it's better than having someone else file a fraudulent return in our name. I'm going to take the advice from others here and wait the full 14 business days before requesting a resend. And definitely signing up for USPS Informed Delivery so I can at least see what's coming in the mail each day instead of just wondering. Thanks to everyone who shared their experiences and timelines - it really helps to know we're not alone in this process!

I'm dealing with this exact same situation right now! Filed my return 9 days ago and got flagged for verification. The waiting is definitely nerve-wracking, especially when you're counting on that refund. From reading everyone's experiences here, it sounds like the 10-14 business day timeframe is pretty standard, though mail delays can definitely extend it. I've been checking my mailbox every day hoping to see that IRS envelope! One thing I'm going to do based on the suggestions here is set up USPS Informed Delivery so I can at least see what's coming each day instead of just wondering. And I'll definitely wait the full 14 days before requesting a resend since the system won't process it earlier anyway. It's actually somewhat comforting to know this is such a common experience and that so many people have successfully gotten through the verification process. The anxiety of not knowing what's happening with your return is real, but it sounds like patience is really the key here. Thanks to everyone for sharing their timelines and experiences - it really helps to know we're all in this together!

Did they withhold any taxes from your paychecks? If not, and you made under $600, then I don't think you'd get a W-2 anyway but rather a 1099. But restaurants typically put all workers on payroll as employees (W-2). If they did withhold taxes, you definitely want to track this down because you might actually be owed a refund of those withheld amounts!

I went through something very similar when a small retail store I worked at during college closed suddenly. Here's what I learned from that experience: First, definitely try the IRS wage and income transcript - you can request it online at irs.gov. Even if the business is gone, they may have filed your W-2 before closing. If that doesn't work, check your state's Secretary of State business database. You can usually search by business name and find the registered agent or owner information. Sometimes they're required to maintain contact info even after dissolution. Also, try reaching out to your state's Department of Labor or wage and hour division. They sometimes have records of businesses that have closed and can help track down former owners for employment-related issues. If all else fails, Form 4852 is your backup. Keep any documentation you have - pay stubs, bank deposits, anything that shows your earnings. The IRS accepts reasonable estimates when the employer fails to provide proper documentation. And yes, you do need to report all W-2 income regardless of the amount - there's no minimum threshold for employee wages like there is for contractor payments.

I noticed something weird with my multiple 1098 situation - the points listed in Box 6 on my first lender's form disappeared when the loan was sold. I paid about $3,200 in points when I first got the mortgage, but after the transfer, the new lenders' 1098s don't show this. Is this normal? Do I still get to deduct the full points amount even though it only appears on one form?

I had a similar mortgage transfer nightmare - mine was sold 4 times in 18 months! Here's what I learned after going through this mess: First, double-check that none of your 1098 forms have overlapping interest periods. When loans transfer, sometimes there's a gap or overlap in reporting dates. I found one case where two lenders reported interest for the same 10-day period, which would have inflated my deduction. Second, keep all your mortgage statements from the entire year, not just the 1098s. If the IRS ever questions your deduction, those monthly statements will show the actual payment history and help verify the interest amounts are correct. Also, if any of your transfers happened late in the year, make sure the final 1098 includes all interest paid through December 31st. I had one lender who only reported interest through the date they sold the loan, missing about 6 weeks of payments I made to them before the transfer was complete. The good news is that once you get all the forms entered correctly, TurboTax will handle the math and combine everything for your Schedule A. Just be thorough with the data entry!

Just a heads up that the person BUYING the property in this scenario also needs to consider tax implications. When my mom sold me her house below market value, I didn't have to pay gift tax (that was on her), but when I eventually sold the property years later, I had to use HER original basis for calculating capital gains, not the discounted price I paid. This is called "basis carryover" for related party transactions and it really surprised me at tax time.

One important thing I haven't seen mentioned yet is the timing aspect of getting your appraisal. The IRS expects the fair market value to be determined as close to the transaction date as possible. If you're using an appraisal that's several months old, they might question its validity, especially in a volatile real estate market. Also, make sure your appraiser knows this is for a family transaction that will likely involve gift tax reporting. Some appraisers will note this in their report and provide additional documentation about their methodology, which can be helpful if the IRS ever questions the valuation. I learned this the hard way when my first appraisal didn't have enough detail and I had to get a second one specifically for tax purposes. The key is having rock-solid documentation for every aspect of this transaction - the appraisal, the reasons for the below-market sale, and proper filing of all required forms. It's definitely worth consulting with a tax professional who has experience with family property transfers before you proceed.

Has anyone used TurboTax Business to file their single-member S corp return? Can it handle the K-1 generation properly? I'm trying to decide between doing it myself or paying my accountant $950 to file it all.

I went through this exact same situation when I formed my single-member S corp two years ago. Yes, you absolutely need to issue yourself a Schedule K-1 even though you're the only shareholder. The S corporation is a pass-through entity, so all income, deductions, and credits flow through to you as the owner via the K-1. Think of it this way: your W-2 shows the salary you earned as an employee of the corporation, while the K-1 shows your share of the business profits/losses as the owner. These are two different capacities - employee vs. shareholder - so you need both forms. The K-1 will report things like your share of ordinary business income, any rental income if you have it, business deductions that pass through to your personal return, and various credits. Make sure when you prepare the 1120-S that you're consistent between what's reported on the corporate return and what flows to your K-1. The IRS matches these up, so any discrepancies will trigger questions.