Looking at your transcript, the 570 code with the March 3rd date is likely related to income verification since you have EIC and multiple credits. The $0.00 amounts are normal during processing - they'll populate once the review is complete. Your cycle 20250605 means you're in a weekly processing cycle, and with the dates you're showing, you should see movement by mid-March if everything checks out. The combination of codes 806, 766, and 768 all dated April 15th suggests they're verifying your W-2 info and credit eligibility. I'd give it another week or two before worrying. The 570 freeze is frustrating but pretty common with EIC claims. You'll know things are moving when you see a 571 code (hold released) on your transcript.

I'm seeing a lot of mentions of taxr.ai in this thread - has anyone actually verified this is legit? I'm always skeptical of tools that ask you to upload sensitive tax documents, especially when they're being promoted so heavily in comments. For what it's worth, I've dealt with 570 codes before and they usually resolve on their own within the timeframe the IRS gives you (typically 2-4 weeks from the hold date). The $0.00 amounts are definitely normal during processing - I freaked out about the same thing last year only to have everything populate correctly once the hold was released. Sean, your March 3rd date means you should see movement soon if it follows typical patterns. The combination of EIC and other credits often triggers these verification holds, but as long as your info is accurate, it should clear without any action needed from you.

Definitely look into an Offer in Compromise if your financial situation is genuinely tough. My brother owed $37k and got it settled for about $8k because he could prove he didn't have the means to pay the full amount due to long-term income issues. The key is being COMPLETELY honest about your finances and being thorough with the application. They'll want to know everything about your assets, income, and expenses. If you hide anything, they'll reject your offer immediately. It's also a pretty lengthy process - took my brother about 9 months from application to acceptance. But if you qualify, it can save you thousands.

Thanks everyone for all this detailed information! This is exactly what I needed to hear. Based on what you've all shared, it sounds like I have a few realistic options. Given my situation - $18k debt, reduced income from job loss, and the bankruptcy - I'm thinking an installment agreement might be my best bet to start with. The 72-month timeline seems manageable with my current budget, and I like that I can pay extra when possible to reduce the overall interest. I'm definitely going to check out taxr.ai to get a better understanding of my specific options before I contact the IRS. And if I can't get through on the phone, I'll try Claimyr since multiple people here had success with it. One follow-up question - for those who went through this process, did having an active installment agreement or resolved tax debt help when you applied for a mortgage? I'm hoping to buy a house in about 18 months and want to make sure I'm positioning myself well for that. Really appreciate all the advice - this community has been incredibly helpful!

OP, I was in a slightly smaller but similar situation. Owed about $35k and hadn't filed for 2 years. Here's what worked for me: 1. Find a good CPA but not a "tax resolution" specialist - I paid $350 per unfiled return 2. File all back tax returns ASAP 3. Apply for first-time penalty abatement on your own (if you had a clean record for 3 years before 2021) 4. Set up the installment agreement yourself online after returns are processed The Fresh Start Program is just marketing language for normal IRS procedures. Anyone charging $9.5k is taking advantage of your fear. The IRS website has all the forms and instructions. With your new income, you won't qualify for an Offer in Compromise, so don't waste time pursuing that. Your best bet is getting on a payment plan with the longest term possible while you tackle the credit card debt. I got about $4k in penalties removed with a simple phone call requesting first-time abatement. The interest couldn't be removed, but at least the penalties stopped growing once I filed the returns.

As someone who works in tax compliance, I want to emphasize a few critical points that haven't been fully addressed: First, you mentioned that 20% of your stock was "automatically sold at vesting to cover taxes" - this is crucial information for your CPA. Make sure they understand the exact timing of when shares vested versus when they were sold, as this affects whether you have additional compensation income or capital gains/losses to report. Second, regarding that $20k payment you made that never got withdrawn - you should be able to see this as a credit on your account once you file your 2021 return. The IRS likely applied it to your account but couldn't process the installment agreement without a filed return to reference. Third, don't let anyone pressure you into quick decisions about Offers in Compromise. With your current income trajectory ($280k base plus stock/bonuses), the IRS will calculate that you can pay the full amount over time. The OIC process is lengthy, expensive to apply for ($205 application fee plus 20% of offer amount upfront), and has a very low acceptance rate for high earners. Your best path forward is exactly what others have suggested: file the returns through your CPA, request first-time penalty abatement if you qualify, and set up a manageable installment agreement. The IRS generally allows up to 72 months for balances over $50k, which would put your monthly payments around $1,200-1,400 depending on interest and remaining penalties. The key is getting compliant first, then addressing the payment structure. Don't let tax resolution companies capitalize on your stress - this is a solvable problem that doesn't require their expensive services.

Quick tip from someone who worked in tax prep: File the unfiled returns ASAP using the actual forms for each tax year (don't use current year forms for past years). You can download prior year forms from the IRS website. The sooner you file, the sooner you'll get any refunds you're entitled to. Also, you might need to mail in prior year returns rather than e-file them. And if you're missing W-2s or other tax documents, you can request a "Wage and Income Transcript" from the IRS which shows all information reported to them under your SSN. You can request this online through the IRS website by creating an account at irs.gov.

I'm dealing with a very similar situation right now - about 3 years behind on filing with taxes withheld from my paychecks the whole time. The stress and embarrassment kept me from dealing with it, but I finally started the process last month. One thing I learned that might help you: even though you're probably owed refunds, the IRS may have already filed substitute returns (called Substitute for Return or SFR) on your behalf if you're far enough behind. These automated returns don't include deductions or credits you're entitled to, so they often show you owing money even when you'd actually get refunds if you filed properly. I discovered this when I finally called the IRS and found out they had filed SFRs for two of my missing years, showing I owed about $3,000 total. But when I filed the actual returns with my W-2s and standard deductions, I was actually owed refunds for both years. So don't panic if you get scary notices - just get those proper returns filed as soon as possible to correct the record. The key is acting quickly before more time passes and you lose eligibility for refunds you're entitled to.

Has anyone here used TurboTax to handle the Form 8815 for excluding savings bond interest? I'm trying to figure out if their software handles this correctly or if I need to go to a professional this year. Never done this savings bond exclusion thing before and I'm a little nervous about messing it up.

Just wanted to add one important detail that I learned the hard way - make sure you understand the income phaseout limits before you commit to this strategy. The exclusion phases out completely for married filing jointly couples with MAGI over $175,200 (for 2025), and starts phasing out at $145,200. What caught me off guard was that the bond interest itself gets added to your MAGI when you redeem the bonds, which could potentially push you into or further into the phaseout range. So if you're close to that $145,200 threshold, make sure to calculate whether the additional bond interest will reduce or eliminate your exclusion. I almost made this mistake with about $15,000 in bond interest that would have pushed my MAGI too high. I ended up splitting the redemptions across two tax years to stay under the limit. Just something to keep in mind when planning your timing!