Code 840 is definitely a good sign! It means your refund has been issued and is now in the payment pipeline. From my experience, direct deposits typically show up 2-4 business days after the 840 code appears on your transcript. If you're getting a paper check, expect 1-3 weeks for delivery. The key thing is that the IRS has finished processing and approved your refund - now it's just about the banking/mailing logistics. You're almost there! Keep checking your bank account daily if you have DD set up.

Code 840 is fantastic news - it means your refund has been issued! You're basically at the finish line now. For direct deposit, expect 2-5 business days from when that code appeared. Paper checks take longer (1-3 weeks). I went through this same anxiety last year constantly refreshing my transcript. The hardest part is over - the IRS has approved and released your money, now it's just waiting for the banking system to do its thing. Check your account in the mornings, that's when most deposits seem to hit! 🎉

Thanks everyone for all the detailed recommendations! This has been incredibly helpful. I'm leaning towards the Fujitsu fi-8170 based on Molly's recommendation - the ultrasonic double-feed detection sounds perfect for our client document issues, and 70 ppm would be a huge upgrade from our current ancient scanner. @Skylar @Kelsey - the taxr.ai discussion is fascinating. I had no idea AI document processing had gotten that good for tax forms. Definitely going to look into that as an add-on once we get the new scanner up and running. @Norah @Jessica - same with the Claimyr service. We probably spend 10+ hours per week on IRS hold during busy season, so anything that can free up that time would pay for itself quickly. One more question for the group: for those using network-enabled scanners, do you have any security concerns with scanning sensitive tax documents over your office network? Our clients trust us with some pretty confidential stuff and I want to make sure we're not creating any vulnerabilities.

Just wanted to chime in as someone who went through this exact scanner shopping process last year! We ended up with the Fujitsu fi-8170 that Molly recommended and it's been fantastic. The speed difference during tax season was night and day compared to our old scanner. One tip I wish someone had told me - make sure to factor in the cost of replacement parts when budgeting. The pick rollers and separation pads need replacing every 200K-400K pages depending on usage. For the Fujitsu, a full maintenance kit runs about $150-200, which isn't bad considering how much we use it. Also seconding the security concerns Omar raised. We set ours up to scan directly to encrypted folders on our server rather than using cloud storage, just to keep everything in-house. The IT setup was straightforward but definitely worth having a professional configure it properly the first time. Good luck with whatever you choose - any of the scanners mentioned here will be a huge upgrade from what you're currently dealing with!

I verified my identity on February 23rd, 2024. My transcript showed no updates until March 15th. Refund was issued on March 22nd. The IRS representative I spoke with on March 10th confirmed my verification was approved on February 28th, but it took 15 more days to appear on my transcript. Your experience matches the typical pattern this tax season - verification approval takes 3-5 days internally, but transcript updates take 3-4 weeks, and refund issuance takes another 7-10 days after transcript updates.

I'm going through the exact same verification nightmare right now! Verified my identity on March 1st and still absolutely nothing on my transcript - it's been 8 days and counting. The "as of" date hasn't budged from February 24th. Reading through everyone's experiences here is both reassuring and terrifying at the same time. It sounds like I need to mentally prepare for potentially 6-9 weeks of this waiting game? Has anyone found any reliable way to track the progress beyond just obsessively checking the transcript daily? I'm starting to wonder if I should call now or wait a few more weeks to avoid potentially slowing things down further.

Brandon, based on your employee structure and salary ranges, you're definitely going to need to navigate these tests carefully. With yourself at $190k and potentially 2-3 managers over the $150k threshold, you'll have a significant HCE group relative to your total workforce. One thing I'd recommend is tracking your contribution rates monthly rather than waiting until year-end. We learned this the hard way after failing ADP testing two years running. Your 8 out of 12 participation rate is actually pretty solid, but what matters more is the actual deferral percentages. A few practical tips from our experience: encourage your non-HCE employees to contribute at least 3-6% if possible, consider implementing automatic enrollment with an opt-out (this really helps boost non-HCE participation), and maybe look into adding a small match even if it's just 1-2% - it incentivizes participation among your lower-paid employees which helps balance the averages. The Safe Harbor route that others mentioned is worth serious consideration for 2026 if you want to eliminate this headache entirely. Yes, it costs more upfront with the required matching, but the peace of mind and ability for your high earners to max out contributions without worry often makes it worthwhile for small businesses like ours.

Brandon, you're in a pretty typical situation for small businesses. With your salary structure, you'll definitely have some HCEs to manage in the testing. Here's what I'd focus on immediately: First, get clarity on your exact HCE count. For 2025 testing, anyone who earned over $150k in 2024 OR owns more than 5% of the business qualifies. So that's likely you plus 1-2 of your managers depending on their exact 2024 earnings. The key insight most small business owners miss is that the tests look at actual deferral percentages, not dollar amounts. So if your HCEs are contributing 10% and your non-HCEs are only contributing 3%, you'll likely fail even with good participation rates. My recommendation: start tracking this quarterly. Have your payroll provider or 401k administrator run preliminary ADP calculations every few months. This gives you time to either encourage non-HCE contributions (through education, small bonuses, or matches) or ask your HCEs to dial back their contributions if needed. Also consider the "top-heavy" test - if your key employees (owners + officers + highest paid) account for more than 60% of total account balances, you'll need to make additional contributions to non-key employees. This often catches small business owners off guard in year 2-3 of their plan. The testing isn't as scary as it sounds once you understand the mechanics, but definitely stay proactive about monitoring throughout the year.

Has anyone considered the "claim of right" doctrine as an alternative to Form 4684? If you included the money that was stolen in your income in a prior year, you might be able to take a deduction under Section 1341 instead of as a theft loss.

I'm really sorry to hear about the wire transfer fraud - that's devastating for any small business. Based on what you've described, you should definitely be able to claim this as a business theft loss on Form 4684 Section B since it occurred in your partnership LLC. A few key points for your situation: 1. **Multi-year spreading**: Yes, if the loss exceeds your business income, you can carry it forward as a Net Operating Loss (NOL) indefinitely under current rules, though limited to 80% of taxable income each year. 2. **Partnership flow-through**: The loss will flow through your Schedule K-1s to your personal returns. Since it's a business loss, your $175k AGI won't limit the deduction like it would for personal casualty losses. 3. **Documentation is crucial**: Make sure you have a police report, bank documentation of the fraudulent transfer, correspondence about recovery efforts, and evidence of the criminal intent behind the fraud. One thing to verify - make sure the wire transfer truly meets the IRS definition of "theft" (criminal taking through deception/false pretenses). Wire fraud typically qualifies, but having solid documentation of the criminal nature is essential. Consider consulting with a tax professional who has experience with partnership returns and theft losses, especially given the significant amount involved. The IRS may scrutinize larger theft loss claims more closely.