I've been tracking SBTPG patterns for the past three tax seasons and here's what I've observed: They typically do their main processing batch between 2-4 AM Eastern, but they also have smaller update cycles around 11 AM and 6 PM. The frustrating part is that their status page often lags behind actual processing by 6-12 hours. I've had refunds show "pending" online while the money was already in transit to my bank. My advice? Check your bank account directly rather than relying solely on their tracker - you might be pleasantly surprised to find your refund has already arrived even when SBTPG's website hasn't caught up yet.

I'm dealing with the exact same situation right now! Filed through TurboTax, got IRS approval on Tuesday, and it's been radio silence from SBTPG since then. What's really frustrating is that I can track a pizza delivery in real-time, but my tax refund just disappears into this black hole between government agencies. Based on what everyone's sharing here, it sounds like 2-5 business days is pretty normal, but man, when you're waiting for that money it feels like forever. I'm going to try checking my actual bank account instead of obsessing over their tracker - sounds like the status page isn't always accurate anyway. Thanks for asking this question because I was starting to think something was seriously wrong with my refund!

Has anyone actually had the IRS come after them for this specific issue? I've been using W8BEN for my Singapore company for 3 years now and just learned from this thread I should be using W8BEN-E! Need to know how urgent this is to fix...

I went through almost the exact same situation with my German GmbH! Used W8BEN for nearly 3 years after incorporating before realizing my mistake. What really helped me was documenting everything - when I discovered the error, when I submitted corrected forms, and keeping records of all payments received during that period. From my research and speaking with a cross-border tax specialist, the key factors that work in your favor are: 1) You were still properly certifying your non-US status (just on wrong form), 2) You corrected it as soon as you realized, and 3) The US platforms likely applied correct withholding rates anyway since UK individuals and UK corporations often get similar treaty treatment. The IRS tends to focus on cases where taxes were actually avoided or where there's clear intent to deceive. Your situation sounds like a genuine administrative oversight that you've now corrected. I'd recommend keeping good documentation but not proactively contacting the IRS unless you discover actual withholding discrepancies in your payment history.

Question about crypto tax reporting software - has anyone used TaxBit, CoinTracker, or Koinly for situations like this? I'm dealing with something similar from 2022 trades but have about 300+ transactions. Not looking forward to entering all that manually.

This is exactly why crypto tax situations can be so confusing! The IRS automated systems just see the gross transaction amounts from exchanges without the context of your actual cost basis. It's really common for people to get these notices even when they had losses. I'm glad to see from your update that everything got resolved! For anyone else dealing with similar issues, the key is having good documentation of your actual transactions showing the purchase prices, sale prices, and dates. The 1099 forms from exchanges often don't tell the complete story. One thing I learned from my own crypto tax issues is that it's worth reporting losses even if you think you don't need to - they can actually be beneficial for offsetting other gains or reducing ordinary income up to $3,000 per year. Plus it prevents these kinds of automated notices from the IRS in the first place.

make sure to check your WMR too sometimes it updates b4 transcripts

Congrats on finally getting your 846! That's such a relief after waiting since May 2024. The timeline definitely makes sense - your amended return was completed on 1/16 and now you have a DDD of 2/14, which is pretty typical processing time. You should definitely see that $4,872 hit your account on or around 2/14. The fact that it went from processing to 846 so quickly after completion is a really good sign. Hang in there, you're almost at the finish line! 🎉

I just want to point out that even though you had minimal profit/loss, you still legally needed to report every transaction. The IRS considers each crypto sale a taxable event regardless of whether you made or lost money. My brother thought the same way - "why report if I basically broke even?" - and ended up with a much worse situation when they came after him 3 years later with compounded penalties. Don't mess around with the IRS - they have unlimited time and resources to come after you.

I went through almost exactly this situation in 2020! The panic you're feeling is totally understandable, but this is actually a pretty common issue that the IRS deals with regularly. First thing - don't ignore that letter. The 30-day response window is real, but the IRS is generally reasonable when you're being proactive about fixing genuine mistakes. Since you mentioned you basically broke even or had a small loss, you'll want to gather all your transaction records from the trading platform. Most apps let you download a complete transaction history even from years back. You'll need this to calculate your actual cost basis for each trade. The key forms you'll need are Form 8949 (to report each crypto transaction) and Form 1040-X (amended return) for 2019. When you show the IRS your actual cost basis, it should demonstrate that you didn't have the massive gains they're assuming. Pro tip: Include a brief letter explaining this was an honest oversight on your first time dealing with crypto taxes. The IRS often shows leniency on penalties for first-time mistakes, especially when there's minimal or no actual tax owed. You've got this - it's way more fixable than it feels right now!