Great question! I went through the same stress last year with my amended return. The Account Transcript is definitely your best friend here - it's like having a direct line into the IRS's processing system. When you log into the IRS website and pull your transcripts, make sure you're looking at the "Account Transcript" for 2024 (your current tax year). The key code you're hunting for is 846 "Refund Issued" - when that shows up with a date, that's your golden ticket. The date next to it is typically when the refund will hit your account (sometimes even a day or two earlier with direct deposit). Since you filed March 1st, you're still in the normal processing window. Keep an eye out for these codes: - 150: Your return was received and processed - 570: Temporary refund hold (don't panic if you see this - it's often routine verification) - 571: Hold released - 846: Refund issued (this is what you want to see!) Pro tip: Transcripts usually update overnight Tuesday into Wednesday, so Wednesday mornings are the best time to check for any changes. You should be seeing movement soon since you're coming up on the 21-day processing timeframe. Much better to be proactive this year than deal with the amended return nightmare again!

Just went through this exact process a few weeks ago! Filed on February 20th and was obsessively checking everything. The Account Transcript is 100% what you need - it's like having a backstage pass to see what's actually happening with your return. Here's what I learned from my experience: - Code 150 appeared first (return processed) - About 10 days later, got the dreaded 570 code which freaked me out - Called the IRS (after a 2-hour wait) and they said it was just routine income verification - Code 571 showed up exactly 2 weeks later releasing the hold - Code 846 appeared the next day with my deposit date - Money hit my account one day BEFORE the 846 date! The cycle codes are actually pretty cool once you understand them. Mine was 20240805 which meant processed in week 8 on a Friday. Since you filed March 1st, you're still well within the normal timeframe. Don't stress if you see a 570 code - it's way more common than people think and usually resolves itself. The key is just being patient and checking Wednesday mornings when transcripts update. You've got this!

LPT: if this happens again next year, try accessing the mySocialSecurity site very early in the morning (like 5-6am) or very late at night. Their servers get completely overloaded during tax season during normal hours. I couldn't log in for weeks during business hours, then tried at 5:30am and got right in!

As a tax professional, I want to emphasize that while these alternative solutions like taxr.ai and Claimyr might be helpful, the most important thing is accuracy. The IRS does allow you to report Social Security income without the physical SSA-1099 form, but you need to be absolutely certain of the amounts. If you received only two payments in 2023, you should be able to find the exact amounts on your bank statements or by checking your Social Security account online during off-peak hours (as others mentioned). The key is that whatever you report must match exactly what the SSA reports to the IRS. For future reference, SSA-1099 forms are typically available online by February 1st even if the mailed versions are delayed. But definitely try the early morning login trick - I've recommended this to many clients with success. Don't let a delayed form prevent you from filing on time, especially since you can always file an amended return later if needed.

As someone who's been through this exact situation, I'd strongly recommend getting some concrete numbers before making that truck purchase. With your $67k in 1099 income and that $16k annual tax hit, you're definitely in a position where smart vehicle deductions could make a real difference. Here's what I'd suggest: before you buy, calculate both scenarios with actual numbers. For the depreciation route on a $55k truck (assuming 80% business use), you're looking at potentially deducting around $44k in year one with Section 179. At your tax bracket, that could save you roughly $10-12k in taxes the first year alone. But here's the catch - you mentioned you're conservative with deductions and that's smart. Make sure you can genuinely justify that 80% business use percentage, because the IRS will want to see detailed records. If your actual business use is more like 60%, then your deduction drops accordingly. Also consider the cash flow impact. That truck payment might be $800-1000/month, but if you're saving $10k+ in taxes year one, it changes the math significantly. Just remember those big first-year savings mean smaller deductions in future years. Have you considered leasing instead? Sometimes the deduction structure works out better for contractors, especially if you like updating equipment regularly.

The 70% business use sounds much more realistic and defensible than 80%, especially if you're planning weekend personal use. The IRS loves to audit vehicle deductions, so being conservative here is smart. For leasing vs buying: With a lease, you deduct the business percentage of your monthly lease payments instead of taking depreciation. So if you lease for $600/month and use it 70% for business, you'd deduct $420/month ($5,040/year). The advantage is consistent annual deductions and no depreciation recapture issues if you switch vehicles. The downside is you don't own anything at the end, and there can be mileage restrictions that might not work for your equipment hauling needs. For your situation with lumpy 1099 income, the big first-year depreciation write-off might be more valuable since it hits that $16k tax bill hard right away. Just make sure you're prepared for smaller deductions in years 2-5. One more thing - since you're hauling heavy equipment, make sure whatever truck you get has the payload capacity you actually need. Don't let the tax tail wag the business dog. A truck that can't properly handle your work loads isn't worth any tax savings.

This thread has been incredibly helpful! I'm in a similar situation as Pedro but from the contractor side - I received both a 1099-K from Stripe and a 1099-NEC from my client for the same payments in 2024. What I found particularly useful from this discussion is understanding that this isn't necessarily a mistake, but rather an overlap in reporting requirements. Jake's explanation about ACH through Stripe creating this "middle ground" really clarified things for me. For other contractors dealing with this, I'd recommend keeping a spreadsheet that matches your invoices to both the 1099-K transactions and 1099-NEC amounts. This way you have clear documentation showing they represent the same income streams. I also plan to reach out to my clients proactively (like Dylan suggested) to discuss payment methods for 2025 to avoid this confusion next year. One question I still have: if I'm working with multiple clients who all pay through different platforms (some via Stripe, others through Square, etc.), should I expect to potentially receive multiple 1099-Ks plus individual 1099-NECs? The record-keeping is going to get complex pretty quickly.

As someone who recently went through this exact situation, I can confirm that what everyone is saying here is correct - you absolutely did the right thing by issuing the 1099-NEC even though Stripe issued a 1099-K. This is one of those unfortunate gaps in the current tax reporting system. What I learned from my CPA is that the IRS recognizes this overlap exists and has built-in systems to detect when the same income might be reported on multiple forms. The key is proper documentation - both you and your contractor should keep records showing that these represent the same payments, not additional income. For 2025, I'd suggest having a conversation with your contractors about payment preferences. Some of mine actually preferred switching to direct ACH transfers from my business account to avoid the 1099-K complexity altogether. Others were fine with the dual reporting as long as I gave them a heads up about what to expect. One tip that helped me: I now include a brief note on my 1099-NEC transmittals explaining that the contractor may also receive a 1099-K from the payment processor for the same amounts. It saves confusion and shows you're being proactive about compliance. Your contractor will probably appreciate the transparency!

Great question! I went through this exact same decision last year when starting my consulting business. Here's what I learned: A tax strategist is worth it if you're dealing with complex situations or significant income. For a small side business, I'd suggest starting with what others mentioned - ask your current CPA about proactive planning services first. Many CPAs can handle basic business tax strategy but just don't offer it unless you ask. However, if your CPA seems reactive only or doesn't have experience with your specific business type, a strategist could be valuable. The key is finding one who specializes in small businesses and e-commerce if that's your field. I'd recommend getting quotes from both - ask your CPA what they'd charge for quarterly planning sessions, and get a consultation with a tax strategist to see what they'd recommend. Compare the potential savings each claims they can achieve versus their costs. One thing to consider: as your business grows, your needs will change. Starting with enhanced services from your existing CPA might be the smart move initially, then upgrading to a specialist later if the business takes off.

I've been working as a tax professional for over 8 years, and I can tell you that the distinction between CPAs and tax strategists isn't always clear-cut. Many CPAs do provide strategic planning services, but you're right that some focus primarily on compliance and preparation. The real value of strategic tax planning becomes apparent when you're making major financial decisions - like starting a business, changing entity structures, or planning large purchases. For your e-commerce venture, there are several areas where proactive planning could save you money: timing of inventory purchases for tax purposes, setting up proper business entity structure from day one, maximizing home office deductions, and planning for when you might need to transition from sole proprietorship to an LLC or S-Corp. Before hiring a separate strategist, I'd echo what others said about talking to your current CPA first. Ask specifically: "What proactive tax planning services do you offer for new business owners?" and "Can you help us structure our business to minimize taxes as we grow?" If they seem uncertain or just offer basic compliance advice, then it might be time to look elsewhere. A good rule of thumb: if your combined household income plus expected business profit will exceed $100k, strategic planning usually pays for itself. Below that threshold, focus on the basics first - proper record keeping, understanding deductions, and quarterly estimated payments.