Your filing date matters too. When did you submit? If it was after Feb 1st its gonna take a min to show up in the system

Don't panic! What you're seeing is completely normal for early filers. The "RETURN NOT PRESENT FOR THIS ACCOUNT" message along with all the blank fields just means your return is still being processed by the IRS. The 4464C letter is actually a good sign - it means they have your return and are actively working on it. I had the exact same situation last year. Filed in early February, got the 4464C letter, and my transcript looked identical to yours for about 3 weeks. Then suddenly all the codes appeared and my refund was issued within a few days after that. The key thing is that your transcript shows your filing status (Head of Household) which proves the IRS has received your return. Just be patient - you should see transaction codes like 150 (return filed) and 846 (refund issued) appear in the next couple weeks. Check back every Friday morning when transcripts typically update.

Hey Connor, I totally understand the stress you're going through - been there myself. WMR can update on weekends, but it's inconsistent. From what I've observed, when weekend updates do happen, they're usually early morning (around 3-6am EST). However, don't rely solely on WMR - it's notoriously unreliable this season. Here's what I'd suggest: 1) Check your tax transcript online instead - it updates more frequently than WMR, 2) Call the Taxpayer Advocate Service at 1-877-777-4778 with your eviction notice - they handle hardship cases and can sometimes expedite refunds, 3) Keep documenting everything with your landlord for your records. I know the waiting is brutal when your housing is at stake. Try to check transcripts rather than burning yourself out refreshing WMR every few hours. Sending positive thoughts your way! 🙏

I feel for you Connor - the anxiety of waiting for a refund when facing eviction is absolutely overwhelming. From my experience, WMR does update on weekends but it's pretty sporadic. I've seen updates happen anywhere from Friday night to Sunday evening, but the most common time seems to be early Saturday morning around 4-5am EST. That said, don't drive yourself crazy checking every few hours - I made that mistake and it just added to my stress. The transcript method others mentioned is definitely more reliable. You can access it at irs.gov/individuals/get-transcript and it usually shows movement before WMR does. Given your urgent situation with the eviction notice, definitely contact the Taxpayer Advocate Service ASAP. They specifically help taxpayers facing economic hardship and can sometimes push your refund through faster. Have that eviction notice ready as proof of hardship. Also, keep doing those DoorDash shifts if you can - every bit helps and shows good faith effort to your landlord. Document all your attempts to pay rent and communicate with your landlord in writing. This creates a paper trail that could be helpful later. Hang in there - I know it's terrifying but you're taking all the right steps. Many of us have been in similar spots and made it through. 💪

I just want to point out that depending on what state you're in, you might face significant transfer taxes even if you avoid federal income tax. When we transferred property between related LLCs in Pennsylvania, we were hit with a surprise 2% transfer tax even though it was essentially the same ownership. Some states have exemptions for related entity transfers, but many don't. Worth checking your state's specific rules before proceeding.

One thing I haven't seen mentioned yet is the potential impact on depreciation recapture. Since you mentioned the property has appreciated from $675k to $950k over 6 years, you've likely been taking depreciation deductions on the commercial building. Even if the transfer itself qualifies as a non-taxable event under Section 721, you need to consider what happens to the depreciation basis. The receiving LLC will generally take a carryover basis, which means any future sale could trigger depreciation recapture at ordinary income rates (up to 25% for real estate). Also, make sure you're aware of the "hot asset" rules under Section 751. Commercial real estate can sometimes have components (like personal property fixtures) that are treated differently for partnership tax purposes. Given the complexity with the debt, different ownership percentages, and potential state transfer taxes others have mentioned, I'd strongly recommend getting a written tax opinion from a qualified professional before proceeding. The cost of the opinion will be minimal compared to the potential tax consequences of getting this wrong.

Something nobody's mentioned yet - if your bonus pushes your annual income over certain thresholds, you might actually lose some tax credits or deductions. That happened to me last year - my bonus pushed me over an income limit that reduced my student loan interest deduction. So in some cases you might actually pay a bit more in overall taxes because of a bonus, not just higher withholding.

This is such a common frustration! I went through the exact same thing with my year-end bonus last month. The key thing to remember is that the high withholding you're seeing (that 40%) is just your employer being overly cautious - it's not the actual tax rate you'll pay on the bonus. Most employers use the "aggregate method" which treats your bonus like it's your regular weekly/monthly pay. So if you got a $10,000 bonus, they withhold as if you make that much every pay period all year long, which temporarily bumps you into a much higher tax bracket for withholding purposes. When you file your taxes, that bonus just gets added to your regular income and taxed at your normal marginal rates. So if you're truly in the 24% bracket, that's what you'll actually pay on the bonus income. The extra withholding becomes a nice refund! I know it stings to see so much taken out upfront, but think of it as forced savings that you'll get back with interest (well, without interest, but you get the idea). At least you won't owe anything come April!

Your roommate needs to file a 1040-X (amended return) immediately and pay back the extra refund he received from falsely claiming the dependent. He's committed tax fraud, plain and simple. The IRS matches Social Security numbers on tax returns, so they will eventually notice that this kid was claimed by someone with no relation and no history of claiming them before. They may also investigate whether the parent was involved in selling the dependent claim. Both your roommate and the neighbor could face serious consequences. In addition to penalties and interest, tax fraud can be prosecuted criminally with up to 3 years imprisonment for each false statement. The $400 payment creates evidence of willful intent to defraud, which makes it much worse.

One thing nobody's mentioned yet - your roommate should NOT contact the neighbor about this! He needs to fix his return independent of whatever the neighbor does. Reaching out could be seen as conspiring to get stories straight, which makes everything worse. Also, your roommate should NOT spend that refund money! The IRS will want it back plus interest, and possibly penalties. He should set aside the entire amount related to the false dependent claim so he can return it when he files the amended return. The Earned Income Credit alone for falsely claiming a child can be thousands of dollars. The IRS specifically targets EIC claims for audits because it's so frequently abused.