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IMO the checking thing is NBD compared to the actual issue - ppl filing questionable returns. The IRS has AI systems now that flag sus returns b4 they even get processed. If ur legit, ur good. If ur trying to game the system w/ fake biz expenses or claiming kids that aren't urs... that's what's causing delays for everyone. Not checking WMR too much lol. The real implications are for the whole system when fraudulent returns clog up the works. Checking ur status is just a symptom of anxiety, not the cause of delays.
Comparing my experience this year to last year confirms this. Last year I had a straightforward W-2 return and got my refund in 8 days flat. This year I have 1099 income, business expenses, and home office deductions - suddenly I'm at 31 days and counting. It's not because I'm checking more often, it's because my return is more complex and probably in a different processing queue.
Based on the 2024 filing season patterns I've observed, transcript updates most consistently happen on Thursday nights between 12am-3am ET, with refunds typically deposited on Wednesdays. Rather than checking multiple times daily, I'd recommend setting a calendar reminder for Friday mornings to check once weekly. If your return was accepted before February 15th, you should have seen movement by now. If accepted after March 1st, the normal processing time extends through April 22nd for straightforward returns. I understand the anxiety - we all want our money - but creating a structured checking routine might help manage the stress while also giving you accurate information.
Do these Thursday night updates apply to everyone or just certain processing centers? I've read somewhere that different regional centers have different update schedules. My return is processing in the Kansas City center if that matters.
From my experience working with clients across different regions, the Thursday night transcript updates are generally system-wide, but processing centers do have slight variations in timing. Kansas City typically processes between 1-3am CT (2-4am ET), so you might see updates slightly later than East Coast filers. The regional differences are more about which batches get processed first rather than completely different schedules. Have you noticed any pattern in when your transcript has updated in the past, or is this your first time monitoring it closely?
Has anyone considered the alternative minimum tax (AMT) implications here? When I exercised my ISOs a few years ago, I got absolutely destroyed by AMT because the paper gains pushed me over the threshold. I know NSOs are different since you pay ordinary income tax upfront rather than AMT, but the large income spike from a single exercise could still trigger other tax issues like phase-outs of deductions or credits.
AMT usually hits harder with ISOs than NSOs. With NSOs, you're paying ordinary income tax on the spread at exercise, which actually counts toward your regular tax and AMT equally. But you're right about the income spike - it can push you into higher brackets and phase out other benefits. One strategy I've seen is exercising across December/January to split the income between two tax years. Just be super careful about properly documenting the FMV at each exercise date since you're dealing with a private company valuation.
Another consideration worth mentioning - check if your option agreement has any restrictions on early exercise or transfer. Some private companies include provisions that let them repurchase your shares at cost if you leave the company within a certain period after exercise, which could wipe out the tax benefit you're trying to capture. Also, with a 409a valuation at $8 and projected IPO at $120, there's significant appreciation still expected. You might want to model out different scenarios - what if the IPO gets delayed or the valuation comes in lower than expected? The tax optimization has to be balanced against execution risk. One middle-ground approach: exercise enough options now to establish some cost basis at the current $8 valuation, then use cashless exercise for the remainder at IPO. This gives you some tax efficiency while limiting your cash outlay and risk exposure.
Ok maybe I'm crazy but try checking your transcript REALLY early in the morning like 3-4am EST. For some reason I could never see updates during regular hours but middle of the night I could see everything. IRS systems are weird.
can confirm this actually works! system updates overnight on thursdays/fridays
I'm going through the exact same thing! Filed March 8th, verified identity March 14th, and it's been radio silence ever since. My transcript is completely blank and WMR just says "still being processed" with no progress bars. Called twice and both reps told me the same thing - verification shows complete but to just wait longer. It's so frustrating not knowing if something is actually wrong or if this is just normal now. Really hoping we see some movement soon because I'm starting to stress that my return got lost somewhere in their system.
I got mine at 5:15 Eastern! DDD 3/12 with SunTrust. Maybe check again?
Just checked again and still nothing in my Chase account. Hopefully it comes through tonight!
I'm in the exact same boat - 3/12 DDD with Chase and nothing yet! I've been refreshing my account all day like it's going to magically appear. From what I'm reading here it sounds like Chase usually posts same day or next morning, so I'm trying to stay optimistic. The waiting is the worst part though, especially when you need the money for bills. Fingers crossed we both see it by tomorrow morning!
Victoria Scott
I verified by phone on February 20th. My transcript updated with code 846 on March 9th. Deposit hit my account March 14th. Total of 23 days from verification to money in account. Not great, not terrible. One thing - if you're using the money for visa fees, plan for delays. The IRS doesn't care about your deadlines. Have a backup plan for the money just in case.
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Jackson Carter
I went through this exact situation last month as a non-resident! I verified online on March 15th and got my 846 code on March 28th - exactly 13 days later. The refund hit my account 3 days after that. Here's what I learned: Online is definitely faster, but make sure you have backup documents ready. The system asked me questions about previous addresses going back 5 years, which was tricky since I've moved internationally. I had to have my old lease agreements and bank statements handy. For your May 20th deadline, if you verify this week, you should be cutting it close but likely okay based on the timelines people are sharing here. Just don't wait - every day counts when you're working with IRS processing times. And honestly, have a backup funding plan for those visa fees just in case there are unexpected delays. The IRS doesn't adjust their timeline for our life events, unfortunately. Good luck with the verification process!
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