If you're really anxious and it doesn't show up by tonight, you can always call TurboTax directly. But honestly, calling the IRS directly is sometimes faster if there's an actual issue. I used Claimyr (https://claimyr.com) last year when my deposit was showing sent but hadn't arrived after 2 days. Got through to an agent in like 15 minutes who confirmed it was sent and helped me track it down. Turns out my bank had flagged it for review.

I totally get the anxiety! I've been waiting for TurboTax card deposits for years and it's always nerve-wracking. In my experience, they usually hit between 2-6pm Eastern, but I've seen them as late as 8pm on busy days. Since WMR shows sent today, you should definitely see it by tonight. The good news is that once it shows "sent" on WMR, TurboTax is pretty reliable about getting it to your card the same day. Try to stay busy and stop refreshing - I know it's easier said than done! 😊

Make sure when you get this fixed that you also check state taxes! If they reported the higher income to the IRS, they probably did the same on state returns. My tax guy made a similar mistake and I focused so much on fixing the federal return that I completely forgot about state taxes until months later.

This is exactly why I always recommend doing a quick sanity check on your tax return before signing off on it. A $36,000 difference in income should have been caught immediately - that's a massive red flag that any competent preparer should have noticed. Beyond getting your money back from the preparer, make sure you're documenting everything for potential future issues. Keep copies of all communications with them, the original incorrect return, the corrected return, and any receipts for additional costs you incurred. If they refuse to make this right, you might want to check if they're enrolled with the IRS (you can search their database) and file a complaint if they are. Also, consider leaving detailed reviews on Google, Yelp, and the Better Business Bureau once this is resolved. Other taxpayers deserve to know about this level of carelessness. A simple data entry error that costs someone $11,000 is not acceptable professional service.

The new layout actually makes more sense once you learn it. Account transcript shows processing, Return transcript shows what you filed, Wage transcript shows income docs, Record of Account has everything combined. Its actually more organized now imo

Honestly the IRS website has always been a nightmare to navigate but this year seems especially bad. I spent way too long trying to figure out which transcript to check too. At least now I know it's the Account Transcript - wish they would just make it clearer on the actual site instead of making us guess!

Has anyone here actually been audited specifically about their solo 401k contributions? I'm curious what the experience was like. Did they just ask for statements or did they dig deeper?

The key thing to remember is that the IRS doesn't need real-time reporting to verify your solo 401k contributions - they have other ways to check during audits or reviews. Your financial institution maintains detailed records of all transactions, and these can be requested by the IRS at any time. What's really important is maintaining a clear paper trail. This means keeping bank statements showing transfers from your business account to your solo 401k, your contribution calculation worksheets (especially for the employer portion based on net self-employment earnings), and your account statements showing when deposits were received. Also, the IRS has data matching capabilities that can flag inconsistencies. If you're claiming large retirement contributions but your reported business income doesn't support those amounts, that's likely to trigger additional scrutiny. Make sure your claimed contributions align with your actual net earnings from self-employment - the employer contribution portion is limited to 25% of your net self-employment earnings (after deducting half of your self-employment tax). I'd recommend keeping both digital and physical copies of all documentation, and consider working with a tax professional if your situation is complex. The peace of mind is worth it when dealing with retirement account compliance.

One thing no one's mentioned yet - are you making estimated quarterly tax payments? If not, some of that high "tax" might actually be penalties for underpayment throughout the year. The IRS expects self-employed people to pay taxes quarterly, not just at tax time. The first year I was self-employed I had NO idea about this and got hit with a bunch of penalties!

Looking at your numbers, that 40.5% rate is definitely combining your income tax and self-employment tax together. Here's what's likely happening: Your actual federal income tax on $23,285 should only be around 10-12% (roughly $2,300-2,800). The big shock is the self-employment tax - that's an additional 15.3% on your net business earnings of about $49,572, which comes to roughly $7,500. Combined, that gets you to your $9,430 total. The "blended rate" your software is showing includes both taxes, which is why it looks so scary high. This is totally normal for self-employed folks - we pay both the employee AND employer portions of Social Security/Medicare taxes. A few things that might help reduce this for next year: - Max out business deductions (home office, mileage, equipment, etc.) - Consider a SEP-IRA or Solo 401k to reduce taxable income - Make sure you're taking the QBI deduction if eligible - Start making quarterly estimated payments to avoid penalties The math checks out unfortunately - self-employment tax is just brutal when you're not used to it!