After dealing with a similar issue, I finally got through to an actual IRS representative using Claimyr (claimyr.com). They confirmed my return was in the identity verification queue and gave me exact timelines. Completely worth it to finally get a straight answer from a real person instead of the automated system runaround. The uncertainty was killing me before that.

I'm going through the exact same nightmare right now! Filed in early February, got flagged for identity verification, completed it through ID.me, and now my transcript shows absolutely nothing like yours does. It's so frustrating because I've been filing for years and this has never happened before. The worst part is how they just completely wipe your return from the system with zero explanation. I keep checking my transcript hoping something will appear but it's just that same "RETURN NOT PRESENT FOR THIS ACCOUNT" message. Really hoping the 9-week timeline everyone is mentioning is accurate because I'm going crazy not knowing what's happening with my refund. Thanks for posting this - at least now I know I'm not the only one dealing with this mess!

Bruh its wild how many ppl are waiting. My cousin filed last week and already got his but im still waiting since January lmaooo make it make sense

Been in the exact same situation since filing in January! The amended return dates you're seeing are definitely a glitch - I've seen this happen to others too. The IRS system sometimes shows wrong info when there are processing delays. I'd recommend getting your account transcript from IRS.gov (Get Transcript Online) - it'll show the actual status codes and give you a clearer picture of what's really happening with your return. The Where's My Refund tool is basically useless for complex cases like ours. Hang in there, you're not alone in this mess! 💪

14 If there's been no IRS contact yet, you might qualify for abatement under First Time Penalty Abatement, but I'm not sure if that applies to Form 5472 specifically. Worth asking whoever helps you prepare the forms.

I went through almost the exact same situation with my foreign-owned C-Corp last year. We had missed Form 5472 filings from 2020-2022 and were terrified about the penalties. Here's what I learned: The IRS absolutely can and will assess penalties for all the missed years once they become aware of the situation. Each Form 5472 carries a $25,000 penalty, so the exposure adds up quickly. However, we successfully got all penalties abated by filing the missing forms with a detailed reasonable cause statement. The key was demonstrating that our failure to file was due to reasonable cause and not willful neglect. We documented our good faith efforts to comply with tax obligations, our lack of awareness of the specific Form 5472 requirement, and our prompt action once we discovered the issue. The IRS accepted our reasonable cause argument, and we paid zero in penalties despite owing potentially $75,000. The most important thing is to act quickly and document everything properly. Don't wait - the longer you delay, the harder it becomes to argue reasonable cause. I'd strongly recommend getting professional help with this. The reasonable cause statement is critical and needs to address specific IRS criteria for penalty abatement.

I was in this situtation for almost 3 weeks. website said verify but when I got through to an agent they told me i was already verified. the online system is a total mess and doesnt update properly. dont stress about it, your probably already good to go.

This is so frustrating but unfortunately totally normal! I went through the exact same thing last year. The IRS systems are ancient and don't communicate with each other at all. After I verified in person, it took almost 3 weeks for the online portal to stop showing that notification, but my refund was actually processed much faster than that. The key thing is that you got verbal confirmation from the IRS employee that your verification was complete. That's what actually matters for processing your return. The online notification is basically just a leftover flag that doesn't get cleared automatically. If you want peace of mind, you can check your account transcript in about a week to see if there's any movement on your return processing. But honestly, I'd just ignore that notification for now and check back in 2 weeks. If it's still there after that AND you haven't seen any progress on your return, then maybe give them a call. The whole system is a joke but at least you did everything right on your end! 🙄

Just wondering, does anyone have experience with using services like Gusto for S corp payroll? I'm considering the switch but worried about the complexity of running payroll for just myself.

I made the S corp switch at around $85K and it's been worth it, but I want to emphasize something that hasn't been mentioned much here: timing your election properly is crucial. If you're thinking about this for next year, remember that Form 2553 (S corp election) generally needs to be filed within 75 days of incorporation OR by March 15th for the tax year you want it to take effect. Miss that deadline and you're stuck waiting until the following year, which could cost you thousands in additional self-employment taxes. Also, don't forget about estimated quarterly taxes once you switch. As an S corp owner, you'll need to make estimated payments on your distributions since there's no withholding on those. I use the safe harbor rule (pay 110% of last year's tax liability) to avoid underpayment penalties, but it requires more cash flow planning than when I was just a sole proprietor. The administrative burden is real, but if you're organized and use good tools (like the Gusto suggestion above), it's manageable. Just make sure you're truly ready for the additional complexity before making the jump.