Just want to share a success story! I verified on February 24th and my transcript FINALLY updated yesterday. Based on the IRS forums and r/IRS threads I've been obsessively reading, it seems like they're processing verifications from late February now. According to the IRS Operations Status page (https://www.irs.gov/newsroom/irs-operations), they're still dealing with a backlog from the identity verification surge that happened in February. Hang in there - you should see movement within the next 2 weeks based on current processing patterns!

I'm going through the exact same timeline as you - verified my identity on March 8th and still seeing "no return filed" on my transcript. It's so frustrating when you're counting on that refund! I called the IRS last week and the representative told me that once you complete identity verification, your return essentially gets placed back at the beginning of the processing queue, which is why it can take so long. She said to expect 6-9 weeks from the verification date, not from when you originally filed. I know it's not the answer we want to hear, but at least we're not alone in this waiting game. Fingers crossed we both see some movement soon!

I'll share my personal experience with amending after the statute of limitations expired. I discovered a mistake on my 2018 return in 2023 - I had forgotten to claim a $4,200 business expense deduction. Since it was past the 3 years, I couldn't get a refund, but I filed the amendment anyway for my own records. The IRS processed it but sent a letter saying no changes would be made due to the expired statute. No penalties, no questions, just a notice acknowledging they received it but couldn't issue a refund.

One thing to keep in mind about the statute of limitations is that it can get complicated if you have multiple tax issues in the same year. I had a situation where I made both a simple math error AND failed to report some freelance income on my 2019 return. The math error fell under the standard 3-year statute, but the unreported income was substantial enough (over 25% of my reported income) that it triggered the 6-year rule. So even though most of my return was "safe" after 3 years, that one issue kept the door open for the IRS until 2025. The lesson I learned is that you really need to look at each potential issue separately - they don't all necessarily follow the same timeline. If you're unsure about multiple problems on the same return, it's worth getting professional advice to understand which statute applies to what.

Not Renasant but most traditional banks are the same. They dont play that early deposit game like the online banks do 🤷‍♀️

Renasant customer here too! Got my DDD for 2/14 and still waiting. From what I've seen with other traditional banks, they usually don't do the early deposit thing like some of the online banks. Based on the comments here, sounds like 3-5am on the actual date is when we should expect it. Fingers crossed for tomorrow morning! 🤞

Has anyone here actually filled out Form 720? I'm curious about how complicated it is if it turns out I do need to file it for my specialty transportation business.

Welcome to the small business tax maze! I went through almost the exact same situation when I started my consulting business. Got that EIN letter and immediately panicked about all the forms mentioned that I'd never heard of. Here's what I learned: the IRS includes information about various tax forms in EIN letters as a "just in case" measure, not because they necessarily apply to your specific business. For your drone photography/inspection services, Form 720 is very unlikely to be required. That said, since you're just starting out, I'd recommend keeping good records of exactly what services you're providing. If you ever expand into areas like transporting goods via drone or selling drone fuel/parts, then you might need to revisit the excise tax question. But for standard aerial photography and inspection services? You should be in the clear. The fact that you're being proactive about understanding your tax obligations from day one puts you way ahead of many new business owners. Keep that mindset and you'll do great!

Has anyone here had their company offer them the choice between taking their bonus as a lump sum vs spreading it across multiple paychecks? I'm trying to figure out which is better tax-wise.

Congratulations on the bonus! Based on what you've described, you're probably in good shape. The $8,500 they withheld from your $25,000 bonus (about 34%) includes federal income tax at 22%, plus FICA taxes (Social Security and Medicare), and possibly state taxes depending on where you live. Since you mentioned you always withhold the maximum from your regular paychecks and typically get refunds, you're likely over-withholding throughout the year. This extra withholding from your regular pay often covers any small shortfall from bonus withholding. To be completely sure, you could run a quick calculation: take your expected total annual income (including the bonus) and see what tax bracket that puts you in. If you're still in the 22% bracket or lower, you're definitely fine. If you're in the 24% bracket, you might owe a small amount (2% of the $25,000 = $500), but your regular over-withholding probably covers this. Given your conservative approach to taxes, I'd say you can feel comfortable using most of this money without worrying about a big tax bill next year.