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Have you checked if you even need to amend? The IRS website (https://www.irs.gov/taxtopics/tc502) has specific guidance on retirement plan loans. Did you take a qualified loan that you're repaying according to the terms? Or did you default on payments making it a deemed distribution?
I made this mistake last year. Thought I needed to amend when I got a 1099-R for a qualified loan. Spent hours preparing the amendment only to have my accountant tell me it wasn't necessary since I was repaying the loan according to terms. Check the distribution code in box 7 carefully!
Did your 1099-R show a taxable amount in Box 1? And what's the distribution code in Box 7? This makes a huge difference in whether you need to amend.
I've become quite familiar with the IRS Master File System after dealing with amended returns. What's happening is your return has been accepted into the e-file database (SCRIPS) but hasn't yet been integrated into the main IRS Master File which populates your transcript. The weekly update cycle typically occurs on Fridays, with transcript updates appearing Saturday morning around 3-6am EST. For amended returns specifically, the IRS uses Form 1040X processing codes that don't appear until manual verification is complete. I'd recommend checking your transcript this Saturday morning - that's when the TC150 posting (tax return filed) would appear if your return has moved through the queue.
This is exactly the kind of specific information I've been looking for. Thanks for sharing your knowledge!
Let me clarify something important: the "accepted" message you received on 1/30 only means your return passed the initial validation checks and was received by the IRS. It does NOT mean processing has begun. Here's what happens next: 1. Your return sits in a queue waiting for actual processing to begin 2. Once processing starts, your transcript will update with a TC150 code 3. If you amended something, it goes through additional verification steps 4. Transcripts typically update weekly, usually overnight Friday into Saturday 5. The first update will show your return was filed and initial processing status This is completely normal, especially during peak filing season with amended returns.
Filed January 30th. No updates. Checked transcript. Nothing. Called IRS. On hold forever. Finally got through. They said wait. Still waiting. Day 24 now. Getting worried. Need this refund soon. Mortgage payment coming up.
According to the IRS website at https://www.irs.gov/refunds, most refunds are issued within 21 days of acceptance. However, my experience with January 30th filing this year was much different. I received no confirmation email from TurboTax initially, but when I logged into my TurboTax account and checked my filing status, it showed my return was accepted on February 2nd. My transcript became available on February 18th, and my refund was deposited on February 25th. If you haven't already, I recommend checking your account online rather than waiting for an email, and also requesting your tax transcript online which often updates before WMR does.
I'm impressed with your detailed tracking. Is requesting a tax transcript something anyone can do? I've been trying to check my status through the IRS2Go app as per Publication 5348, but it keeps showing the same message for weeks now.
I filed on January 23rd, 2024 and was accepted on January 24th, 2024. My WMR showed 'STILL processing' from February 15th until March 22nd. Exactly 58 days from acceptance to deposit. I tracked every status change. The transcript updated on March 18th with an 846 code dated March 22nd. The money hit my account at 3:17 AM on March 22nd. Independent contractor returns take longer this year because of increased fraud prevention measures implemented on January 16th, 2024.
The collective wisdom around here is that 'STILL processing' indicates your return has been selected for manual verification, which is extremely common for Schedule C filers. The automated fraud detection system (EFDS) and the Return Review Program (RRP) algorithms flag approximately 35% of all self-employment returns for additional scrutiny. Most people see their status resolve within 45-60 days without any issues. The key is to monitor your transcript for movement rather than WMR, as the transcript will show actual processing codes while WMR often lags behind.
Alexander Evans
This is normal behavior. Different IRS systems. Different update schedules. Acceptance happens first. WMR updates later. Try checking tax transcripts instead. More reliable. Usually updates faster. Don't worry unless it's been 7+ days. Peak filing season causes delays.
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Evelyn Martinez
This happened to me earlier this tax season and I completely freaked out! I filed on February 2nd and my software (FreeTaxUSA) immediately showed 'accepted' but WMR showed nothing for almost a week. I was convinced my return had disappeared into some IRS black hole. Called the IRS every day but couldn't get through. Finally on day 6, WMR suddenly updated with the first bar. Got my refund about 2 weeks after that. The anxiety was awful though - I kept imagining I'd have to refile or that there was some huge problem.
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Maya Lewis
ā¢Thank you for sharing this! It's really reassuring to hear others had the same experience. Would you say it's pretty much guaranteed that WMR will eventually update if the tax software shows accepted? I'm on day 4 of waiting and getting nervous...
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Isaac Wright
ā¢What was your processing time from when WMR finally showed the first bar until deposit? Did you have any additional verification steps or identity confirmation requirements during that period?
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