This thread has been incredibly helpful for understanding the transcript timeline! As someone who's also self-employed and considering a home purchase in the near future, I really appreciate all the detailed advice from mortgage professionals and people who've actually been through this process. One question I haven't seen addressed - for those of you who successfully got your transcripts quickly after filing, did you notice any difference in processing times based on the complexity of your return? I have multiple income sources (freelance work, rental property, some investment income) and I'm wondering if more complex returns take longer to process and show up on transcripts, even when filed electronically. Also, has anyone dealt with getting transcripts when you've had to file extensions in previous years? I had to extend my 2023 filing due to some missing documents, and I'm curious if that creates any additional complications when lenders are reviewing multiple years of tax history. Thanks again to everyone who's shared their experiences - this is exactly the kind of real-world guidance that makes all the difference when navigating something as stressful as buying a home while self-employed!

Based on my experience as someone who went through this exact situation recently, I can confirm that your 8-week timeline should work well if you file early. I filed my return on January 29th last year and had my transcript available in just 6 business days - much faster than expected. One thing I'd add to the great advice already shared here is to make sure you have your prior year AGI (Adjusted Gross Income) readily available when setting up your IRS online account. This is one of the key pieces of information they use for identity verification, and having it wrong can lock you out of the system. Also, consider having your lender pre-review your 2023 transcripts if you haven't already. This can help identify any potential issues with how they interpret your self-employment income before you're under time pressure with the 2024 documents. Some lenders have specific ways they calculate income from 1099s that might differ from what you expect. The electronic filing and payment route you're planning is definitely the fastest option. Just make sure to save confirmation numbers for everything - your e-filing confirmation and your payment confirmation from Direct Pay. These can serve as backup proof if there are any delays in the transcript system.

Have you considered calling your local Taxpayer Advocate Service? They're like the customer service superheroes of the IRS world. If your refund is causing financial hardship (like if you need it to pay rent or utilities), they might be able to expedite the paper check process. It's like having someone navigate the IRS maze for you. Their number is 877-777-4778. Think of it as taking a shortcut through the IRS bureaucracy - sometimes worth it if waiting those extra weeks would cause real problems.

I went through this exact scenario last year with Wells Fargo. The timeline was frustrating but predictable - my direct deposit was rejected on March 15th, and I received my paper check on April 5th (21 days later). What helped me track the process was checking my IRS transcript every few days. You'll see a 846 code when they initially schedule your direct deposit, then a 971 code when it gets rejected, followed by another 846 code for the paper check. The key is managing expectations - once that account number error is in the system, there's literally no way to fix it mid-process. The IRS computers don't have a "oops, let me correct that" function. Just budget for the extra 2-3 weeks and you'll be fine!

Has anyone used H&R Block instead of TurboTax for this? I'm wondering if one handles these 409A adjustments better than the other.

I just went through this exact same situation with my RSU sales from last year! The confusion around adjustment codes is so real. What helped me was understanding that the key is avoiding double taxation - since the income from your stock compensation was already reported on your W-2, you need to adjust your basis on the 1099-B to reflect that. For most RSU situations like yours, you'll likely use adjustment code "B" as others mentioned. But here's a tip that saved me a lot of time: before you finalize anything in TurboTax, print out or save a PDF of your tax return and review the Schedule D to make sure your gains/losses look reasonable. If you see huge gains that don't match what you expected, you probably need to double-check your adjustment amounts. Also, if you have any ESPP transactions mixed in with your RSUs, those might need different codes depending on whether they were qualifying or disqualifying dispositions. The supplemental documents that ApolloJackson mentioned are golden for this - definitely hunt those down if you haven't already!

Great thread with lots of solid advice! I'd emphasize getting those forms filed ASAP - every day you wait adds more penalties. One thing I haven't seen mentioned yet is to make sure you're filing the correct versions of the forms for each tax year. The IRS sometimes updates form layouts between years, and using the wrong year's form can cause processing delays. Also, when you mail the returns, send each quarter's 941 in a separate envelope to avoid processing confusion. I learned this the hard way when a client's multiple quarters got mixed up in IRS processing and we had to spend months sorting out which payments were applied to which periods. If your client's business is still operating, make sure they stay current on all 2023 filings while you're catching up on 2022. The last thing you want is to fall behind again while trying to resolve the old issues. Set up quarterly reminders and consider having them make estimated deposits to avoid future problems.

As someone who's dealt with this exact scenario multiple times, I want to stress the importance of acting quickly but methodically. Here's my step-by-step approach: 1. **Immediate Priority**: Get all 2022 forms prepared and filed within the next 30 days. The failure-to-file penalty is 5% per month (up to 25%), so every month you delay costs your client more money. 2. **Payment Strategy**: If your client can't pay the full amount immediately, still file the returns with whatever payment they can make. Partial payment shows good faith and reduces the failure-to-pay penalty from 0.5% to 0.25% per month on the remaining balance. 3. **Communication**: Once filed, don't wait for notices to pile up. Call the IRS proactively to set up a payment plan before they start collection actions. This positions your client as cooperative rather than evasive. 4. **Documentation**: Keep copies of everything - certified mail receipts, payment records, and any correspondence. You'll need this paper trail when dealing with penalty abatement requests later. The key is moving from "delinquent" to "working toward compliance" as quickly as possible. The IRS is generally reasonable when taxpayers take initiative to resolve issues rather than waiting to be caught.

I went through this exact same panic when I couldn't find Credit Karma Tax this year! After some digging, I found out that it's now called Cash App Taxes (https://cash.app/taxes) and it's still completely free. When Intuit bought Credit Karma, they had to sell the tax portion to Square/Block due to antitrust issues. The good news is that Cash App Taxes is essentially the same service - same interface, same features, and still 100% free for both federal and state returns with no income limits. You don't need to download the Cash App either, you can just use their website directly. I used it for my 2024 return and it handled everything perfectly, including my investment income and side business expenses. Saved me from having to pay TurboTax's outrageous fees! Definitely worth checking out before you consider paying for tax software.

I had this exact same issue! Used Credit Karma Tax for years and was so confused when I couldn't find it anywhere. After some research, I discovered that it's now Cash App Taxes - when Intuit acquired Credit Karma, they were forced to sell off the tax filing portion due to antitrust regulations, and Square/Block bought it. The great news is Cash App Taxes is still completely free for federal and state returns with no income restrictions! You can access it directly at cash.app/taxes without needing to download the Cash App mobile app. The interface is almost identical to the old Credit Karma Tax, so there's virtually no learning curve. I filed my 2024 taxes through them last month and it was just as smooth as Credit Karma used to be. They handled my W-2, some freelance 1099 income, and stock transactions without any issues. Definitely beats paying TurboTax's steep fees for what should be straightforward tax filing! If for some reason Cash App Taxes doesn't work for your situation, FreeTaxUSA is another solid free option (free federal, small state fee), but I think you'll find Cash App Taxes meets your needs perfectly.