I went through this exact same situation last year! Filed electronically in February and transcript showed "return not filed" for almost 2 months. Turns out my return got flagged for identity verification and was sitting in a queue the whole time - no notification whatsoever from the IRS. I only found out when I finally got through on their phone line after multiple attempts. The agent said this happens more often than people think, especially with electronic filings. My advice: if it's been more than 3-4 weeks since filing, don't just wait it out. Either call the IRS directly (be prepared for long hold times) or try one of those transcript analysis tools people are mentioning. The sooner you find out what's actually happening, the sooner you can get it resolved. Hope this helps! 🙏

Ugh, this is so frustrating! I'm literally going through the exact same thing right now - filed in early February, got all my confirmations, but transcript shows "return not filed". Reading through all these comments is actually really helpful though. Sounds like there are so many reasons this could happen (processing delays, verification holds, W-2 discrepancies, etc.) and the IRS just doesn't tell us anything! 😤 I think I'm gonna try that taxr.ai thing everyone's mentioning since multiple people said it actually found their specific issues. Way better than sitting on hold with the IRS for hours. Thanks for posting this - at least we know we're not alone dealing with this mess!

As someone new to both this community and the IRS review process, I can't express how grateful I am for all the detailed experiences shared here! I just filed on March 12th and received the review notice yesterday with that infamous 60-120 day estimate. Like everyone else, I initially panicked thinking I'd be waiting 4 months for my refund. But reading through all your actual timelines (consistently in the 45-60 day range) has been incredibly reassuring. I'm definitely going to follow the collective wisdom here - setting up transcript monitoring, keeping detailed records of calls and reference numbers, and checking codes weekly rather than obsessively. The consistent pattern across everyone's experiences really suggests that the IRS gives that worst-case 120-day timeline as a legal safeguard, but the reality is much more manageable. It's also encouraging to see how helpful this community is in supporting each other through what can be a really stressful process. Thanks to everyone for sharing such specific details about codes, timelines, and strategies - you've transformed what felt like an overwhelming situation into something I can actually navigate with confidence!

As a newcomer to this community, I'm incredibly relieved to have found this thread! I filed my return on March 11th and just received the review notification today with the standard 60-120 day estimate. Like many others here, my initial reaction was pure panic - the thought of waiting up to 4 months for my refund was overwhelming. But reading through everyone's detailed experiences has completely changed my perspective. The consistency across all these timelines (45-60 days actual vs 120 days estimated) is remarkably reassuring and suggests the IRS really is just giving worst-case scenarios to manage expectations. I'm planning to implement all the strategies shared here - setting up transcript monitoring, tracking codes weekly, keeping detailed records of any calls, and most importantly, not panicking when those initial 570/971 codes appear. It's amazing how this community has transformed what felt like an impossible waiting game into something manageable with clear milestones to watch for. Thank you to everyone who took the time to share such specific details about their experiences - you've quite literally saved my sanity over the next couple months!

Another option to consider is TaxAct - their amendment feature is included in their free version for simple returns. I used it last year when I forgot to include a small 1099-INT and it worked great. No upgrade fees required like with FreeTaxUSA. However, if your return is more complex (like if you itemize deductions or have business income), you'd still need to pay for their premium version. But for basic amendments like adding forgotten interest income or correcting filing status, their free tier handles it just fine. The interface walks you through the amendment process step by step. Worth checking out before paying for FreeTaxUSA's Deluxe upgrade, especially if your amendment is straightforward!

Thanks everyone for all the helpful info! I'm in a similar situation and was dreading having to pay for an upgrade. Based on what I'm reading here, it sounds like I have a few options: 1. Pay for FreeTaxUSA Deluxe ($7.99) - seems reliable but costs money 2. Try TaxAct's free amendment feature - could save money if my return qualifies 3. Use the IRS Free File Fillable Forms - free but risky if you're not confident I think I'll try the TaxAct route first since my amendment is pretty simple (just adding a forgotten 1099-INT). If that doesn't work out, I'll bite the bullet and pay for the FreeTaxUSA upgrade. One question though - if I start the amendment process with TaxAct but then need to switch back to FreeTaxUSA, will that create any issues with having multiple amendment attempts in the system?

I'm in almost the exact same situation - gave my daughter $95k for her house down payment last year and completely missed filing Form 709. Reading through all these responses has been incredibly helpful and honestly a huge relief. The key takeaway for me is that this is really about documentation rather than owing actual tax. Since we're nowhere near the lifetime exemption limit (around $13.61 million), we won't owe gift tax, but we still need to officially report it to "use up" that portion of our lifetime allowance. What's really concerning me now is the point someone made about banks reporting large transactions. I did a wire transfer directly from my account to hers, so there's definitely a paper trail the IRS could discover. I'd rather file the late return proactively than wait for them to find it and then have to explain why I never reported it. From what I'm gathering here, the penalties for late filing when no tax is actually owed should be minimal, but the peace of mind and proper documentation will be worth it. Definitely planning to get this sorted out ASAP.

I'm dealing with almost the exact same situation as the original poster. I gave my son $110k last year to help with his first home purchase - direct bank transfer just like you described. I also handled my own taxes since my usual CPA was dealing with health issues, and I completely overlooked the Form 709 requirement. What really helped me understand the situation better was realizing this isn't about owing tax (since we're nowhere near that $13+ million lifetime limit), but about proper documentation. The IRS needs an official record that we've used that portion of our lifetime exemption, even when no actual tax is due. I ended up filing the late Form 709 about two months ago. The process wasn't as scary as I thought it would be - I included a reasonable cause statement explaining the circumstances (CPA unavailable, first-time large gift situation), and I haven't heard anything back from the IRS yet. From what I understand, when there's no actual tax owed, they're typically pretty reasonable about late filings, especially with documented reasonable cause. The peace of mind has been worth it. Better to be proactive and get it properly documented than worry about the IRS discovering that large wire transfer later and having to explain why it was never reported. Your situation with the accountant being on medical leave sounds like solid reasonable cause to me.

Im curious if anyone knows about the deadline for making the SEP contributions? Is it the tax filing deadline (april 15) or the extended deadline if you file an extension?

Just wanted to add a quick note about timing - since you mentioned tax season coming up fast, remember that you have until your business tax filing deadline (including extensions) to make your 2024 SEP IRA contribution. So even if you file your personal return by April 15th, you can still make the contribution later if your S-Corp files an extension. Also, make sure your payroll records are clean for calculating that W-2 wage base. I learned the hard way that bonuses, overtime, and other compensation all count toward the SEP calculation, but things like health insurance premiums paid by the company and other fringe benefits don't. One more thing - if you have any other employees (even part-time), you'll need to contribute the same percentage of their compensation that you contribute for yourself. This can get expensive quickly, which is why the Solo 401(k) mentioned above might be worth exploring if it's just you.