I went through IRS verification twice in the past year and can offer some insight on timelines. The process really depends on the specific verification type and how quickly you respond. For my first verification (5071C - identity), I completed it online through ID.me and received my refund in 11 days. The online process took about 30 minutes total - mostly answering security questions and uploading photos of my driver's license and taking a selfie. My second verification (4883C - income) required mailing documents and took 7 weeks from when I sent everything via certified mail to when my refund was deposited. A few key tips based on my experience: - Check the letter code immediately to know what type you're dealing with - If it's identity verification (5071C), try online first - much faster - For income verification, gather ALL requested documents before submitting anything - Use certified mail if mailing documents - I learned this the hard way when regular mail got delayed - The "Where's My Refund" tool updates every 24 hours once you're in the system Since you mentioned tuition timing, I'd also recommend calling the number on your letter to explain your educational expense situation. When I mentioned student loan payments during my call, the agent noted it in my file and said it could help prioritize my case. What letter code did you receive? That will determine your best next steps and realistic timeline.

I went through verification recently and can share some practical insights about the timeline. The most important thing is to identify what type of verification letter you received - check the code in the upper right corner (5071C for identity, 4883C for income, etc.). For identity verification (5071C), you can often complete this online through ID.me which typically takes 1-3 weeks total. I did mine last month and it took exactly 9 days from completion to refund deposit. The online process itself takes about 20-30 minutes - you'll need your driver's license, Social Security card, and current/prior year tax returns handy. For income verification (4883C), you'll likely need to mail documents and should expect 6-8 weeks. Use certified mail with tracking - the IRS does occasionally lose documentation. Given your tuition deadline, I'd recommend: 1. Call the number on your letter first thing Monday morning (7-8 AM has shortest hold times) 2. Explain your educational expense timeline - they can sometimes expedite for financial hardship 3. If online verification is available, do it immediately rather than waiting 4. Have a backup payment plan ready just in case Don't let the horror stories discourage you - most people who respond quickly with complete documentation get resolved within the standard timeframes. The delays usually happen when people wait too long to respond or submit incomplete information. What specific letter code did you receive? That'll help determine your exact next steps and realistic timeline.

I feel for you - tax software can be tricky even when it's supposed to make things easier! The good news is this is definitely fixable, and you have a few options depending on how recently you filed. If you filed within the last few days, definitely try calling the IRS first to see if they can stop processing your return. The automated system might tell you it's too late, but if you can get through to a human agent, they sometimes have more flexibility. If calling doesn't work out, the 1040-X route isn't too bad once you get the hang of it. Just make sure to clearly show the change from line 36 back to line 35a. The 16-week processing time is annoying, but at least you'll get your money eventually. One tip: when you do get this sorted out, consider setting up direct deposit for future refunds if you haven't already. It's faster and eliminates the risk of lost checks. Also, you might want to adjust your withholdings slightly so you don't get such a large refund next year - that way a mistake like this has less impact on your cash flow. You've got this! It's just a paperwork hiccup.

Don't panic - this happens more often than you'd think! I work in tax prep and see this exact mistake several times each season. The key is acting quickly since you have a few different paths to fix this. First, definitely try calling the IRS ASAP if you just filed. Even if the automated system says your return is being processed, a human agent might still be able to make the correction before it's finalized. The number is 1-800-829-1040, but be prepared for long wait times. If calling doesn't work, yes, you'll need to file Form 1040-X. It's not as scary as it sounds - just make sure to clearly indicate that you want to move the $2,437 from line 36 (estimated tax) back to line 35a (refund). In Part III, keep it simple: "Correcting refund allocation - moving $2,437 from line 36 to line 35a for direct refund." Pro tip: Double-check your bank account info on the amendment if you're doing direct deposit. Since this is essentially a "new" refund request, make sure all your banking details are correct. The 16-week wait for amendments is rough, but you will get your money. Hang in there!

Has anyone here actually calculated the exact difference between donating directly to charity vs using a DAF? I'm trying to figure out if the extra complexity is worth it for my situation.

One thing to keep in mind with your specific situation is the timing of when you execute this strategy. Since you're planning to donate $130k worth of appreciated stock to a DAF, you'll want to make sure you have enough AGI to use the full deduction in the current tax year. With your combined income of $650k, you should be able to deduct up to 30% of AGI for appreciated stock donations to a DAF, which would be around $195k - so you're well within the limits for the $130k donation. However, I'd recommend getting the DAF set up and making the stock donation BEFORE you sell the other $130k portion. This way you can see exactly how the deduction impacts your tax liability before triggering the capital gains on the sale. Also worth noting that different brokerages have different processes for transferring appreciated securities to DAFs - some are more streamlined than others. Fidelity, Schwab, and Vanguard all make it relatively easy if you're already their customer, but it can take a few days to process the transfer. The strategy definitely works, but the exact tax savings will depend on your state taxes and whether you're subject to the 3.8% net investment income tax on the capital gains portion.

My sister and I both got these notices. She used taxr.ai to figure out what was up and got her refund 2 weeks later. Something about her W2 triggering a review. Im gonna try it too tbh

Got mine about 10 days ago too! Super frustrating because I was counting on that refund for some bills. From what I've read online it's happening to a lot of people this year - seems like they're being extra cautious with reviews. Hang in there, hopefully it doesn't take the full 120 days 🤞

One thing to consider is whether traditional or Roth is better for your spouse's IRA. With your household MAGI at $47k, you're in a relatively low tax bracket now. It might make more sense to pay the tax now (go with Roth) rather than deduct it (traditional). The benefit would be tax-free growth and withdrawals in retirement when you might be in a higher tax bracket. Just something to think about!

Just wanted to jump in here as someone who went through this exact situation two years ago. Your brother-in-law is definitely wrong on this one! The spousal IRA is one of the best-kept secrets in tax planning for single-income households. At your income level of $47k, you can absolutely make fully deductible traditional IRA contributions for both yourself AND your non-working spouse - up to $7,000 each for 2024 (assuming you're both under 50). A few practical tips from my experience: 1. You can make the contribution right up until the tax filing deadline (April 15, 2025 for 2024 taxes) 2. Most major brokerages (Fidelity, Vanguard, Schwab) make it super easy to open a spousal IRA online 3. Don't forget you can also do this for previous tax years if you missed it - you have until the filing deadline to contribute for the prior year This could save you around $2,800 in taxes if you max out both IRAs ($14,000 total contribution × your tax rate). That's a significant chunk of change for a family with young kids!