check if ur bank info was entered correctly. my return was invisible until i realized i typed one number wrong in my routing number 🤦‍♀️

That verification of non-filing letter appearing now is definitely suspicious timing. Someone may have requested verification of your 2020 status, which could be a red flag for identity theft. I'd recommend placing a fraud alert on your credit reports ASAP and maybe consider getting an IP PIN from the IRS for next year. The fact that your 2023 return is also missing from the system at the same time makes this even more concerning. Keep pushing with the IRS - don't let them brush this off as unrelated issues.

After you send in the amendment, expect it to take 3-4 months minimum for processing. The IRS is really backed up with partnerships right now. If you need to prove to a lender that you've submitted an amendment before it's processed, make sure to keep detailed records of when you mailed it (certified mail with return receipt is best).

One thing to keep in mind - if your depreciation correction results in a significant change to the partners' K-1s (especially if it affects their basis calculations), you might want to send a cover letter with your amendment explaining the impact. This is particularly important if any partners have already filed their individual returns using the incorrect K-1 information, as they may need to amend their personal returns too. Also, double-check that your depreciation method is consistent across all affected assets. Sometimes when people catch one depreciation error, there are others lurking that follow the same incorrect pattern.

Just wanted to share that these scam letters are getting super sophisticated. My mom got one that had fake "IRS" watermarks and everything. What gave it away was they asked for payment via gift cards!! The real IRS will NEVER ask for gift cards, cryptocurrency, or wire transfers. They mainly use checks, direct debits from bank accounts, or their official payment system.

This is unfortunately such a common scam right now. I work in financial services and we see customers coming in panicked about these fake collection letters almost weekly. The good news is that since you've been filing on time and getting refunds, there's virtually no chance this is legitimate. A few additional red flags to watch for: Real IRS notices always have your correct name and address, include your Social Security number (partially masked), and have specific notice numbers. They also never threaten immediate action in the first notice - there's always a series of escalating communications. Since you mentioned the letter has barcodes and looks official, that's exactly what scammers are doing now - they're creating very convincing fake documents. But legitimate IRS correspondence will have your tax account information that only they would know. Beyond calling the IRS directly, you can also visit a local IRS Taxpayer Assistance Center if you want to speak with someone in person. They can pull up your account immediately and confirm your status. Don't let these scammers steal your peace of mind!

Has anyone considered the impact on financial statements when switching? Our bank requires quarterly statements and I'm worried changing to cash would make our business look less profitable on paper since we carry a lot of receivables.

The key thing to remember with your $4.2M revenue is that you're well under the new $25M threshold, so you have flexibility with both accounting methods and inventory treatment. Since you're already functionally operating on cash basis (recording sales when paid, expenses when you pay for inventory), making it official could simplify your compliance. For C corps with inventory like yours, cash method often provides better cash flow management since you're not paying tax on income you haven't collected yet. Given your retail operation, this could be significant if you have seasonal patterns or customers with longer payment terms. I'd recommend getting a concrete analysis of your specific numbers - look at your year-end receivables vs payables to estimate the potential tax impact in the year of change. The Section 481(a) adjustment calculation is crucial here since it determines how much income gets deferred or accelerated when you switch. Also consider your growth trajectory - if you're approaching the $25M threshold, you might be forced back to accrual eventually, so factor that into your decision.

Def a scam but ngl this is kinda hilarious. Usually they try harder with the whole 'youre going to jail' routine

Classic scam call! The IRS will NEVER call you without sending official mail first. Real IRS communications are always formal and documented. That "keep on" message is probably some confused scammer who doesn't even know what they're supposed to be saying lol. Just ignore it and don't give out any personal info if they call back. Your refund status can be checked on the official IRS website - much safer than random phone calls!