I am an undergraduate student and while I was taking a class I happened to come up with some new concepts contrary to what my professor had told me regarding their possibility.
I have published in other journals but never in IEEE transactions, this could very well give a solid backing to any SOP I would write for my Phd studies. My professor is a Phd and he has various connections and stuff. He was impressed with the work and told me to publish it. However, I have heard that publishing in IEEE transactions is extremely hard: would including my professor as a co-author, with his doctoral degree, help in the review process? Not influence it or something, but would they at-least take me seriously? Normally, I don't fret about being published and stuff but to get a good school for Phd it's essential that I have this done. What are your thoughts?
It doesn't matter.
IEEE Transactions are using Double-Blind Peer Review, which means that the author identities are not revealed to the reviewers, and you will not know either the identities of your reviewers.
If you are wondering whether including your professor as a co-author will give you some advantage in the review process, the answer is no. However, He can surely contribute with your paper and help you address the comments of the reviewers, so it's definitely a good idea include him if he wants to be involved.