Phd Professor as co-author

Adding your professor as a co-author in name only won't help from the perspective of being taken more seriously in the review process.

Including your professor as a genuine co-author will almost certainly help in that your professor has a lot more experience in writing papers, knows how to write in a scientific way, how much background to include, what previous work by others is relevant, which results to highlight, how to format the paper so that it meets the requirements of the journal and is enjoyable for experts to read, and how to engage constructively with the review process. And don't under-estimate them: they might even have some scientific insights to add to your own.

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.

Good luck!