2024 IRS TAX REFUND UPDATE - NEW Refunds, Tax Delays, Transcripts, ID Verification, Notices
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- Опубліковано 10 лип 2024
- On today’s IRS tax refund update as we have finally passed the tax filing deadline for the year, tax processing continues for millions of tax returns that have been submitted as far back as January with refund delays increasing for many due to a variety of reasons so we are going to recap the latest including the next refund release date set by the IRS, and some of cause of those ongoing delays. Starting off with the latest as the next batch of direct deposit refunds is scheduled for release on April 23rd, now if your part of this latest refund batch while most will receive it the day of if not before, do wait up until April 29th for it to post to your bank account before initiating a payment trace with the IRS. Meanwhile even though the tax filing period officially ended for the year the IRS is closing in on 2 million tax returns filed as far back as January that still remain unprocessed as of this recording. Now tax processing will continue on these returns, however given the amount of unprocessed returns still remaining it is for certain delays on refunds at this point will in fact continue through summer. Now recapping delays experienced by our viewers throughout the tax season the most significant amount of refund delays has been as a result of reviews on tax refunds whether a random review or because of a specific issue detected by the IRS computer system during tax processing. For those impacted by this issue you are likely to see the 570 code on your tax transcripts, and one of several different types of IRS notice specifically the 60 day notice and the CP 05 letter from the IRS. The causes of the reviews and the need for further examination of the tax return often have to do with the wages and tax withholding’s being reported. The IRS will take the amounts you are reporting and compare it to what the issuer of your tax forms usually your employer has reported on their tax returns for accuracy. So when it comes to a random review it is out of the control of the taxpayer, and the selection is done regardless of whether or not you have had issues with your tax return in the past.
0:00 Introduction
0:22 New Refunds
1:02 Refund Delays
2:35 ID Verification
3:32 Tax Assistance
4:47 Closing
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Disclaimer: This is for informational purposes only and is subject to change. Material provided should not be considered tax, accounting, or legal advice. Please consult a certified tax consultant for tax advice.
#TaxRefund #IRS #News #Taxes #TaxReturn #Tax #Refund #TaxSeason #youtube #video #new #newvideo #breaking news
This is TOTAL B.S.!!! I filed and accepted on 2/26. It is now Day 53 waiting for my refund, WMR still stuck at RETURN ACCEPTED... your tax return is still being processed. A refund date will be provided when available. No transcript on file just showing N/A. i called about 2 weeks ago and was told my return is in the ERROR RESOLUTION DEPARTMENT. To wait 10 weeks from the date i filed and got accepted. While doing my own research, i read that someone got a letter from the IRS stating this person had to I.D. ( verify ) in person, I don't know how true this is. also, reading that people are getting their refunds by mail instead of DD and that their transcripts and wmr status have not changed, again i don't know how true this is but it brings a little hope hearing that. Maybe the reason for the hold up on our refunds is all this aid going to other countries and not us. I also saw a post online saying the IRS is out of funds they can't pay us until they get more funding. Either way, this is B.S.
We can all thank bidenomics....
I did my taxes feb 1st..nothing but 152 ..says just wait
I filed 1/22 and same
Same here I filed February 14th and it says the exact same thing you're saying still processing nothing on my transcript but n/ a
What number did you call? I've been stuck on refund accepted since 2/5
E-filed Jan 21st. , Cycle 0605, CP05 notice 03/4. Called multiple times to the IRS and they said they dont see anything wrong but I have to wait "120" days. Asked why since the CP05 letter says 60 and they didnt answer me. Called The Tax advocate phone number today (04/19) and they said they can not help me and forwarded me to the IRS helpline twice (called in the morning and afternoon). Dont know what to do because no one will help.
What if I received my state portion but not my federal, both were efiled with direct deposit, I filed on feb 18th and got my state by the 27th… when I request my transcripts on the irs website it says “No Record of return filed” when I use the check my refund tool it doesn’t say anything other than it is still being processed
I finally got my ddd for 4/24 . I efiled on 1/23
Congratulation
Great news! Thanks for letting us know!
What codes did you have ? @patrickfazin1297
Congratulations
Congratulations 🎉... 8 efiled on 2/9...👍🏾
I filed on 2/3
Still nothing...
This country is going to hell and back
If I owed the IRS money
The results are gravely different.
Went it tells you it still being processed that means you are in the error department you need to call and ask
They need to release these refunds
IRS probably have no money to give us
Filed my return electronically February 12th and haven’t received any updates on where my refund or on transcript or no letters sent called irs multiple times and got through every time and was told I was sent to the error department and had to wait 10 weeks from filing date called my 10th week and was told that they would refer it to be released and call back may 22 checked where my refund today and it changed from still being processed to it’s being delayed past the 21 days and will be processed tax topic 152 I claimed my kids and home energy credit
Filed late January. Got cp05 letter 3/11. No updates on transcripts. My return was simple. Not getting the refund is so stressful!
Filed 1/24, accepted the 25th nothing in 21 days, then on 3/11 I got a cp05....it's been nothing since then oh sorry the other day I got another 60 day notice....I never in my life went through anything close to this.
Same here. I filed and was accepted on 1/31
I got the 5017c letter 4 weeks ago and verified immediately. today my transcript updated with the 570 code. Is that due to the verification letter thing or can it be something else? That had to be about the verification letter i did a month ago right?
Filed and accepted 1/31. 570 and 971 codes. 60 day Notice dated 3/18. Nothing since.
1. 60-day notice dated 3/18, put the current wait at about 30 days with another potential 60 days to go.
2. Have you checked your wage transcript in your IRS account that one is different from the one you are normally accessing and will show if the IRS has your wage/income info on file both W-2 and 1099 income.
3. If there is nothing listed - have you checked your social security account and accessed your wage and earnings record? If nothing is showing that could be the source of your problem as it pertains to W-2 income since the companies report wages to the SSA first which is then forwarded to the IRS. If you are seeing it there then it could mean your return was selected for random review which we are seeing a lot of.
4. There was another comment you posted - and the moderator did remove it appropriately.
@@UIVlogs2021 is the wage transcript in IRS account different than the one that gives me the 570 and 971 codes? I did check my SS account and the SS wages are there. My SS wages are more than section 1 on my W-2 which reflects what has been taken out for my 401k.
@@UIVlogs2021 I just found the wage and income transcript and it says “no record of return filed”. Does that mean that the IRS hasn’t received or processed my employer’s information?
@sallyharris1093 - Ok so that is good your wages are showing up on your SS account. It could actually take the IRS into late summer to update your income transcript, but that does not mean they don't have them on file and that it would take until late summer for you to get that refund, it just means they have not gotten around to uploading it into the computer system as Your employer first submits Form W-2 to SSA; after SSA processes it, they transmit the federal tax information to the IRS. It appears to me either the IRS has not processed what they got from the SSA yet, or the IRS selected the return for review. Unfortunately with the IRS it is not quite possible to know, but the fact you took money out of your 401k leads me to believe that triggered the IRS computer system to review the return manually, because that is not ordinary income you receive every year. I had at least a dozen viewers who withdrew from their 401k have the same thing happen to them. In the end it's unfair to everyone and a bunch of nonsense delays they put people through.
filed and accepted on 2/6, 570 code. 60 day notice dated 2/21. No update since.
Since we are 05 cycle do they update throughout Friday's & Saturday? Or is it only once each of those days?
Once on Friday
Friday mornings - and cycle codes ending in 05 will see WMR updated on Saturday mornings.
Cycle code?
chuckmoncevais4197 please refer to our past episodes we have covered cycle codes several times.
What if my transcript under income is blank ? Not showing anything and been deleted 60days
I'm still waiting for my 2021 taxes I it went from still processing and a refund date will be provided now it says my refund is being processed what do that means that I will be getting my taxes return from 2021 I did e filing in 2022 and I call to do the I'd verifying that it was me
*Filed 2/14
*codes 150, 806, 766, 570
*60 day notice sent 4/1
My husband is showing no wages on SS, mine are showing, but IRS wage transcript states “No record of return filed”
We do have electric vehicle credit coming to us… not sure who else is in the same boat? My husband has coworkers who have received their returns so clearly they have company records 🤷♀️. Haven’t attempted to call anyone.
*cycle 01
I filed my taxes on 1/29 I went to the irs building on a walk n date to verify and it took 2 minutes when got inside the building after sitting outside for four hours. That date was 4/13 since then my wmr went from still processing to being processed. And my transcripts have codes 150 766 as of date of 5/06
Please how did you verify and what documents did u use to verify
Please I need help on what to do and document to go with
can u answer his question
i have same problem
The documents you need to have in person include a valid photo ID and a copy of your tax returns - I would also recommend bringing your social security card as a second form of Identification.
No letters waited 10 weeks and told by the IRS to wait 30 more days.
Typical run around they are giving people like you! Usually the 30, 60, and 120 day excuses with them!
Exactly what happened to me. I've been accepted since 2/9
Finally called them, they left a recommendation on my account. Said to wait 60 days before they get back to me
Filed Federal 2/2/24 ..Recvd Notice CP05 letter sent 3/18 and sent by mail recvd 3/25. States can take up to 60 days in process of further review. So disappointed in the IRS. FYI I had recvd CA State refund within one week after I filed.
What if I filed april9, federal &state accepted same day, but federal refund the status bar is still on received ,up to today, I was told the status bar is updated 24 hours but not for me, I never even waited this long but I know it’s still kinda early, tax code152,and seeing the comments wow disappointing 😮my state refund was issued on April 13, still no direct deposit
E-filed Jan. 22, cycle 0605, CP05 notice 3/4, another 60 day letter April 1, transcripts haven’t updated since February. 570 2/26, 971 3/4 over waiting!
Have you checked your wage transcript in your IRS account that one is different from the one you are normally accessing and will show if the IRS has your wage/income info on file both W-2 and 1099 income.
If there is nothing listed - have you checked your social security account and accessed your wage and earnings record? If nothing is showing that could be the source of your problem as it pertains to W-2 income since the companies report wages to the SSA first which is then forwarded to the IRS. If you are seeing it there then it could mean your return was selected for random review which we are seeing a lot of.
@UIVlogs2021 my wage info is not on my transcrips when I look at it as described in your post. I did look at my Social security page and it's posted. Any info on how to fix this?
My wage transcript shows nothing for 2023
I filed in January, and I called them which she said they have up to 120 days smh so the latest I will receive them is July 9th smdh.
My 2022 amended return finally is showing for my account! It even shows that it was received March of 2023!
Target review date is May 6th.
WOWWWWWW ABOUT TIME!!!!!!!!!!!!!!!!!!
@@UIVlogs2021I’m hoping that it will cascade and reimburse me for the part of my 2021 refund they took for 2022. Only took 27 months.
Target review date got updated!
I can’t even verify in person until June
Who did the I.d verication
Got a update..thank GOD...4/24
Is that when you get your refund ? when did you file yours?
Congrats on the refund date!
When did you file?
I filed Feb 1st
Nice you got a refund date
I filed jan 23rd
Hello..yes refund date 4/24..WMR updated yesterday to approved
I verified in March 10 and I’m still waiting!
Not sure if this has happen for anyone else but when login i see 0 as of today 4/19 owed 0.00and when i check my details by year it says 2023 owed 0.00 and i have my 2023 summary listed but transcript isn't update at all. Does it look like my DDD will be coming ?
You will not see a DDD until there is some sort of transcript update showing that 846 code. What are the last 2 digits of your transcript cycle code?
@@UIVlogs202105
I have this same problem
@@UIVlogs2021 1205 and yes i know i need the 846 for my DDD but i was wondering if the account balance changed and has stayed that way i was thinking an update may be coming being it shows i owed nothing for 2023.
Stuck at ERS error resolution 🤦♂️
No wage info on my transcript but SSA is listing my wage info. WTH is going on? I think they're out of money.
I'm still here still waiting at a 570 code 🙄 I called the IRS, and they said them after May 15, I called the tax advocates, and they said to call the advocate line after July 30 for assistance 🤔
Wow they are already backed up until July now? This year definitely seems much worse than last year. This is the first case we heard that they are now saying until after July.
I filed early Feb and got mine back a week later not even
Accepted 2/5 . Got a letter dated 3-18. Letter said don't call for 60 days. No idea what the problem is. This is B.S.
EIC ❌
CTC ✅
2/20 - Filled & Accepted
3/8 - Trans Updated 150, 806, 570 Codes
3/15 - 971 Code
Called IRS On 3/26 & Was Told They Need An Addl 45 Days
4/1 CP05 Received & No Further Action Needed
My husband stuck on accepted and we had the identity issue and had to mail in a paper return and still waiting it’s almost May can we PLZ get paid!!
Im still on 152
I'm still waiting on my 2020 returns and haven't received no more letters
I’d reach out for Congressional help if I were you. I also did reach out for Congressional help and saw results within a couple of months.
Same 2020,2022, and now 2023s. I give up
@@MrCykedOut I've had my tax prepares trying to help me and they got ahold of the irs and said I'd get it in 9 more weeks but didn't so I even called the irs myself and talked to them but they just gave me the run around so I don't know what to do
@@rolandkalama1745 have you done id verification or have you received any letters
@@MrCykedOut who and where at is there a phone number for this
what is a 4883c letter mean
It is an ID verification letter, and this is one where you can't verify online, but will need to verify in person.
Hmm seems the government has run out of funds. People don't give the government an interest free loan. They can't manage the funds they already have. What makes you think that this will get any better next year. I haven't even filed and am not sure i am going too at this point. I wonder how many didn't file this year? 🤔
But we have plenty of international aid to give out
Haven't received my refund from any 1099 from my account I'm except from paying income tax so say H&R block because of my military service 100% service connection
Please I received a letter… please how do I solve it
Well first off what is the Letter # at the top right. Tons of letters it could be so impossible to answer.
@@UIVlogs2021 I can send you a picture of the letter privately
I just need a guidance
@@UIVlogs2021 “Dear Taxpayer:
We received your Dec. 31, 2023, Form 1040 federal individual income tax return, but we need more information to process the return accurately. Unless required otherwise, send us your reply within 20 days from the date of this letter.”
First content of the letter
got a 5017c letter . i verified on march 27th . almost 4 weeks and nothing. im becoming worried
I verified a few days before you and the transcript just updated this past Friday. Regular code and 570 I think due to verification. This Friday I should get an 846 code.
@@MarvinStewart-ry5toso you think for me I should hear something this week? Since you did it a few days before me?
@@osaze789 I think so. Friday should show you something. The refund process resets after id verification. The original 21 days start.
@@MarvinStewart-ry5toohh ok makes sense . Well I hope so
@@MarvinStewart-ry5toone more question does transcripts only update on Friday?
anyone have a number for me to call where an actual person will answer me not just a stupid machine? will be very grateful
Nothing yet cp05 only no other notice recieved 570 and 971 filed 2/10
Same
Same
Same here
When is the CP05 letter dated? it really has become a stall. . . like the other 60 day notice which people have received multiple versions of. Have you checked your wage transcript in your IRS Account (that is a different one then the Account transcript most access) also your social security account to check if your wages are showing up? Employers send wages first to the SSA, and it is then forwarded to the IRS.
Only thing i can think of is retirement withdrawal
I fill out e-file so refund 18 dollars is that joke? Anyone tell me why 18 dollars refund??