$50,345 Tax Refund Stuck for 7 Months - Code 290 Appeared Today with 11/04/2024 Date - What's Next?

I filed my 2023 tax return in April (received by IRS on April 15, 2024) and my $50,345.00 refund has been stuck in review forever. According to my Account Transcript from the IRS, which I just pulled today (10-18-2024), I'm still waiting on this substantial refund. The transcript confirms my ACCOUNT BALANCE is -$50,345.00 with ACCRUED INTEREST: $0.00 and ACCRUED PENALTY: $0.00 AS OF: Nov. 04, 2024. My transcript shows a 150 code for the initial return filing on 04-22-2024 (cycle 20241405) for $15,092.00, followed by code 806 showing my W-2/1099 withholding of -$65,437.00 dated 04-15-2024. Been dealing with a refund freeze (code 810) since February 23rd showing $0.00, and then in June (06-10-2024) got hit with both a 570 (additional account action pending) and 971 (notice issued) codes, both showing $0.00. Finally saw movement today with a 290 code (additional tax assessed) showing up with cycle code 20244205 dated 11-04-2024 for $0.00. Anyone know what this means for my refund? My transcript shows ADJUSTED GROSS INCOME of $159,091.00, TAXABLE INCOME of $145,241.00, and TAX PER RETURN of $15,092.00. I filed as Single with 01 EXEMPTIONS. The RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) shows as Apr. 15, 2024, with a PROCESSING DATE of Apr. 22, 2024. The account balance still shows -$50,345.00 with zero accrued interest or penalties as of November 4th. The transcript also shows my TOTAL SELF EMPLOYMENT TAX as $0.00, with SE TAXABLE INCOME for both TAXPAYER and SPOUSE listed as $0.00. The transcript includes a Tracking Number: 106764280059 and was requested on 10-18-2024 with the same Response Date. Been in this limbo since those June codes hit and really need some insight on what this 290 code means for my case. Does the November 4th date mean I should expect something by then? Will my refund finally be issued?

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15 comments

Jungleboo Soletrain

•1y

Your transcript shows a single tax filer with an AGI of $159,091 and taxable income of $145,241 for tax year 2023. The total tax liability is $15,092, against which you had $65,437 in withholdings, resulting in the claimed refund of $50,345. The timeline of events is significant: - February 23, 2024: Initial refund freeze (810 code) placed before you filed - April 15, 2024: Return received with withholdings posted - April 22, 2024: Return processed (150 code) - June 10, 2024: Account hold (570) and notice issuance (971) - November 4, 2024: Additional tax assessment review completed (290 code with $0.00) The recent 290 code with $0.00 amount is positive news - it indicates the IRS review is complete and they found no additional tax due. Your account balance remains at -$50,345 with no interest or penalties assessed as of November 4th. The zero-dollar 290 code typically signals the end of a review process, suggesting your refund should be released soon barring any other holds.

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