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verified in March, got my refund exactly 6 weeks later. just keep checking your transcript for updates
I'm going through the same thing right now! Just verified through ID.me about 10 days ago and the waiting is killing me. From what I've read on here and other forums, it seems like most people are getting their refunds between 4-9 weeks after verification. The IRS website says up to 9 weeks but some folks are getting lucky with faster processing. I've been checking my transcript obsessively but no updates yet. Hang in there - we're almost at the finish line! š¤
I'm still waiting after verifying my identity 6 weeks ago. Called twice and both times was told "just keep waiting." This system is completely broken. š
Based on my experience and what I've seen others go through, the timeline really varies but here's what you can expect: Most people see their refunds 2-4 weeks after successful ID verification through ID.me. Since you just verified last week, you're still well within the normal timeframe. A few tips while you wait: - Check your IRS account transcript online if you haven't already - it often updates before WMR does - Don't panic if you see codes 570/971 on your transcript right after verification - that's normal - If you claimed EITC or Child Tax Credit, it may take longer due to PATH Act holds The good news is that once you've successfully verified through ID.me, that step is completely done. Now it's just a matter of normal processing time. Hang in there!
This is really helpful, thank you! I've been checking WMR obsessively but haven't looked at my transcript yet. Quick question - when you say "IRS account transcript online," do you mean the Get Transcript tool on the IRS website? And if I see those 570/971 codes, does that mean they're actually working on my return or just that it's sitting in a queue somewhere?
I'm so glad I found this thread! I'm in my second year of self-employment and just set up a SIMPLE IRA last month. I was planning to make my first contribution in January for the 2024 tax year, but after reading all of this I'm wondering if I should just wait until I have a better handle on my income for the year. It sounds like the timing mismatch between Form 5498 and tax returns is totally normal, but as someone who's never dealt with this before, it's still pretty intimidating. Has anyone here made their very first SIMPLE contribution for a prior year? I'm curious if there are any additional gotchas for first-time contributors that I should be aware of. Also, for those who mentioned keeping documentation of the tax year designation - what exactly should I be looking for from my broker when I make the contribution? Want to make sure I'm keeping the right paperwork from day one!
Welcome to the self-employment world! Your first SIMPLE contribution doesn't have any special gotchas - the same rules apply whether it's your first or tenth contribution. The key is just making sure you designate it properly for the tax year you want when you make it. When you make your contribution, your broker should give you some kind of confirmation (either electronic or paper) that specifically states which tax year you're designating the contribution for. Look for language like "2024 tax year contribution" or "prior year contribution for tax year 2024" on the confirmation. Some brokers will also note this on your account statements. If you're making the contribution online, there's usually a dropdown or checkbox where you select the tax year - take a screenshot of that screen before submitting. If you're calling it in, ask them to email you a confirmation that includes the tax year designation. Don't overthink it too much! As everyone here has confirmed, this timing difference is completely routine. The IRS deals with thousands of these cases every year. Just keep good records and you'll be fine. The fact that you're already thinking about proper documentation puts you ahead of most people!
This thread has been incredibly helpful! I'm dealing with a similar situation but with a SEP-IRA instead of SIMPLE. Made a $8,200 contribution in February 2024 for tax year 2023, and just like everyone here described, it's not showing up on my 2023 Form 5498. What's reassuring is seeing so many people confirm this is normal and that the IRS expects these timing differences. I was starting to think I had messed up the designation somehow, but it sounds like this is just how the system works. One thing I'm curious about - does anyone know if there's a deadline for when the "prior year" contributions need to be made? I know with regular IRAs it's the tax filing deadline (usually April 15), but I haven't been able to find clear guidance on whether SEP and SIMPLE IRAs follow the same timeline. My tax preparer mentioned something about it possibly being different for employer-sponsored plans like these, but wasn't 100% certain. Thanks to everyone who shared their experiences and especially those who got direct confirmation from the IRS. It's saved me a lot of stress knowing this mismatch is expected and routine!
whats their number???
Pro tip: check your transcript every Tuesday and Friday morning. Thats when they usually update the system.
Thanks for the tip! I've been checking randomly throughout the week but didn't know there was actually a pattern to when they update. Will definitely start checking Tuesday/Friday mornings now š
Lydia Bailey
I'm dealing with the exact same thing right now! Filed in early February, got accepted immediately, and now it's been almost 3 months with just a blank transcript. My "as of date" also changed recently from March to April. It's so frustrating seeing everyone else get their refunds while we're still waiting. I've been checking my transcript obsessively too - probably not helping my stress levels but I can't help it when it's thousands of dollars just sitting somewhere in limbo. Really hoping this date change actually means something positive is happening behind the scenes. Keep us updated if you see any movement!
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Yara Haddad
ā¢I'm in the exact same boat! Filed early February, accepted right away, and now just waiting and waiting. The obsessive transcript checking is so real - I probably check mine 3 times a day even though I know it's not helping anything. It's just so hard when you're expecting that money and have no idea what's actually happening on their end. Fingers crossed both our "as of date" changes actually mean progress this time! š¤
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Mateo Lopez
I'm going through the exact same situation! Filed in late January, got accepted within days, and it's now been over 3 months with absolutely nothing on my transcript except for that "as of date" that keeps changing. Mine went from February to March, then March to April, and just changed again to May. It's so maddening because you have no idea if it actually means anything or if it's just their system randomly updating dates while your return sits in some black hole. What really gets me is that I have friends who filed their taxes in March and already got their refunds weeks ago, while those of us who were responsible and filed early are still stuck waiting. I've also been checking my transcript multiple times a day (I know, I know, it's not healthy) but when you're expecting several thousand dollars it's hard not to obsess over every little change. The worst part is the complete lack of transparency from the IRS. Like, just tell us what's happening! Are they reviewing something? Waiting for verification? Lost in a pile somewhere? The uncertainty is killing me. Really hoping this latest date change actually means movement for both of us!
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