Check if you have a 971 code coming after the 570. That usually means they sent you a notice explaining the hold

Code 570 with EIC claims is pretty standard - they're just verifying your qualifying children and income. Since your credits are already scheduled for April 15th, the IRS is confident they'll release the hold by then. The fact that you filed so early (February) actually works in your favor because there's plenty of time for them to complete their review before the scheduled release date. Most EIC verification holds clear within 4-6 weeks, and yours should be resolved well before April 15th based on the timeline shown.

mine cleared after 6 weeks. hang in there!

Looking at your transcript, the good news is your refund amount is solid at $15,621 - all your credits and withholdings add up correctly. The 570/971 combo usually means they're verifying some of your credits, possibly the large ones totaling $10,846. Since your 971 notice was issued 03-27-2023, you should have received or will receive mail explaining what they need. Sometimes it's just identity verification or documentation for certain credits. The April 16th dates you're seeing are just processing cycle dates, not your actual refund date. With a cycle code ending in 05, you're on a weekly cycle which is actually better for getting updates. Keep checking your transcript weekly for changes - once that 570 drops off, you should see an 846 refund date code pretty quickly after. Have you received any mail from the IRS yet? That 971 notice will tell you exactly what's holding things up.

Check if you can verify your identity online through ID.me - sometimes that speeds things up

I went through this exact same situation last year! The 570/971 combo is frustrating but pretty standard - it just means they're doing some kind of verification review. Since your math is perfect and you filed early, it's likely just a random audit or income verification check. The good news is your transcript shows everything processed normally on 4/17, so you're definitely getting that $8,368 refund - it's just a matter of when. The 971 notice should arrive soon and tell you exactly what they need. In my case, it was just identity verification and took about 6 weeks total once I responded to their letter. Pro tip: keep checking your transcript weekly for updates. Once you see the 570 code reverse (showing as a negative amount), your refund should be released within a few days. Hang in there!

Just a heads up - with EIC claims they're taking forever this year. My friend just got hers after 6 weeks with same codes

The 570/971 combo on your transcript is actually pretty standard for EIC claims, especially first-time filers. The IRS has increased scrutiny on Earned Income Credit returns this year due to fraud prevention measures. Since you're claiming $3,605 in EIC (which is a significant portion of your $4,894 refund), they're likely verifying your filing status, dependents, and income. The good news is your transcript shows everything processed cleanly on Feb 17th with no math errors or obvious red flags. The hold codes appeared a week later, which suggests automated review rather than a major issue. Most EIC verification holds resolve within 4-6 weeks from the 971 notice date (March 3rd in your case). Keep checking your transcript weekly for updates - you'll typically see the 570 code reverse with a 571 when they release the hold. Make sure you respond quickly to any correspondence they send requesting documentation. The $4,894 balance is already established, so once verification completes, your refund should process within days.

Don't forget that the worksheet also asks for "other assets" on Line 5. Do you have any retirement accounts, cash value life insurance, household goods, etc? You need to include the fair market value of all those things too, which might affect your insolvency calculation.

Just wanted to add some clarity on the valuation date that's really important - all your assets AND liabilities need to be valued as of the exact date your debt was canceled/forgiven, not when you're filling out the form. So if your credit card debt was forgiven on a specific date in 2024, that's the snapshot date you need to use for everything on the worksheet. This means if your 401k balance or checking account amount was different on the forgiveness date compared to now, you need to use the amounts from that specific date. Same goes for any other debts you owed at that time. I made this mistake initially and had to redo my entire worksheet when my tax preparer caught it. The IRS is very specific about using the "immediately before the discharge" amounts.