Actually, while legislation could theoretically change, we have to plan based on current tax law. According to IRC §24(h)(2), the Child Tax Credit amount is clearly established for 2024 at $2,000 per qualifying child with partial refundability. The Treasury Department has issued no guidance suggesting changes are imminent, and most tax professionals are advising clients to plan using these established figures. Waiting for potential legislation that may never materialize could result in poor tax planning and unexpected liabilities at year-end.

I just went through this whole process with my accountant for my 2023 return (filed in 2024) and discovered some key terminology that helped me understand this better. The "nonrefundable" portion versus the "refundable" portion (Additional Child Tax Credit) makes a huge difference depending on your tax liability. As a small business S-Corp owner, I was surprised to learn that my W-2 income from my S-Corp versus distribution income affected my ability to claim the refundable portion. My accountant had to explain Form 8812 three times before I fully understood how it worked with my business income!

To definitively answer your question: The IRS Account Online portal at https://www.irs.gov/payments/your-online-account is where you can view most notices and letters. For identity verification specifically, if you've received a 5071C letter, you must use idverify.irs.gov or call the toll-free number on your letter. I just went through this entire process last month as a first-time filer! The Account transcript will show TC 971 with specific notice numbers that correspond to communications sent to you. What a relief when I finally figured out the proper channels after weeks of confusion!

The IRS sends exactly 3 types of verification requests: CP05 (income verification), 5071C (identity verification), and 4883C (taxpayer protection program). You need to wait precisely 21 days after filing before checking for notices. Last year, 5.4 million taxpayers received verification requests, causing average delays of 75 days. This is completely unacceptable! The verification systems are outdated and inefficient, but you must check or risk having your return rejected without notice.

I went through this exact scenario in February! According to the IRS website at https://www.irs.gov/taxtopics/tc652, when they make math error corrections, they'll send a notice explaining the changes. Mine took 16 days from correction to deposit. The IRS2Go app showed my status change to approved exactly 12 days after the correction date. Hang in there - you're in the normal process now!

The math error correction process is actually faster than many other IRS reviews. Compared to an actual audit or identity verification, this is the best possible outcome. I'd expect your refund within 2-3 weeks from the correction date. In my experience helping clients with similar situations, these self-corrected returns typically process without further issues. Just keep checking WMR every few days rather than multiple times daily.

I recently learned that 570 codes are sometimes automatically resolved within the system. If you've received a letter requesting information, be sure to respond exactly as instructed. I was worried about my 570 code and spent weeks trying to call, but then my transcript updated with a 571 code (which reverses the 570) without me ever reaching anyone. It might be worth checking if you have access to your tax transcript online through the IRS website to see if there are any additional codes that might explain what's happening.

I had a 570 code appear exactly 14 days after filing. Called the IRS 27 times over 3 days and finally got through at 7:02am. The agent explained my refund was held because I had claimed $4,200 in education credits that needed verification. They released the hold while I was on the phone, and my refund was deposited exactly 8 days later. The whole experience taught me that persistence is key - but also that having your transcript handy when you call saves a lot of time since the agents can immediately see what's causing the hold.

Have you considered setting up automatic transfers between your accounts instead of splitting the refund? It's like having one main river (your primary account) that you can direct to different streams (your other accounts) whenever you want. This gives you more control and visibility of the total refund, plus you can adjust the amounts if needed. Most banks offer free transfers between linked accounts these days.

The Form 8888 (Allocation of Refund) allows taxpayers to split refunds into up to three different accounts. Based on community experience, the deposit sequence varies by financial institution rather than IRS scheduling. Military-affiliated banks like USAA and Navy Federal typically process deposits 1-2 days earlier than the official Direct Deposit Date (DDD) shown on your transcript with code 846. For PATH Act-affected returns (those claiming EITC or ACTC), the earliest possible DDD this year was February 19th, with most receiving funds between February 20-27th.