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Don't forget to check if your investment losses triggered an AMT calculation! š The IRS loves to flag those for manual review. Seriously though, Topic 152 is actually a GOOD sign - it means your return is in normal processing and a refund is expected. If you had a serious problem, you'd see a different code. The transcript access issues could be completely unrelated - their system has been having capacity problems this tax season. If you do call, have all your investment documentation ready - especially if you had wash sales or complex transactions. The first level reps might not understand investment tax issues and you might need to ask for a tax law specialist.
I had a similar situation with investment losses last year. I would suggest being very careful about how you present your case to the IRS agent. When I called, I first explained that I was checking on processing status, not disputing anything. This seemed to make the agent more willing to help. They were able to see that my return was flagged for review due to the investment losses exceeding certain thresholds. It took about 6 weeks total, but the refund was eventually processed correctly without any amendments needed.
Tbh the phone is the worst way to contact them rn. Try the IRS2Go app if u haven't already. Sometimes shows diff info than the website. Also check ur mail carefully - they might've sent a 5071C letter for ID verification. If u filed w/ a tax pro, have them call the practitioner priority line. Much faster than regular customer service. GL w/ the investment stuff, the IRS is super backed up w/ those this yr.
If you're somewhat pressed for time, which it sounds like you might be, calling the IRS directly could potentially be faster than waiting for mail delivery, though it's usually quite difficult to get through. I tried calling for three days straight last month and couldn't get past the hold times. I eventually used a service called Claimyr (https://claimyr.com) that got me connected to an IRS agent in about 30 minutes. The agent was able to verify my identity over the phone and fax the transcripts directly to my lender that same day. It probably saved me at least a week of waiting compared to the mail option.
For mortgage refinancing purposes, have you verified whether your lender requires an official IRS transcript or if they would accept a self-retrieved transcript from the IRS portal? There's a significant distinction between the Record of Account Transcript and the Tax Return Transcript that could impact your approval process. Additionally, did your lender specify which tax years they need to review for your refinance application?
This is actually a really important point. My lender initially rejected my self-printed transcripts and required ones with the official IRS stamp. Regulation Z under TILA specifically allows lenders to require official documentation directly from the IRS rather than taxpayer-provided copies. Saved me a lot of headache knowing this upfront.
I process mortgage applications and can confirm this varies by lender: ⢠Some accept self-retrieved transcripts (downloaded PDFs) ⢠Others require direct delivery from IRS to lender ⢠Most want 2 years of Tax Return Transcripts ⢠Self-employed applicants often need 3+ years ⢠Some lenders use the 4506-T form to retrieve transcripts themselves Call your loan officer immediately to confirm exactly what format they need and for which years. This is especially critical with your 10-day closing timeline.
I went through this last year and the year before. What helped me was setting up direct deposit verification alerts with my bank. This way I didn't have to obsessively check WMR - my bank would text me the moment the deposit hit. I've seen returns come through as quick as 10 days and as long as 8 weeks. The variance is surprising! I never expected tax returns to be so complicated until I started following this subreddit. The waiting game is the worst part.
Have you verified whether your return included any credits subject to additional review under the PATH Act? Also, did you receive any CP05 notices or see any TC 570/971 combination codes on your transcript? The specific delay factors can often be identified through transcript analysis if you have access to your account.
Are you using multi-factor authentication with your IRS account? The Secure Access framework they implemented last fiscal year has been causing authentication failures for many taxpayers, especially if your phone number or email has changed since initial registration. Have you tried the Get Transcript by Mail option as an interim solution?
I solved this exact problem last month! Here's what worked for me: ⢠Created a brand new IRS account (abandoned my old one) ⢠Used a different email address than before ⢠Made sure my name EXACTLY matched my tax return (including middle initial) ⢠Used a desktop computer (not mobile) ⢠Tried during early morning hours (system less busy) The transcript system is super picky about matching everything perfectly. One tiny mismatch and it locks you out with no helpful explanation.
Lia Quinn
I had this exact situation with Discover last month. Here's what happened: 1. WMR showed March 1st as my deposit date 2. TurboTax couldn't do their 5-day early thing for me 3. I still got my deposit on February 26th (3 days early) 4. Discover processed it early based on their standard policy Discover's early deposit feature works independently of TurboTax. They see the incoming ACH from the Treasury and process it early as they would with any direct deposit. You'll likely still get your money before the official date, just maybe not the full 5 days early.
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Haley Stokes
Have you checked if your TurboTax fees were taken out of your refund? That's usually what causes this issue. If fees are deducted from your refund, it goes to a temporary account first, which can interfere with early deposit features. Most people here have found that Discover still deposits 2-3 days early in these cases, just not the full 5 days. So relieved when I figured this out last year after panicking about my refund!
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