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So frustrating how the IRS holds onto our money for "reviews" but if we owe them, we better pay on time with interest! π The double standard is real.
Preach! They can take their sweet time giving us our money but we're penalized instantly if we're late. Make it make sense!
And they don't even pay us interest until after 45 days. Such a scam.
I used to freak out about these codes until I realized how common they are. Last year had 570, got my refund 3 weeks later with no contact from IRS. Year before had 420 examination code, got a letter, sent in docs, and still got full refund. Their system flags things automatically - try not to panic.
Meanwhile, I owed $312 in taxes this year and they cashed that check within 3 DAYS of receiving it. Funny how that works! They sure don't have any delays processing payments TO them... π
And they charge interest and penalties if you're even one day late paying them. But they can hold our refunds for months with no consequences!
FACTS! π―
Not to freak you out but have you checked if someone filed a return using your SSN? My friend had this happen to him last year - his transcript was blank but it turns out someone had already filed a fraudulent return with his info early in the season. Might be worth checking your credit report just to be safe.
He finally got through to the IRS and they told him. But don't panic - if you got an acceptance notification for YOUR return, that means the IRS accepted it under your SSN, so probably not identity theft. My friend never got an acceptance, his return was rejected.
Anyone else remember when refunds used to take like 2 weeks max? The IRS gets worse every year I swear. My parents told me they used to get their refunds in like 7-10 days back in the 90s.
For real! My first tax return in 2008, I filed and literally had the money 8 days later. Now we're sitting here begging for scraps of information 6 weeks later like π€‘
Congress keeps cutting their budget and then everyone complains when service gets worse. What did people expect would happen? π€·ββοΈ
Try checking your account transcript on the IRS website. It will show if they issued a direct deposit and to what account number (last 4 digits). You'll be able to see if they sent it to the wrong account or if it was never issued in the first place.
Great advice! The transcript shows WAY more info than Where's My Refund ever does.
THIS IS WHY I ALWAYS GET A PAPER CHECK! Yes it takes longer but at least I can track it with informed delivery and there's no bank issues to worry about. The direct deposit system is broken.
Ravi Choudhury
Your transcript will show a 150 code when your return has been processed and entered into the system. Until then, it will look empty. Most returns are taking about 15-20 days for that first code to appear from what I've seen on this sub. Don't panic yet!
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CosmosCaptain
Why would anyone file their tax returns in 2025 for their 2024 taxes already??? I think you mean 2023 and 2024 for filing dates.
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Freya Johansen
β’The filing season for 2024 taxes opened in January 2025. That's normal. You always file the previous year's taxes in the current year.
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CosmosCaptain
β’Omg you're right. I'm an idiot. I was thinking about the tax YEAR not the filing year. π€¦ββοΈ Need more coffee clearly!
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