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Why Does My Tax Preparer Say I Owe When IRS Transcript Shows $451 Credit Balance and "Additional Account Action Pending"?

I'm confused about my 2022 tax transcript. It shows a balance of -$451.41 as of Apr. 03, 2023, but my tax preparer said I owe money. I've gotten mixed answers from different people. Looking at my transcript, it clearly states "ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT" and shows: ACCOUNT BALANCE: -451.41 ACCRUED INTEREST: 0.00 AS OF: Apr. 03, 2023 ACCRUED PENALTY: 0.00 AS OF: Apr. 03, 2023 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): -451.41 Under "INFORMATION FROM THE RETURN OR AS ADJUSTED" it shows: EXEMPTIONS: 01 FILING STATUS: Single ADJUSTED GROSS INCOME: 26,018.00 TAXABLE INCOME: 13,068.00 TAX PER RETURN: 0.00 SE TAXABLE INCOME TAXPAYER: 0.00 SE TAXABLE INCOME SPOUSE: 0.00 TOTAL SELF EMPLOYMENT TAX: 0.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) Apr. 15, 2023 PROCESSING DATE Apr 03, 2023 The transactions section shows: CODE EXPLANATION OF TRANSACTION | CYCLE | DATE | AMOUNT 150 Tax return filed | 20231105 | 04-03-2023 | $0.00 80221-467-22911-3 806 W-2 or 1099 withholding | | 04-15-2023 | -$841.00 670 Payment | | 02-01-2023 | -$100.00 670 Payment | | 01-31-2023 | -$21.00 766 Credit to your account | | 04-15-2023 | -$1,000.00 826 Credit transferred out to | | 04-03-2023 | $1,510.59 1040 202112 971 Notice issued | | 04-03-2023 | $0.00 570 Additional account action pending | | 04-03-2023 | $0.00 I made two payments early in the year - one for $21.00 on January 31st and another for $100.00 on February 1st. I also had W-2/1099 withholding of $841.00 and received a credit of $1,000.00. There was a credit transfer out of $1,510.59 to a 2021 1040. I'm especially confused about the code 570 showing "Additional account action pending" from April 3rd, and they issued a notice (code 971) on that same date. Can someone help me understand what all this means? Why would my tax preparer say I owe when I see negative numbers and credits on the transcript, and the account balance clearly shows -$451.41?

Joshua Hellan

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Your AGI was 26k but only 13k taxable? Did you claim any credits or deductions? That might be why theres a hold up

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Jibriel Kohn

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the IRS is such a mess rn fr fr... they need to get it together

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straight up clown show 🤔

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Millie Long

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these clowns at the irs got us all stressed checking numbers like were solving a rubiks cube fr fr 🤔

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KaiEsmeralda

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LITERALLY THO šŸ’€

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Debra Bai

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mine changed to 02 last month and got my refund exactly 2 weeks later. hang in there!

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ugh the irs is such a joke this year. im in week 6 of waiting and still nothing 🤔

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PaulineW

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PSA: If you're seeing a blank transcript, here's what you need to know: - Blank transcripts mean your return hasn't started processing yet - Weekly updates happen Friday mornings around 3-6am EST - Could take 2-8 weeks for initial processing - Check WMR tool daily - Consider using taxr.ai - it's been super helpful for tracking/understanding delays - If no movement by week 8, call IRS directly Hang in there everyone!

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this should be pinned fr fr šŸ’Æ

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Laila Prince

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mine was stuck on 01 for 4 months last year. finally moved when i contacted my congressman's office

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Did you just call their office? I might try this

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Laila Prince

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yea just google ur local rep and fill out the tax help form on their website

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Isabel Vega

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took me 8 months to get past 01 last year. system is broken af

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Protip: The Where's My Refund tool updates before transcripts usually

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Ayla Kumar

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your in the same boat as alot of us. The IRS is slower than molasses this year

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slower than my grandma using the internet tbh

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