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Pro tip: always review your return before its submitted! I learned this the hard way last year lol

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The IRS is such a joke these days. Making us wait 180 days because someone rounded numbers? Give me a break 🤔

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Dyllan Nantx

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facts. system is broken af

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Andre Dubois

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the waiting game begins šŸŽ² welcome to the party

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CyberSamurai

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depends on your cycle code. some ppl update tuesdays some fridays but you wont know ur cycle till first update hits

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what's a cycle code? šŸ¤”

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CyberSamurai

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its like ur processing group. last 2 digits tell u what day u update. 05=thurs night, 02=tues night

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Its frustrating but hang in there! My 2022 return was stuck for 6 months before it finally processed. No rhyme or reason to it tbh

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Miguel Ortiz

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DETAILED ANALYSIS: As someone who deals with IRS delays regularly, here's what's likely happening: 1. Early filers often face longer delays due to fraud prevention 2. No codes usually means manual review is needed 3. System backlogs are worse than ever this year RECOMMENDED STEPS: - Keep checking WMR weekly - Use taxr.ai to analyze your transcript (seriously, best tool out there) - Follow up with congressman every 10 days - Request Taxpayer Advocate if hardship is severe Dont lose hope! The return will process eventually.

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Thank you! This is super helpful šŸ™

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IRS Transcript Shows $1,719 Balance Due Despite $39,513 Income and $1,546 Withholding - Self-Employment Tax Included

I just got my 2022 tax transcript and I'm super confused. It's showing I owe $1,719.49 but I was expecting a refund. According to the transcript from the Internal Revenue Service (United States Department of the Treasury), my Adjusted Gross Income is $39,513.00 and my taxable income is $26,563.00. I had withholdings of $1,546.00 from my W-2/1099, but they're showing a total tax per return of $3,254.00. They're also showing self-employment taxable income of $1,764.00 with a self-employment tax of $270.00. I'm filing as Single with 1 exemption, and now they've even added a late payment penalty of $8.54 and interest charges of $2.95. The processing date was April 24, 2023, and the return due date or return received date (whichever is later) was April 15, 2023. Looking at the transactions on my Account Transcript (Request Date: 04-08-2023): - Tax return filed: $3,254.00 (Cycle date: 20231405, 04-24-2023, Code 150) - W-2 or 1099 withholding: -$1,546.00 (04-15-2023, Code 806) - Penalty for late payment of tax: $8.54 (Cycle date: 20231405, 04-24-2023, Code 276) - Interest charged for late payment: $2.95 (Cycle date: 20231405, 04-24-2023, Code 196) This brings my total account balance to $1,719.49. The transcript states that this is not even the final payoff amount with accruals, though it shows accrued interest of $0.00 and accrued penalty of $0.00 as of Apr. 24, 2023, with the "account balance plus accruals" still at $1,719.49. There's even a tracking number on the transcript: 10. Can someone help me understand what's going on with these numbers? This has to be wrong right? I'm completely baffled because I was expecting money back, not to owe nearly $1,800!

Wait until you see how much self employment tax goes up when you make more lololol welcome to the club 🤔

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This is why I always tell ppl to use a tax professional their first year of self employment. Its worth the money to get it setup right

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Beth Ford

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facts! learned this the hard way too

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Ryan Young

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Did you claim EIC or ACTC? Those credits usually mean longer processing times

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Ashley Adams

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yeah claimed both actually. wish i knew that before 😭

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Sophia Clark

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My transcript was blank for 6 weeks then suddenly updated with DDD. Sometimes it just be like that

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Ashley Adams

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that gives me hope ngl

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