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Can someone help me understand my 2024 tax transcript? I just received it and want to make sure I'm reading everything correctly. I have my IRS Account Transcript from the Internal Revenue Service (United States Department of the Treasury) for Tax Period ending December 31, 2024. I filed as Head of Household and I'm showing a balance of -$6,542.00. My adjusted gross income was $21,530.00 with taxable income of $0.00. Looking at the account details: - ACCOUNT BALANCE: -$6,542.00 - ACCRUED INTEREST: $0.00 AS OF: Feb. 17, 2025 - ACCRUED PENALTY: $0.00 AS OF: Feb. 17, 2025 - ACCOUNT BALANCE PLUS ACCRUALS: -$6,542.00 (this is not a payoff amount) Under "INFORMATION FROM THE RETURN OR AS ADJUSTED": - EXEMPTIONS: 03 - FILING STATUS: Head of Household - ADJUSTED GROSS INCOME: $21,530.00 - TAXABLE INCOME: $0.00 - TAX PER RETURN: $3,273.00 - SE TAXABLE INCOME TAXPAYER: $21,394.00 - SE TAXABLE INCOME SPOUSE: $0.00 - TOTAL SELF EMPLOYMENT TAX: $3,273.00 Looking at the transactions section: - Tax return filed (Code 150): $3,273.00 on 02-24-2025 (Cycle 20250603) - Credit to your account (Code 766): -$2,855.00 on 04-15-2025 - Earned income credit (Code 768): -$6,960.00 on 04-15-2025 The RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) is Apr. 15, 2025, and the PROCESSING DATE was Feb. 24, 2025. I'm self-employed, and I see my SE taxable income is $21,394.00 with a total self-employment tax of $3,273.00. I notice I received an EIC credit of -$6,960.00 and another credit of -$2,855.00. Does this all look correct for my situation? I want to verify before counting on that -$6,542.00 refund amount! I don't see any accrued interest or penalties, which seems good, but I want to make sure I'm not missing anything important.
Filed my return yesterday morning at 6am through TurboTax and still waiting to see if its accepted or rejected. Anyone know the typical timeline for this? Getting anxious since I'm expecting a decent refund this year.
I filed my taxes on January 29th through H&R Block online and I'm really concerned about what I'm seeing on my transcript. I just pulled my Account Transcript today (02-06-2025) for Tax Period Dec. 31, 2024, and it's completely blank. The transcript literally just says "RETURN NOT PRESENT FOR THIS ACCOUNT" under every section. Here's exactly what I'm seeing on my Account Transcript: --- Internal Revenue Service United States Department of the Treasury This Product Contains Sensitive Taxpayer Data Request Date: 02-06-2025 Response Date: 02-06-2025 Account Transcript FORM NUMBER: 1040 TAX PERIOD: Dec. 31, 2024 ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT ACCOUNT BALANCE: 0.00 ACCRUED INTEREST: 0.00 AS OF: Feb. 17, 2025 ACCRUED PENALTY: 0.00 AS OF: Feb. 17, 2025 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): 0.00 .. INFORMATION FROM THE RETURN OR AS ADJUSTED .. EXEMPTIONS: 00 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: RETURN NOT PRESENT FOR THIS ACCOUNT TAXABLE INCOME: RETURN NOT PRESENT FOR THIS ACCOUNT TAX PER RETURN: RETURN NOT PRESENT FOR THIS ACCOUNT SE TAXABLE INCOME TAXPAYER: RETURN NOT PRESENT FOR THIS ACCOUNT SE TAXABLE INCOME SPOUSE: RETURN NOT PRESENT FOR THIS ACCOUNT TOTAL SELF EMPLOYMENT TAX: RETURN NOT PRESENT FOR THIS ACCOUNT TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT No tax return filed This Product Contains Sensitive Taxpayer Data --- Even basic info like my Adjusted Gross Income, Taxable Income, and Tax Per Return are all completely empty with that "RETURN NOT PRESENT FOR THIS ACCOUNT" message. The only numbers showing up are zeros - Account Balance: 0.00, Accrued Interest: 0.00 (as of Feb. 17, 2025), and Accrued Penalty: 0.00. Under Transactions, it just says "No tax return filed." My filing status is correctly showing as Head of Household, but everything else is blank. I don't understand why after 10 days there's still no indication that my return was even received. My H&R Block confirmation shows I submitted on January 29th, but the IRS system has absolutely no record of it according to this transcript. Getting really worried since I need this refund. Is it normal for the transcript to show nothing at all 10 days after filing? The "No tax return filed" message under Transactions is especially concerning - does this mean they never got my return or just haven't processed it yet? Anyone else experiencing this or know how long this is normal for?
I filed an amendment on 4/13/2024 to remove sick leave credits that my previous tax preparer incorrectly added. Looking at my transcript, I can see: INCOME: 48,068.00 TAXABLE INCOME: 20,368.00 TAX PER RETURN: 402.00 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, 2024 PROCESSING DATE: Oct. 28, 2024 I completed in-person verification on 9/19, and my transcripts updated last week on 10/28/2024, but they're still showing all the credits that shouldn't be there. The TRANSACTIONS section of my transcript shows: CODE EXPLANATION OF TRANSACTION | CYCLE | DATE | AMOUNT 150 Tax return filed | 20244105 | 10-28-2024 | $402.00 32221-436-32723-4 806 W-2 or 1099 withholding | 04-15-2024 | -$3,851.00 810 Refund freeze | 03-28-2024 | $0.00 971 Amended tax return or claim forwarded for processing | 04-13-2024 | $0.00 977 Amended return filed | 04-13-2024 | $0.00 33277-511-86231-4 766 Credit to your account | 04-15-2024 | -$4,800.00 766 Credit to your account | 04-15-2024 | -$10,498.00 766 Credit to your account | 04-15-2024 | -$9,830.00 768 Earned income credit | 04-15-2024 | -$3,227.00 570 Additional account action pending | 10-28-2024 | $0.00 The total credits showing are $28,355.00, which I amended to remove. My W-2 withholding shows as $3,851.00. I can see the amendment was received (codes 971 and 977 from 04-13-2024), and there's currently a refund freeze (code 810) from 03-28-2024 and additional account action pending (code 570) as of 10-28-2024. When will the transcript show the correct amounts without these credits? The tax preparer incorrectly claimed sick leave credits and EIC that I'm not eligible for, and I'm worried about potential penalties if this isn't resolved soon. This Product Contains Sensitive Taxpayer Data, so I'm especially concerned about getting this fixed properly.
Finally figured out why I got the 810 freeze code on my transcript. Did some research and found out its because of past IRS debt. When I called the automated system it said no offset but when I checked my account online theres definitely old tax debt they're gonna take from my refund. Anyone else dealt with this contradiction between the phone system and online account?
Dylan Campbell
head of household + EIC + self employment, looks exactly like my situation last year. ur good to go fam
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Sofia Hernandez
Anyone else notice how much faster processing is this year? Last year I waited forever but 2024 returns seem to be moving quick
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Dmitry Kuznetsov
fr fr the IRS finally got their act together ๐
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Ava Thompson
dont jinx it lol ๐คซ
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