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Looking for a sanity check on my expected refund. Family of 5, husband had $1500 withheld from his W2 job making $38500. I did 1099 work making about $22000. Calculator showing around $2800 refund. Just wanted to make sure this sounds right before getting my hopes up.
I noticed something interesting on the transcripts. People with blank transcripts have a processing start date listed as their 'As of date'. Anyone else think this means we'll see movement once we hit that date? Been tracking a few cases and it seems like a pattern.
I filed my 2022 taxes as Head of Household with an AGI of $27,194.00 and taxable income of $7,794.00. According to my account transcript from the IRS, I'm supposed to get a refund of $13,022.00, which includes $5,342.00 in W-2 withholdings, $3,000.00 in credits, and $4,680.00 in Earned Income Credit. Here's what my transcript shows: FORM NUMBER: 1040 TAX PERIOD: Dec. 31, 2022 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: $27,194.00 TAXABLE INCOME: $7,794.00 TAX PER RETURN: $0.00 SE TAXABLE INCOME TAXPAYER: $0.00 SE TAXABLE INCOME SPOUSE: $0.00 TOTAL SELF EMPLOYMENT TAX: $0.00 ACCOUNT BALANCE: -$13,022.00 ACCRUED INTEREST: $0.00 AS OF: Apr. 17, 2023 ACCRUED PENALTY: $0.00 AS OF: Apr. 17, 2023 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): -$13,022.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER): Apr. 15, 2023 PROCESSING DATE: Apr. 17, 2023 TRANSACTIONS: CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT 150 Tax return filed 20231305 04-17-2023 $0.00 76211-420-00073-3 806 W-2 or 1099 withholding 04-15-2023 -$5,342.00 766 Credit to your account 04-15-2023 -$3,000.00 768 Earned income credit 04-15-2023 -$4,680.00 570 Additional account action pending 04-17-2023 $0.00 Everything was processed on April 17, 2023 (cycle 20231305), but I'm seeing a 570 code (Additional account action pending) on my transcript. My return was filed before the due date of April 15, 2023, and everything seemed to process normally until this 570 code appeared. The transcript shows my account balance is -$13,022.00 with $0.00 in accrued interest and penalties as of April 17, 2023, but I still haven't received my refund. Anyone know what this 570 code means or how long I'll be waiting? This refund amount is really important to me right now and I'm getting worried seeing this pending action code with no explanation.
Just checked my transcript and saw code 846 with issue date of 2/12/2025! Only other code showing is 806 for tax withholding. Anyone know when WMR typically updates after getting the 846 code?
Just got my transcript and im super confused about where to find the actual refund amount. There's lots of numbers but I see something called account balance. Is that what I'm supposed to be looking at to know how much im getting back? Don't want to get my hopes up looking at the wrong number.
Keisha Thompson
make sure ur claiming all them expenses on that 1099 income! mileage, home office, supplies n stuff can help offset the SE tax ๐ฏ
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Paolo Bianchi
Detailed breakdown: Your household income puts you in prime territory for max EITC. With 3 kids and combined income of ~$60.5k, you're looking at substantial credits. However, you'll owe ~$3,100 in SE tax on 1099 income. After factoring Child Tax Credits, EITC, and SE tax, $2,800 might be low. I'd strongly recommend using taxr.ai (https://taxr.ai) to get an exact calculation - it'll analyze all potential credits and deductions. Just upload your docs and it'll give you a complete picture. Worth the $1 to know exactly where you stand.
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Yara Assad
this is the real answer right here! โฌ๏ธ
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