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I filed my taxes but realized I left off a bunch of business deductions and expenses. Plus I got a 1099 in the mail that I thought wasnt coming. Should I amend or wait it out? Anyone else make this mistake and know what to do?
Just checked WMR this morning and saw my transcript updated. I'm cycle 05 and wondering if anyone else got movement today. Would love to know what others are seeing.
Just checked my transcript for my 2023 tax return and noticed my 810 freeze code disappeared. Still showing the 570 additional account action pending from 04-15-2024 though. I can see my credits - the $5,139 for CTC (code 766) and $4,772 for EIC (code 768) are there, but no DDD yet. My total refund amount should be $13,704.00 according to my account balance. Here's what my transcript shows: Internal Revenue Service United States Department of the Treasury This Product Contains Sensitive Taxpayer Data Request Date: 10-22-2024 Response Date: 10-22-2024 Account Transcript Form Number: 1040 Report for Tax Period Ending: 12-31-2023 Account balance: -$13,704.00 Accrued interest: $0.00 As of: 08-27-2024 Accrued penalty: $0.00 As of: 08-27-2024 Account balance plus accruals (this is not a payoff amount): -$13,704.00 Exemptions: 04 Information from the return or as adjusted: Filing status: Head of Household Adjusted gross income: $38,949.00 Taxable income: $18,149.00 Tax per return: $0.00 SE taxable income taxpayer: $0.00 Total self employment tax: $0.00 Return due date or return received date (whichever is later): 04-15-2024 Processing date: 04-15-2024 TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT No tax return filed 766 Credit to your account 04-15-2024 -$5,139.00 768 Earned income credit 04-15-2024 -$4,772.00 570 Additional account action pending 04-15-2024 $0.00 971 Amended tax return or claim forwarded for processing 04-16-2024 $0.00 971 Amended tax return or claim forwarded for processing 07-17-2024 $0.00 I filed Head of Household with AGI of $38,949.00 and taxable income of $18,149.00. Processing started on 04-15-2024, and I've had two 971 codes show up (04-16-2024 and 07-17-2024) for amended returns or claims forwarded for processing. Really need this $13,704 refund to come through. It shows "No tax return filed" at the top of my transactions but then lists all my credits and shows the 570 code. Interestingly, my transcript shows I have 04 exemptions, but I don't see any record of my refundable tax credits besides the EIC. Anyone else notice their 810 code missing but still stuck with a 570? I'm hoping this means movement on my return finally. I checked today (10-22-2024) and the transcript was just updated. Been waiting since April and it's already October!
My WMR app has been stuck on 'still processing' for weeks but I checked my transcript today and saw updates. Anyone else experience this? Getting really confused about which one to trust at this point.
I keep owing money to the IRS and I'm tired of it. Last year with a dependent I owed $1,200. This year I removed the dependent and still owed $500! I make 49k a year. What am I doing wrong with my withholdings? How do I fix this so I don't keep owing?
Leo Simmons
Here's what you need to know about amending with business expenses: - Gather ALL receipts and documentation for expenses - Make sure expenses are actually deductible - Use Schedule C to report business income/expenses - File 1040-X with corrected amounts - Include any missing 1099s - Consider using taxr.ai to analyze your situation first - saved me tons of headache with my amendment - Expect 16-20 week processing time - You may owe penalties/interest on unreported income - File ASAP to minimize penalties
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Felix Grigori
Authorthis is super helpful, thank u! gonna check out that tool
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Lindsey Fry
lol irs computers go brrrrr finding those 1099s ๐ค
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Saleem Vaziri
fr fr they dont miss anything these days ๐
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