CP0005 Notice & 570 Code: $9,350 EIC Refund Pending 9 Weeks After ID Verification
Filed my taxes and got verified about 2 weeks ago. Just checked my transcript and there's a cp0005 code that wasn't there before. My refund amount is showing -$10,350.00 with $0.00 in accrued interest and $0.00 in accrued penalties as of 09-30-2024. When I look at my transcript it clearly states: "Any minus sign shown below signifies a credit amount Account balance: -$10,350.00 Accrued interest: $0.00 As of: 09-30-2024 Accrued penalty: $0.00 As of: 09-30-2024 Account balance plus accruals (this is not a payoff amount): -$10,350.00" I filed as Head of Household with an adjusted gross income of $33,740.00 and taxable income of $12,940.00. The transcript shows: "Exemptions: 03 Information from the return or as adjusted Filing status: Head of Household Adjusted gross income: $33,740.00 Taxable income: $12,940.00 Tax per return: $0.00 SE taxable income taxpayer: $0.00 Total self employment tax: $0.00" Looking at the transactions, I see credits including -$3,707.00 and an earned income credit of -$5,042.00 dated 04-16-2024. There's also a code 570 showing "Additional account action pending" and a 971 "Notice issued" dated 04-23-2024 with the CP0005 code. The full transactions section shows: "TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT No tax return filed 766 Credit to your account 04-16-2024 -$3,707.00 768 Earned income credit 04-16-2024 -$5,042.00 570 Additional account action pending 04-16-2024 $0.00 971 Notice issued 04-23-2024 $0.00 CP 0005" The transcript says "Return due date or return received date (whichever is later): 04-15-2024" and "Processing date: 04-15-2024" Been waiting for 9 weeks now and getting really worried. The transcript even says "No tax return filed" at the top of the transactions section even though I definitely filed! Anyone know what this means? The processing date shows 04-15-2024, but I still haven't received anything, and I'm concerned about this CP0005 notice and the "Additional account action pending" status.
16 comments
Join the conversation
Landon Morgan
Your transcript shows a total refund amount of $9,350, which is made up of two main credits: a standard credit of $2,707 (code 766) and an Earned Income Credit of $4,042 (code 768). You're filing as Head of Household with an adjusted gross income of $33,740 and taxable income of $12,940, which aligns with EIC eligibility. Currently, there are two important codes on your transcript: a 570 code (account hold) dated 04-15-2024 and a 971 code (notice issued) dated 04-22-2024. This combination typically indicates the IRS is reviewing something in your return. The CP0005 code you're seeing isn't an issue - it's simply a notation indicating that your transcript contains sensitive taxpayer data. Your processing date is shown as 04-15-2024, and there are no penalties or interest accruing on your account (both showing $0.00 as of 09-30-2024). Since you've already completed identity verification two weeks ago, you should expect to see movement on your account within the standard 9-week review period from your verification date. The negative signs in front of the dollar amounts (-$9,350.00, -$2,707.00, -$4,042.00) are good news - they indicate credits in your favor, meaning money the IRS owes to you rather than you owing them.
0 coins
Ellie Perry
Authoromg thank you so much! I've been stressing about this ðŸ˜
0 coins
Teresa Boyd
im in the exact same boat. verified 7 weeks ago and still waiting 🙄
0 coins
Lourdes Fox
Hey guys! I was stuck in this same situation but I found this amazing tool called taxr.ai that helped me understand exactly what was going on with my transcript. It cost $1 but totally worth it - gave me a specific timeline and everything. Check it out: https://taxr.ai
0 coins
Bruno Simmons
for real? how accurate was it? seems to good to be true tbh
0 coins
Lourdes Fox
Dead serious! It analyzed everything and told me exactly why I had the hold and when to expect my refund. Even told me what the codes meant that I didn't understand 💯
0 coins
Bruno Simmons
just tried it and WOW you weren't kidding! Finally know exactly whats going on with my refund 🙌
0 coins
Aileen Rodriguez
The IRS is such a joke this year fr fr. Been waiting 11 weeks after verification 🤡
0 coins
Zane Gray
fax no printer 💅 they got us all waiting like 🤡🤡🤡
0 coins
Maggie Martinez
thats a pretty big refund! make sure u verified with id.me and not just regular verification
0 coins
Alejandro Castro
Try calling the tax advocate service. They helped me get mine unstuck after 12 weeks of nothing happening
0 coins
Ellie Perry
Authorwhats their number?
0 coins
Alejandro Castro
1-877-777-4778 but get ready to be on hold foreverrrrr
0 coins
Monique Byrd
Did u check wmr? sometimes it updates before transcripts do
0 coins
Ellie Perry
Authoryea still says processing 😪
0 coins
Jessica Suarez
The good news is your transcript actually looks pretty normal for someone in the ID verification process! That "No tax return filed" at the top is just a glitch in how the IRS system displays transcripts during processing - it doesn't mean they don't have your return. Your processing date of 04-15-2024 confirms they received it. The 570 code with the 971 notice is standard procedure when they need additional verification. Since you completed ID verification 2 weeks ago, you should see the 570 code reverse (usually shows as a 571 code) within the next few weeks, followed by your refund being released. Your EIC amount looks correct for your income level and HOH status. Just keep monitoring your transcript weekly - once that 570 reverses, your refund should process within 1-2 cycles. Hang in there! 🤞
0 coins