CP05 Notice: IRS Reviewing My 2024 Tax Return Filed in February - Could Take 60 Days For Refund

A CP05 means the IRS is performing a routine verification of your tax return information. This is quite common and doesn't necessarily indicate any problems with your filing. They're cross-checking your reported income, withholding, and credits against information they've received from employers and financial institutions. Unfortunately, there's not much you can do to speed up the process. As the notice states, they need up to 60 days to complete their review. During this time: 1. Don't call them before the 60 days is up - they won't have any additional information 2. Keep checking the Where's My Refund tool for updates 3. Make sure all your tax documents match what you reported In most cases, they'll simply process your refund after verification. Some people get their refunds faster than the 60-day estimate. If they need additional information, they'll send another notice specifying exactly what they need.

I was in a similar situation earlier this year. Getting those notices is so stressful when ur counting on that money! I was trying to understand what was happening with my transcript and refund for weeks and getting nowhere until I found taxr.ai - it analyzed everything and explained exactly what was happening with my return in simple terms. It literally saved me hours of research and anxiety. Not trying to sound like a commercial lol but it really helped me understand what the hold up was with my review and when I could expect resolution. Here's the link if anyone wants to check it out: https://taxr.ai

I was stuck in review hell for my 2023 return. After waiting for 45 days with no updates and really needing my refund, I found this app called Claimyr that got me through to an actual IRS agent in under an hour! The agent was able to tell me exactly what the holdup was (a mismatch with one of my W2s) and I got my refund released the next week. Check them out at claimyr.com if you need to talk to someone at the IRS without wasting your entire day on hold.

The IRS is such a joke. They hold onto our money for months but if we owe them, they want payment immediately with interest and penalties. Every year its the same BS with these reviews and delays. I got the same notice and it took the FULL 60 days plus another week before I got my refund. No explanation, no apology, nothing. Just had to wait.

Did you claim the Earned Income Credit or Child Tax Credit? Those automatically trigger reviews in many cases. I had this happen twice when claiming EITC.

Make sure you double check all the information on your tax return against your W-2s, 1099s and other tax documents. Any small discrepancy can trigger these reviews. I had a CP05 notice because my employer reported my income as $42,568 but I typed $42,586 on my return - a simple typo caused a month-long delay.

Whatever you do, DO NOT CALL THEM before the 60 days. Total waste of time. They'll just tell you they can't give you any info and to wait the full period. Been there, done that, got the t-shirt 🙃

I work as a tax preparer (not giving professional advice, just sharing experience). These CP05 notices have become much more common in the last couple years as the IRS tries to crack down on fraudulent returns. About 80% of my clients who receive them end up getting their full refund without any further action. For the other 20%, they typically just need to verify some information. It's annoying but usually not a major issue.

FYI you can check the status of your refund using the Where's My Refund tool on IRS.gov or the IRS2Go app. It won't give you detailed info about the review, but at least you'll know if there's any movement.

i been waitin on my refund for 4 months now!!! sent me the same letter twice!!! its all a scam to keep our money, wake up sheeple!!! 🤬🤬🤬

Honestly the best thing I learned after years of dealing with IRS issues is to adjust your W-4 so you don't get big refunds. I'd rather get my money throughout the year than let the government hold it interest-free and then make me jump through hoops to get it back.

When you think about it, CP05 notices are actually good for honest taxpayers. They're catching a ton of fraudulent returns and identity theft with these reviews. Yeah it sucks to wait, but at least your info isnt being used by someone else to claim a refund.

Alot of people in my tax group on Facebook are saying these reviews are being triggered by the new 1099-K reporting requirements that started this year. Anyone claiming gig work or online selling income is getting extra scrutiny.

I had the exact same issue (CP05 notice) and it was driving me absolutely insane trying to decode what was going on from reading forums. I finally used taxr.ai which explained exactly what was happening, when I could expect movement, and what the most likely outcome would be based on my specific transcript codes. Takes like 2 minutes to get clarity instead of spending hours trying to piece together snippets from forums. Literally night and day difference.

One thing to keep in mind: if the IRS finds any issues during review, they'll send a specific notice telling you what they need or what adjustments they're making. Don't panic if they adjust your refund slightly - often it's just a math correction that doesn't impact you much.

I went through this exact same situation last year with a CP05 notice. The waiting is absolutely the worst part, especially when you're counting on that money. I know everyone says "don't call before 60 days" but I actually did call around day 45 and surprisingly got through to someone who was able to tell me my review was almost complete. Sometimes it's worth a shot if you're really stressed about it. One thing that helped me was setting up text alerts through the IRS2Go app so I'd get notified the second there was any update on my refund status. At least then I wasn't obsessively checking the website every day. The good news is that in my case, they released my full refund on day 52 with no issues found. Hang in there - the vast majority of these reviews end up being routine verifications that don't affect your refund amount.

I'm dealing with a CP05 notice right now too, and the anxiety is real! Filed in early March and got the notice last week. What's been driving me crazy is not knowing WHY they're reviewing it - like you, everything seemed straightforward on my return. I've been reading that these reviews have become much more common lately, especially for returns with education credits (which I also claimed). The waiting game is brutal when you're counting on that money for expenses. One small tip that's helped my peace of mind: I screenshot my "Where's My Refund" status every few days so I can actually see if anything changes, rather than just relying on memory. The status hasn't updated yet, but at least I feel like I'm doing something! Keep us posted on how it goes - hoping we both get good news before the full 60 days are up! 🤞