IRS Code 507 on Transcript - What does it mean? Need help understanding

Tax professional here - Code 507 indicates that your return is being reviewed for income verification. This usually means the IRS is comparing the income you reported with information they received from employers (W-2s, 1099s). Average resolution time is 60-120 days. Best to wait it out unless you get a specific notice requesting additional documentation.

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in the same boat rn. got 507 two weeks ago still nothing changed smh

Mine had 507 for like 3 months but finally got my refund last week! hang in there

These codes are getting ridiculus fr fr... irs playing games with our money 🤡

Check if you claimed EIC or child tax credit. Those usually trigger 507 codes for verification. Also peep your wage and income transcript to make sure everything matches up with what you filed.

Code 507 is definitely income verification review. Had the same thing happen to me last year - took about 10 weeks but got my full refund plus interest. The IRS is just making sure your W-2s and 1099s match what you reported. Don't stress too much, just be patient and avoid calling unless you get a CP notice asking for documents. Most of these resolve automatically once their systems finish cross-checking everything.