IRS Transcript Shows 570/971 Codes on April 24 - Refund Delay After January Filing with Earned Income Credit

I filed at the beginning of January and got my transcripts updated. I'm looking at my transcript and it shows ADJUSTED GROSS INCOME, TAXABLE INCOME, TAX PER RETURN, SE TAXABLE INCOME TAXPAYER, SE TAXABLE INCOME SPOUSE, and TOTAL SELF EMPLOYMENT sections at the top. My RETURN DUE DATE/RETURN RECEIVED DATE (WHICHEVER IS LATER) shows as Apr. 15, 2023, and my PROCESSING DATE shows as Apr 24, 2023. The IRS website shows the following TRANSACTIONS: CODE | EXPLANATION OF TRANSACTION | DATE -----|---------------------------|-------- 766 | Credit to your account | 1-15-2023 768 | Earned income credit | 04-15-2023 971 | Notice issued | 04-24-2023 570 | Additional account action pending | 04-24-2023 But I'm really worried about these last two codes that just appeared - code 570 (Additional account action pending) and 971 (Notice issued) both dated 04-24-2023. The transcript says "This Product Contains Sensitive Taxpayer Data" at the bottom. Anyone know what this means for my refund timeline? Will this delay everything? I was expecting my refund based on the credits showing up but now I'm concerned about these new codes that appeared on the same date. Does this mean my return is under review or something?

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Marina Hendrix

The transcript shows several key dates and codes affecting your refund status. You have two positive credits: code 766 (general tax credit) posted on January 15, 2023, and code 768 (Earned Income Credit) posted on April 15, 2023. However, on April 24, 2023, two significant codes appeared - a 570 code indicating your return is under additional review and a 971 code showing the IRS has issued a notice explaining the review. Your processing date of April 24, 2023 aligns with these hold codes, while your return was received by the standard filing deadline of April 15, 2023. This sequence typically indicates the IRS needs to verify information related to your credits, particularly the EIC which has strict qualification requirements. The notice (971 code) should arrive within 2-3 weeks explaining what additional documentation or verification they need. Until the 570 hold is resolved, your refund will be delayed. The best course of action is to wait for the IRS notice and respond promptly with any requested information. This is a common occurrence with returns claiming EIC, and while it does cause delays, it doesn't necessarily indicate any problems with your return.

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