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Anastasia Sokolov

IRS 2023 Transcript Updated With Code 570 (Action Pending) and $3,995 EIC - What Does This Mean For My Refund?

After months of seeing nothing but zeros on my transcript, it finally updated today! I just got my transcript for my 2023 tax return and I'm looking at all these codes and numbers but have no idea what any of it means. Here's what's showing on my Account Transcript: FORM NUMBER: 1040 TAX PERIOD Dec. 31. 2023 TAXPAYER IDENTIFICATION NUMBER: XXX-XX-662 ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT ACCOUNT BALANCE: -42 ACCRUED INTEREST AS OF: Dec. 10. 2024 ACCRUED PENALTY AS OF: Dec. 10. 2024 INFORMATION FROM THE RETURN OR AS ADJUSTED: EXEMPTIONS: 02 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: 15,614.00 TAXABLE INCOME: 0.00 TAX PER RETURN: 0.00 SE TAXABLE INCOME TAXPAYER: 0.00 SE TAXABLE INCOME SPOUSE: 0.00 TOTAL SELF EMPLOYMENT TAX: 0.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER): Aug. 26. 2024 PROCESSING DATE: Dec. 09. 2024 TRANSACTIONS: CODE EXPLANATION OF TRANSACTION | CYCLE DATE | AMOUNT 150 Tax return filed | 20244705 12-09-2024 | $0.00 29221-237-54200-4 806 W-2 or 1099 withholding | 04-15-2024 | 766 Credit to your account | 04-15-2024 | -$ 570 Additional account action pending | 12-09-2024 | $0.00 768 Earned income credit | 04-15-2024 | -$4,095.00 I see that my return was just processed on Dec 9th, 2024 and there's a code 570 "Additional account action pending" which concerns me. Does this mean there's a problem with my return? I filed as Head of Household with an AGI of $15,614. I also see an Earned Income Credit of $4,095.00 and my account balance shows -42. Does the negative number mean I'm getting a refund? When should I expect to receive it with that "action pending" code? Can someone help me understand what I'm looking at and if this means I'll get my refund soon? The suspense is killing me after waiting for so long!

Tax pro here. Those transcript codes can be pretty confusing if you're not familiar with them. Each code represents a different action taken on your return. Without seeing the specific codes, I can't tell you exactly what's happening, but movement is usually a good sign.

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thanks! yeah its been frustrating just seeing zeros forever. at least something is happening now 🙏

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You should check out taxr.ai - it's this new tool that analyzes your transcript and tells you exactly what's going on and when to expect your refund. Saved me hours of googling random codes. It's like $1 but totally worth it https://taxr.ai

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for real? does it actually work? been stuck trying to figure out these codes forever

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Yeah its legit! It breaks everything down and even predicts your refund date. Way better than guessing or waiting on hold with IRS for hours

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just tried it and OMG thank you! 🙌 Finally understand whats happening with my return!

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Same boat! Mine updated last week after 4 months of zeros. Hang in there!

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Post the codes ur seeing and we can try to help figure it out

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tbh there's like 10 different codes and dates, not even sure which ones matter 😅

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movement is better than no movement! atleast the irs finally remembers you exist lol

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fr fr the IRS be playing hide and seek with our money 🤡

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Mine went from zeros to actual numbers then back to zeros again... The IRS is straight trolling us at this point 😤

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NeonNova

bruh same. this tax season is wild

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Looking at your transcript, the code 570 "Additional account action pending" typically means the IRS needs to do additional review or verification before releasing your refund. It's not necessarily a problem - could be routine verification of your EIC claim since you're getting $4,095. The negative account balance (-42) does mean you have a credit/refund coming. The processing just happened on 12/9, so you're still early in the process. Code 570 usually gets resolved within 2-4 weeks, then you'd see a code 571 when it's released. Keep checking your transcript for updates!

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This is super helpful! So the 570 code isn't necessarily bad news? I was freaking out thinking something was wrong with my return. The 2-4 week timeline actually makes sense since it just processed. Thanks for breaking down what the negative balance means too - I wasn't sure if that was good or bad! 🙏

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