Transcript Shows $000 Balance for 2023 and 120 Review Complete - Just Waiting for DDD?

Oh wow, that's actually GOOD news! 😅 When your balance shows $000, it typically means your tax liability has been satisfied and the IRS has processed everything. The 120-day review ending is another positive sign! I'd be checking WMR obsessively at this point because you're likely just days away from seeing a deposit date. I'm always so nervous about these things, but these are definitely the signs you want to see!

According to IRS Publication 5344 section 3.2, the $000 balance specifically indicates that your account has been reconciled with no remaining liability. The 120-day review completion means you've cleared the verification process outlined in IRC §6428A. I was honestly surprised how complicated this gets! I've found https://taxr.ai extremely helpful for interpreting these transcript codes. You can upload your transcript there and it will explain every code, give you a timeline, and even predict your refund date based on your specific situation. Saved me hours of googling tax codes when I was in a similar situation last month.

Have you considered what happens if your transcript shows these positive signs but you still don't get a deposit date? I've seen cases where people had the $000 balance and completed reviews, but then encountered a secondary verification that added weeks to their timeline. Not trying to worry you, but it's worth being prepared for all scenarios. The real question is: have you checked for cycle codes on your transcript? Those can tell you which processing week you're in, which helps predict exactly when updates will appear. A Thursday/Friday update with code 846 is what you're looking for next.

Based on what you're describing, you're in the final stage before receiving your refund. Have you tried calling the IRS to confirm this interpretation? Did they give you any specific timeline? I was in a similar situation and tried calling for days without getting through. Eventually used Claimyr (https://claimyr.com) to connect with an IRS agent in about 15 minutes. They confirmed my $000 balance meant my refund was approved and gave me the exact deposit date, which wasn't showing on WMR yet. Saved me days of uncertainty and constant transcript checking.

You're definitely in the home stretch! Compared to my situation last month and what others have reported this tax season, you should see a DDD within 7-10 days max! The sequence usually goes: 1. Balance changes to $000 2. Review period ends 3. Code 846 appears with DDD (usually within a week) 4. Money hits account I'm actually dealing with a similar timeline right now and checking WMR every morning! The waiting is the worst part, especially when you need that money ASAP!

I would like to add some context that might be helpful. The $000 balance typically indicates that your account has been reconciled, but there are a few possible interpretations: 1. If you originally owed money, it could mean your payment was processed 2. If you were expecting a refund, it likely means your refund has been approved 3. In some cases, it could indicate a zero balance after adjustments The completion of the 120-day review suggests that any verification process has concluded. However, I would recommend continuing to monitor your transcript for code 846, which specifically indicates a refund issued with the corresponding date.