What does IRS Code 720 mean on my transcript? Anyone else have this?

Code 720 indicates the IRS has received your return and is processing it. This is a normal processing code that means your return is in the initial stages of review. Nothing to worry about at this stage.

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I had 720 for like 2 months b4 anything happened. irs is slow af this year 🤮

mines been stuck on 720 since february... anyone else? starting to get worried

Just means its processing. Welcome to the waiting game lol

Pro tip: Download your transcript and upload it to taxr.ai - it'll tell you exactly whats happening and when to expect movement. Way better than playing detective with these codes

Code 720 is actually pretty standard - it just means your return is in the system and being processed. I've seen this code on my transcripts for the past few years. The timing really varies though - sometimes it moves quickly, other times it sits there for weeks. Don't stress too much about it, but definitely keep checking your transcript weekly for updates. The IRS has been pretty backed up lately so patience is key!

I've been dealing with transcript codes for years and 720 is definitely one of the more common ones you'll see. It basically means your return made it into their system and they're working on it. The frustrating part is that this code can stick around for anywhere from a few days to several weeks depending on how complex your return is and what their current workload looks like. I'd suggest checking your transcript every Friday since they typically update over the weekend. If you don't see any movement after 4-6 weeks, that might be worth a phone call to make sure nothing's stuck.

I had code 720 show up on mine last month and it took about 3 weeks before I saw any other activity. From what I understand, it's just the IRS saying "we got your return and it's in the queue." The waiting is definitely the hardest part! I found it helpful to set a reminder to check once a week rather than obsessively checking daily (which I was definitely doing at first 😅). Hang in there - it should start moving soon!

I've had code 720 appear on my transcript multiple times over the years, and while it can be nerve-wracking to see, it's actually a good sign! It means the IRS has successfully received your return and it's entered their processing system. The timeline can vary quite a bit - I've seen it clear in as little as 10 days, but also had it sit there for over a month during busy seasons. One thing I learned is that complex returns (like those with multiple forms, business income, or certain credits) tend to take longer at this stage. If you filed electronically and have direct deposit set up, you're already ahead of the game. Just keep monitoring your transcript weekly and try not to stress too much - this is just the first step in what's usually a pretty routine process!

Code 720 is totally normal! I see this one all the time - it just means your return has been received and is sitting in their processing queue. Think of it like a "we got it, now we're working on it" status. The timing really depends on a bunch of factors like how busy they are, if there are any issues with your return, or if you claimed certain credits that require additional review. I usually tell people to expect anywhere from 2-6 weeks to see movement, but this year seems slower than usual. Just keep checking your transcript once a week (Friday evenings are when they typically update) and try not to stress about it too much. Your refund is coming!

Code 720 is definitely a normal part of the process! I've been through this a few times and it basically means your return is officially in their system and they've started looking at it. The wait time can be pretty unpredictable though - I've had it move in 2 weeks before, but last year it took almost 6 weeks during peak season. One thing that helped me was keeping a simple log of when codes changed on my transcript so I could track the pattern. Also worth noting that if you have any credits like EITC or Child Tax Credit, those can add extra review time even with a straightforward return. Hang tight and check back weekly - you should see some movement soon!

I had the exact same code show up on my transcript about 3 weeks ago and just wanted to share my experience! Like others have mentioned, 720 is definitely normal - it just means they've got your return and it's working through their system. Mine actually updated last Friday with a 846 code (refund issued), so there's definitely light at the end of the tunnel! The waiting is absolutely brutal though, I was checking mine way too often at first. What helped me was setting a calendar reminder to check only on Fridays since that's when most updates happen. Also noticed that simple returns like mine (just W-2 and standard deduction) seem to move faster than more complex ones. Hang in there - you should see some movement soon! 🤞

I had code 720 on my transcript for about 4 weeks earlier this year and it was definitely nerve-wracking! From my experience, it's just their way of saying "we received your return and it's in the processing pipeline." The timeline really varies - mine took longer than expected but that was during peak filing season when they were swamped. I found it helpful to check the IRS "Where's My Refund" tool alongside the transcript since sometimes that updates first. Also, if you haven't already, make sure all your banking info is correct for direct deposit since that can speed things up once they're ready to issue the refund. The waiting game is tough but try not to read too much into it - 720 is actually one of the more straightforward codes!