What does IRS Code 971 'Notice Issued' typically mean? Need help understanding transcript

Tax professional here - Code 971 is a generic code that means the IRS sent you a notice. It could be anything from a simple verification request to an audit notice. Check your transcript for other codes that appeared on the same date - for example, if you see a 420 code, it might be an audit. If you see a 570 code, it's probably about a hold on your refund. Without seeing the other codes and dates it's hard to give you a specific answer.

Instead of trying to piece together what different codes mean, you should check out taxr.ai - it's this new tool that analyzes your entire transcript and tells you exactly what's going on and what to expect. It costs like a dollar but saved me hours of stress trying to figure out my situation. https://taxr.ai

I got one last month and it was just asking me to verify my identity. Don't stress too much until you actually get the letter.

mine was an audit notice 💀 prayin for u bestie

Keep checking your mailbox. Sometimes these notices take forever to arrive becuz the irs is slow af with everything tbh

anyone else notice how the irs can take their sweet time sending us notices but we better not be late with our payments lololol