When Will I Get My $31,283 Refund with 570/971 Codes on Transcript? Processing Date April 24, Notice Issued May 1

I just checked my transcript and wanted to understand what's happening. My transcript shows code 150 for $6,677.00 on April 24, 2023, which is my tax return being filed. Then I see a 570 code (Additional account action pending) on the same day for $0.00, followed by a 971 code (Notice issued) dated May 02, 2023 for $0.00. My current account balance shows -31,283.00 (as of May 02, 2023), with $0.00 in accrued interest and $0.00 in accrued penalties. The ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount) shows -$31,283.00. The return was due April 15, 2023, and the processing date shows as April 24, 2023. I filed as Single with 01 exemption. The transcript shows my filing information: INFORMATION FROM THE RETURN OR AS ADJUSTED ** EXEMPTIONS: 01 FILING STATUS: Single ADJUSTED GROSS INCOME: [blank] TAXABLE INCOME: [blank] TAX PER RETURN: [blank] 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) Apr. 15, 2023 PROCESSING DATE Apr. 24, 2023 TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT 150 Tax return filed 04-24-2023 $6,677.00 806 W-2 or 1099 withholding 04-15-2023 [amount missing] 766 Credit to your account 04-15-2023 [amount missing] 570 Additional account action pending 04-24-2023 $0.00 971 Notice issued 05-02-2023 $0.00 This Product Contains Sensitive Taxpayer Data Should I be hopeful about getting my refund soon or just keep waiting? I'm confused about the 570 and 971 codes appearing on my transcript. Does this mean my refund is delayed? Will I still get the full -$31,283.00 shown as my account balance? Any help would be appreciated!

0 coins

15 comments

Sarah Jones

•10M

The transcript shows your return was processed on April 24, 2023 (code 150) with a tax liability of $5,677.00. You currently have a negative account balance of $30,283.00, which represents the refund amount you're potentially due. The combination of your W-2/1099 withholdings (code 806) and additional credits (code 766) from April 15 exceed your tax liability, resulting in this refund amount. There are two important status indicators: a 570 code dated April 24 indicating a temporary hold on your account, and a 971 code dated May 1 showing that the IRS is sending you a notice to explain the hold. These codes appearing together typically means the IRS needs to verify something or make adjustments to your return. Your transcript confirms you filed as Single with one exemption, and shows no self-employment income or related taxes ($0.00). The return was processed after the standard due date of April 15, 2023, and there are currently no penalties or interest accruing on your account. While the large negative balance indicates a significant refund is likely coming, you'll need to wait for the notice explaining the hold before knowing when to expect the payment.

0 coins

Malik Thompson

•3M

Looking at your transcript, the 570/971 combo is pretty standard when the IRS needs to verify credits - especially with that large refund amount. The good news is your account shows no penalties or interest accruing, which means they're not questioning the legitimacy of your return, just doing their due diligence. Based on the timing (971 notice issued May 2nd), you should receive that letter within 7-10 business days explaining exactly what they need. Once you provide any requested documentation or they complete their internal review, the 570 hold gets released and your refund processes. With credits like EIC and CTC, these reviews are routine but can take 6-12 weeks total. Keep checking your transcript weekly for updates - you'll see the 570 disappear first, then hopefully a 846 code with your direct deposit date. Hang in there! 🤞

0 coins