Code 570 Holding My $5,579 Refund: Single Filer with $11,043 AGI and EIC on 2024 Transcript

Can someone help me understand my transcript? I'm looking at my 2024 tax return transcript and I'm confused about what I'm seeing. I received my Account Transcript from the Internal Revenue Service (United States Department of the Treasury). It states "This Product Contains Sensitive Taxpayer Data" at the top and bottom of page 1 of 2. According to the transcript, my ACCOUNT BALANCE shows -$5,579.00 as of Feb. 10, 2025. There's $0.00 in ACCRUED INTEREST and $0.00 in ACCRUED PENALTY as of Feb. 10, 2025. The ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount) is -$5,579.00. Under "INFORMATION FROM THE RETURN OR AS ADJUSTED" it shows: EXEMPTIONS: 02 FILING STATUS: Single ADJUSTED GROSS INCOME: 11,043.00 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 My RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) is Apr. 15, 2025 PROCESSING DATE is Feb. 24, 2025 In the TRANSACTIONS section, I see these codes: CODE EXPLANATION OF TRANSACTION - CYCLE - DATE - AMOUNT 150 Tax return filed - 20250603 - 02-24-2025 - $0.00 76221-415-04408-5 806 W-2 or 1099 withholding - 04-15-2025 - -$549.00 766 Credit to your account - 04-15-2025 - -$1,281.00 570 Additional account action pending - 02-24-2025 - $0.00 768 Earned income credit - 04-15-2025 - -$3,749.00 I know the minus signs signify credit amounts, but I'm not sure if I'm actually getting this refund or if there's some kind of hold because of that 570 code. I see the total credits add up to my account balance (-$549.00 withholding, -$1,281.00 credit to account, and -$3,749.00 earned income credit), but what does "Additional account action pending" mean? Has anyone dealt with this code 570 before? Will this delay my refund? The processing date shows as Feb. 24, 2025, but I'm not sure if I'm supposed to wait until then to receive my refund or if there's something else going on. I'm really trying to understand what this "additional account action pending" means for my refund.

0 coins

14 comments

Chloe Harris

Your tax transcript shows a total expected refund of $5,579.00, composed of three main credits: $549.00 in W-2/1099 withholding (code 806), $1,281.00 in additional credits (code 766), and $3,749.00 in Earned Income Credit (code 768). The negative signs in front of these amounts indicate credits in your favor. The code 570 (Additional account action pending) appearing on February 24, 2025, typically indicates a temporary hold while the IRS reviews your return. This is a common occurrence during tax season and doesn't necessarily indicate a problem. Your return was processed on February 24, 2025, well ahead of the April 15, 2025 due date. Your financial details show $11,043.00 in adjusted gross income with $0.00 taxable income, filed as Single with 2 exemptions. There are currently no penalties or interest accruing on your account as of February 10, 2025. The transaction codes are listed chronologically: - Code 150: Initial tax return filing - Code 806: Withholding credits - Code 766: Additional credits - Code 570: Review hold - Code 768: Earned Income Credit While your refund is being held temporarily, all indicators suggest this is routine processing. The IRS typically resolves these holds within a few weeks of the processing date.

0 coins

- 1M