IRS Transcript Shows $8,965 Withholding Refund Still Pending with Codes 570/971 Despite $0 Balance - Amended Return Processed

My tax transcript is really confusing me. Looking at my 2024 account transcript for my 1040, I'm seeing several codes and dates that I don't understand. I received my Internal Revenue Service account transcript from the United States Department of the Treasury, and it contains information that's making me uncertain about my refund status. The transcript shows I'm filing as Single with an Adjusted gross income of $7,762.00 and Taxable income of $0.00. My Tax per return is listed as $1,836.00. It shows SE taxable income of $7,713.00 with a Total self employment tax of $1,180.00. My Return due date or return received date is listed as 04-15-2024, with a Processing date of 04-29-2024. Here are the transactions that are confusing me: TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT No tax return filed 766 Credit to your account 04-15-2024 768 Earned income credit 04-15-2024 426.00 570 Additional account action pending 04-29-2024 $0.00 971 Notice issued 05-06-2024 $0.00 CP 0005 971 Amended tax return or claim 07-19-2024 $0.00 forwarded for processing 764 Earned income credit 04-15-2024 -$169.00 806 W-2 or 1099 withholding 04-15-2024 -$8,965.00 291 Reduced or removed prior tax 11-04-2024 -$656.00 assessed There's a code 570 (Additional account action pending) from 04-29-2024 and a 971 (Notice issued) from 05-06-2024, followed by another 971 in July for an amended return, and then a 291 code in November that reduced my assessment by $656.00. My transcript shows EIC credits (code 768 for $426.00 and code 764 for -$169.00) and withholding (code 806 for -$8,965.00) from April 15. The weird thing is my account balance shows $0.00 (as of 11-04-2024), with no accrued interest or penalties, but I'm still waiting on my refund. The transcript literally says "Account balance: $0.00 As of 11-04-2024" and "Accrued penalty: $0.00." My return was processed on 04-29-2024, and I even got a CP 0005 notice. I also see reference numbers at the bottom: 09254-684-05479-4 and 80211-450-33284-4. Can anyone help me understand what's happening with all these transactions and when I might get my refund? The transcript says "This Product Contains Sensitive Taxpayer Data" but I'm struggling to interpret what it all means for my refund status.

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Harper Collins

Your tax transcript shows several key details about your 2024 return. You filed as Single with an Adjusted Gross Income of $7,762.00, of which $7,713.00 is self-employment income generating a self-employment tax of $1,180.00. Your withholdings total $8,965.00 (code 806), and you qualified for Earned Income Credit with some adjustments (code 768 for $426.00 and code 764 reducing it by $169.00). The timeline of events is significant: - April 15, 2024: Return received with credits and withholdings posted - April 29, 2024: A hold was placed on your account (code 570) - May 6, 2024: IRS issued a CP05 notice (code 971) requesting verification - July 19, 2024: Another 971 code indicates an amended return is being processed - November 4, 2024: A $656.00 reduction in tax assessment (code 291) Your current account balance is $0.00 with no penalties or interest, but the refund is still pending because the initial hold (570) hasn't been released. The CP05 notice typically means the IRS is verifying income, withholding, or credits claimed on your return. The presence of an amended return in process may be further delaying the resolution.

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- 1M