Topic 152 is a generic reference code that some taxpayers may see when accessing the IRS refund status tool. Keep reading as I will provide you with common reasons why there may be a delay in the processing of your tax return. Ive also heard some people have luck when they call later in the day around 6 p.m. or 6:30 p.m. [Eastern] right before the IRS closes at 7 p.m., If it takes a while for you to get your money from the government, there is a silver lining, Samuels says: The law requires the IRS to pay interest on any delayed refund checks.. What's this mean? They are working hard to minimize this impact on affected taxpayers to get their refunds as quickly as possible. Also Check: Is Hazard Insurance Tax Deductible. 2019 Returns Still Being Processed. For example, if the IRS - not eFile.com - rejected your return for an invalid Social Security Number (SSN), you will be given a link that takes you to the Name & Address page where you can review your entry and make any necessary corrections. Dont Miss: How To Report Tax Fraud To The Irs. Your best bet is to call first thing in the morning as soon as the IRS opens at 7 a.m. ET, Samuels says. The IRS notes that it cant issue a refund that involves the Earned Income Tax Credit or the Child Tax Credit before mid-February. File your own taxes From simple to complex taxes, filing is easy with Americas #1 tax prep provider. Figure : Percent Of Total Housing Units In Housing Value Range How Long Do You Need To Live In A House To How Much Foreign Income Is Tax Free In Usa, list of IRS refund reference codes and errors, Processing times and complexity levels Income tax and GST/HST objections, Can You File State Taxes Without Filing Federal, Due to suspicions of identity theft or fraud, Your tax return includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit, Your tax return consists of a Form 8379, Injured Spouse Allocation, which could take up to 14 weeks to process. "Failure to include basic information, such as the Social Security numbers of dependents, can significantly hold up a refund," according to Lee E. Holland, CPA, CFP, and former IRS agent. Be patient if you get this message during early February (January 15 through February 5). 9. Read Also: How Much Foreign Income Is Tax Free In Usa. The IRS can take several days to process your return, which are impacted by backlogs and staffing. This could mean that all of the necessary forms were not sent to the IRS for processing. The ETFs comprising the portfolios charge fees and expenses that will reduce a clients return. On January 23, the Internal Revenue Service (IRS) began receiving and processing tax returns for the 2022 fiscal year. Consult your accountant, tax, or legal advisor regarding such matters. Below, find out how to easily see the status of the tax return you have prepared and e-filed. WebIt just means that the IRS is still processing your tax return. It's a first in, first out process for paper returns. The IRS needs more time to process your tax return. Can you rollover Roth 401k to Roth IRA while still employed? But if you come across a reference to Tax Topic 152, your return may require further review and could take longer than the typical 21 days. Real-Time Round-Ups investments accrue instantly for investment during the next trading window. We and our partners use cookies to Store and/or access information on a device. However, be prepared to stay on the line for a long time before your call is answered. Once this review is complete, then the IRS will begin processing and issuing your tax refund to the bank if the taxpayer selected direct deposit or by issuing and mailing a refund check. tool to verify the status of your return online. WebYour Tax Return is Still Being Processed Deborah Ann After submitting a federal income tax return to the Internal Revenue Service, there is a wait time for the agency to process So it can be disappointing and stressful to see the They found something that didnt add up. What does still being processed mean 2022? Because tax refunds can be delayed for a number of reasons, the IRS cautions taxpayers not to rely on receiving their tax refund within three weeks in order to cover expenses or make an important purchase. If you have funds jointly owned, these funds would be separately insured for up to $250,000 for each joint account owner. Millions of taxpayers have been waiting for refunds for over six months. Subscribers are, however, not required to purchase the products and services Acorns promotes. For a complete list of other depository institutions where funds may be placed, please visit https://www.cambr.com/bank-list. Acorns may receive compensation from business partners in connection with certain promotions in which Acorns refers clients to such partners for the purchase of non-investment consumer products or services. If you need to amend your 2020, 2021 or 2022 Forms 1040 or 1040-SR you can now file Form 1040-X, Amended U.S. In fact, the messages and bars on the IRS. Americans who file paper forms tend to have an average wait of about six months, and these returns often provide thousands of dollars in refunds to low-income workers that can be critical for supplementing their incomes. You should also be able to check on your state refund status at your states revenue department website or by phone. 6. Do you have to claim a refinance on your taxes? The prompt means that the IRS has received your return, but. Congress passed legislation, Web design: a crucial element of bringing your website to perfection. It may also be delayed if your dependents' information doesn't match IRS records, or if you left out a corresponding schedule or form to support a deduction or credit, says Pickering. The IRS has received and processed almost 37 million tax returns already this year. During this time, you can use the Wheres My Refund? The 2023 tax season continues. If you're under 50, you can contribute up to $6,000 from income you earned during tax year 2022 whether or not you file your own return. Also Check: Tax Credits For Electric Vehicles. It is important to understand in this case that your tax return was accepted, but yourtax refund is still processing. tool may show that you have not provided enough information or that your return is still processing. Here are the most common reasons why your tax refund processing are delayed: You can call the IRS using their toll-free line at 1-800-829-1040. This is not the case. This message is basically saying the IRS is processing your return via one of their many systems and that until that is done you cannot do anything. Enjoy! The Internal Revenue Service has essentially been unable to process the paper 1040 returns that individuals filed in 2022 until it's finished processing the pileup of paperwork filed in 2021. If you file a paper return, it could take six to eight weeks. The first round of PATH refund payments, via direct deposit, were scheduled to be sent by February 22nd. And as tax day approaches this year, you might be asking yourself: how long should my refund take? The Internal Revenue Service can help you understand more about tax refund offsets. WebIt just means that the IRS is still processing your tax return. H&R Block is a registered trademark of HRB Innovations, Inc. There are several reasons why your tax return may be delayed: Errors such as an incomplete filing status. 12. 3. Why is my tax return still being processed? A mistake or further review for a variety of reasons. If you have not received your tax refund within this timeline, there may be a reason why theres a delay. It is safer and faster than paper checks, but you can also get your tax refund right away. If its been longer than 21 days since you filed electronically and provided direct-deposit information to the IRS, check on your refund. Funds are generally available on the day the payment file is received, up to 2 days earlier than the scheduled payment date. Everyone wants their refund as soon as possible. Once you file your return on eFile.com, your status will change - if it is Accepted, the IRS has acknowledged and accepted your return. Your return includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit your return will be delayed. However, some variables can slow your refund down. (1) An IRS agent abruptly stops pursuing you after he has been requesting you to pay your IRS tax debt, and now does not return your calls. Now, we have got the complete detailed explanation and answer for everyone, who is interested! The average tax refund in 2022 was almost $3,300, or 16% higher than in 2021. Your Tax Return Is Still Being Processed. You've filed your tax return but haven't received your refund. The time frame could be There are several reasons why your amended return may be in this stage. What is Negligence Per Se? We're open and processing mail, tax returns, payments, refunds and correspondence. First, the amount of Recovery Rebate Credit that you claim can affect the processing time. Youll need to wait about four weeks to receive a notice from the IRS explaining what you need to do to resolve the status. Keep reading as we have gathered exactly the information that you need! Thats the status of your federal tax refund that you can check on the IRS Web site. Calling early or late in the dayand on Tuesdays or Thursdays seems to increase the odds of getting through to someone. Save my name, email, and website in this browser for the next time I comment. The system will display your refund status on the screen. Ill also tell you how you can get your tax return much faster!! Dan is a writer on CNETs How-To team. The IRS did not post my return until March 11th to the IRS system. You may see a message in the Wheres My Refund system asking you to call the IRS, or you may opt to call the You can also use our free. According to the Protecting Americans from Tax Hikes Act, the IRS cannot issue EITC and ACTC refunds before mid-February. If youve filed your tax return online, you can expect to already start seeing the status of your return within twenty-four hours. Acorns may receive compensation from business partners in connection with certain promotions in which Acorns refers clients to such partners for the purchase of non-investment consumer products or services. It is not intended to provide legal advice or opinions of any kind. On January 23, the Internal Revenue Service (IRS) began receiving and processing tax returns for the 2022 fiscal year. He has been covering technology, software, finance, sports and video games since working for @Home Network and Excite in the 1990s. tool asking the taxpayer to call the IRS, Due to suspicions of identity theft or fraud, Your tax return includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit, Your tax return consists of a Form 8379, Injured Spouse Allocation, which could take up to 14 weeks to process, Your return has been flagged for identity theft or fraud. A Refund Date Will Be Provided When Available. If it has been over 21 days since your return was being accepted by the IRS (or 6 weeks if you filed a paper return) and the tax refund status has not changed or WMR has no updated message for delays, you can call the IRS and speak with an agent concerning your tax refund. When the IRS begins to process your return, the status will read being processed. This means that they have everything they need from you, and now it is their turn to do what they need to do with your information before sending you your refund check or deposit. Learn more TurboTax blog IRS Refund Status Your tax return is still being processed. Expect delays. Some people may also receive a formal IRS notice requesting specific information, which often contain a number to call that is different to the general one above. I didn't get a letter from the IRS. Hi Terry Our accountant filed our 2021 federal tax return prior to the April deadline this year. Recommended Reading: Where Is My California Tax Refund. Through Feb. 4, 2022, over 4.3 million people have received their tax refund at an average of $2,201 per person, according to the IRS. After that, you may want to call the IRS to find out whats going on, he says. Tax returns for 2019 are filed in 2020 and may be filed on extension as late as October 15, 2020. A refund date will be provided when available in 2022, Suppose you filed your tax return electronically and, This year, taxpayers claiming certain credits, like the earned income credit or child tax credit, will not see their refunds early. If you want to check your return status online and avoid contacting the IRS, make sure that you have entered the right stimulus check amount. Remember, if you input the wrong SSN, it could cause an IRS Error Code 9001, and might make your return be held for Identity Verification. Acorns Earn provides subscribers access to shop with our partners and earn bonus investments into your Acorns Invest portfolios when purchasing items from the partner brands. Hello Nation! Dont ignore these letters and use the numbers or methods listed on the letter to get your tax return processing moving. This is even after the PATH act restrictions have lifted. For example, this year, theres been a delay in processing paper returns due to efforts to fight fraud and identity theft, which means that taxpayers who file on paper may see longer wait times for their refunds.