2024 IRS TAX REFUND UPDATES - New refunds approved, ID Verification, transcript Updates, IRS Notices

Описание: In today's IRS tax update, we'll explore the latest developments, focusing on recent updates to tax transcripts and addressing the ongoing challenges faced by some individuals experiencing refund delays due to the 570 code appearing on their tax transcripts. Additionally, we'll recap the next two tax refund dates set by the IRS and delve into the second top reason for delays this year, which involves the need to complete ID verification. We'll also discuss the steps more and more viewers are taking to expedite the ID verification process New refunds approved, ID Verification, transcript Updates, IRS Notices. The most recent tax transcripts have impacted individuals with tax transcript cycle codes ending in 01, 03, and 04. Two specific cases submitted by viewers, both experiencing delays due to the 570 transcript code, highlight the hold on their tax returns requiring further action by the IRS. One viewer, after being stuck with the 570 and 971 codes for over two weeks, finally saw the 571 and 846 codes appear in the latest update. The 571 code lifted the previous tax return hold, represented by the 570 code, and the 971 code indicated a letter sent by the IRS (in this case, a CP 05 notice). Finally, the 846 code confirmed the refund issuance, with a direct deposit date set for March 8th. Despite ongoing delays in receiving ID verification letters from the IRS, some viewers have opted to schedule in-person appointments at their local IRS offices to expedite the verification process. Several viewers who completed the process in person last month received their refunds between two and three weeks after, while others who recently completed the process are awaiting their refunds. It's acknowledged that scheduling in-person appointments may not be feasible for everyone, especially those further away from their local IRS office or unable to take time off based on their schedules. Stay tuned for further updates on these evolving developments in the tax season.


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