2022 IRS TAX REFUND UPDATE - Refunds Approved, Tax Return Status, Amended Returns, Tax Transcripts

Описание: On this IRS Tax Refund Update as we continue to monitor the latest with those ongoing tax refund delays, we finally have received an update from the IRS on where things currently stand with the tax return backlog so we will take a look at that as well as an update for those of you still waiting on Amended Tax Returns. We also have the next scheduled release date for tax refunds so we will recap that as well we have received a recent surge of questions in the past week in regards to several tax transcript codes such as 570, 971, 420, 424, and 810 so we will take a look at those.
Now recapping the latest update from the IRS on where things currently stand with those ongoing process delays as the latest tax return backlog number has dropped to 7.2 million unprocessed paper returns which is down 1 million returns from back on August 26th, Of the current 7.2 million returns remaining unprocessed 1.6 million are e-file returns, and 5.6 million are paper. For those of you waiting on Amended Returns that number saw a drop of 200,000 returns since August 26th to now at 1.7 million unprocessed amended returns now it should be noted that number seems to be a combination of both 2020 and 2021 amended returns. Now moving onto the next batch of tax refunds scheduled for release this week starting with those direct deposit refunds scheduled for release on Wednesday, September 21st as confirmed by the tax transcript seen here and as a reminder to allow up until Monday September 26th to receive it if you are part of this refund batch. For those of you waiting on paper checks the next batch will be issued on Friday, September 23rd and do allow up to 10 business days to receive by mail. The 971 code meanwhile indicates the letter that is being sent out about the refund delay. If you see a 971 and 570 code with the same date it means the IRS has automatically resolved the issue and no further action is necessary and your refund has been cleared for processing. However, if you see a 971 and 570 code with different dates that mean the IRS needs additional time. Also, once the issue is resolved you will see a 571 code appear on your transcripts which is the resolved additional action code.



0:00 Introduction
0:29 Tax Backlog
0:59 Amended Returns
1:28 Tax Refunds
2:16 Tax Transcripts
4:06 Refund Freeze
4:32 Conclusion


Disclaimer: This is for informational purposes only and is subject to change. Material provided should not be considered tax, accounting, or legal advice. Please consult a certified tax consultant for tax advice.


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