Irs code 971 may be on your account to indicate an amended tax return, balance transferred to a duplicate account, bankruptcy notice, collection due, collection due with a notice of intent to. Amended returns (1040x) normally take about 4 months to process, but because of covid delays, this is not a normal year so amended returns can now take 6 months or longer. I monitored the irs processing tax forms month and i see they are now processing amended returns filed in march 2024, whereas i submitted my amended return february 2024. All 3 of my amended returns. Were these for three different tax years?
Amended returns take several months to process. Code 971 on a tax transcript indicates issues or discrepancies with your tax return. It is often accompanied by code 570. This signifies the irs needs additional reviews before processing. Yaron, unfortunately amended returns are taking 6 months to more to finish being processed. It’s a good thing that it has shown on your transcripts, but it’s a long wait. Code 971 is a miscellaneous catchall code. It’s taking us more than 20 weeks (instead of up to 16 weeks) to process amended returns. Do not file a second tax. Code 971, also known as the “notice issued” code, indicates a change in the processing or status of a tax return. The amount shown on the code 971 line reflects the total dollar amount of. Publication 971 refers to when a spouse may be relieved of what is due, including taxes and penalties, in relation to a joint tax return. This relief includes innocent spouse relief, separation. These two transaction codes indicate receipt of your amended return for the tax year in question on august 4, 2020. When the account is adjusted to result in a refund, the transcript will.
The amount shown on the code 971 line reflects the total dollar amount of. Publication 971 refers to when a spouse may be relieved of what is due, including taxes and penalties, in relation to a joint tax return. This relief includes innocent spouse relief, separation. These two transaction codes indicate receipt of your amended return for the tax year in question on august 4, 2020. When the account is adjusted to result in a refund, the transcript will. Refund showing as processed now. If you amended in november you have a long wait. I amended in september and nothing. April people are just starting to get theirs. I just found out. I got a code 971 amended return or claim forwarded for processing does anyone know if this means my return is moving forward ? Anyone have any time line info based on their personal.
If you amended in november you have a long wait. I amended in september and nothing. April people are just starting to get theirs. I just found out. I got a code 971 amended return or claim forwarded for processing does anyone know if this means my return is moving forward ? Anyone have any time line info based on their personal.
