Your return is deemed "accepted" as soon as the IRS receives and processes it. ... An acceptance from the IRS or an approval of a refund does not mean that your return will not be selected for audit. It is not uncommon for the IRS to audit tax returns going back three years or longer.
In most cases, a Notice of Audit and Examination Scheduled will be issued. This notice is to inform you that you are being audited by the IRS, and will contain details about the particular items on your return that need review. It will also mention the records you are required to produce for review.
When you receive confirmation that the IRS accepted your return, it means that they have reviewed your return, and it has passed their initial inspection. They verify your personal information and other basic items, like if your dependents have already been claimed by someone else.
No. Once your return shows "accepted" the status can not change to "rejected". Please use the below information to check your refund status: How do I check my e-file status?
If my refund on the IRS website says still processing does it mean I will be audited? There's absolutely no reason to necessarily think that you're under review or that an audit is pending, so please don't worry. The "processing" message you see is perfectly normal.
Your tax returns can be audited even after you've been issued a refund. ... The IRS can audit returns for up to three prior tax years and, in some cases, go back even further. If an audit results in increased tax liability, you may also be subject to penalties and interest.
It means they're still working on it. If you make a return to, say, Amazon, and you check the status of your refund, it may say “still being processed” for a few days until the refund paperwork is completed.
Not yet. Accepted means your tax return is now in the government's hands and has passed the initial inspection (your verification info is correct, dependents haven't already been claimed by someone else, etc.).
If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.
It is taking the IRS more than 21 days to issue refunds for some 2020 tax returns that require review including incorrect Recovery Rebate Credit amounts, or that used 2019 income to figure the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC).
Once your return has been “Accepted” its status will remain the same until it has been “Approved.” This would mean it has been processed and that the IRS has approved the release of your refund.
The major steps in the refund approval process are the following: You submit the refund with an e-postmark, and the application is sent to the government. You wait for the IRS to accept the return. ... If everything looks good, the refund approval is done by the IRS.
If the IRS has found you "guilty" during a tax audit, this means that you owe additional funds on top of what has already been paid as part of your previous tax return. At this point, you have the option to appeal the conclusion if you so choose.
You cannot go to jail for making a mistake or filing your tax return incorrectly. However, if your taxes are wrong by design and you intentionally leave off items that should be included, the IRS can look at that action as fraudulent, and a criminal suit can be instituted against you.
After acceptance, the next step is for the government to review your refund. During the review process, they look for math errors on your return (extremely rare in TurboTax) and check if you owe back taxes, unpaid child support, or other debts. If they need to make any corrections, they may offset (reduce) your refund.
That has completed a required process.
What is Tax Topic 152? Topic 152 is a generic reference code that some taxpayers may see when accessing the IRS refund status tool. ... Keep in mind this tax topic doesn't mean you made a mistake or did anything wrong when filing. It simply means your return is being processed and has yet to be approved or rejected.
How long can IRS legally hold refund? There is no statutory limit. However, after 45 days from the filing deadline they must pay interest on the refund, and after six months you can sue them in the Court of Claims.
Once accepted, it can take anywhere from a few days to 3 weeks (21 days) to go from acceptance to approval, and this timeframe is unrelated to how, where, or when you filed, nor is it connected to how quickly you got your refund last year. If your refund is still processing, it has not been approved.
What's Taking So Long? If you don't receive your refund in 21 days, your tax return might need further review. This may happen if your return was incomplete or incorrect. The IRS may send you instructions through the mail if it needs additional information in order to process your return.
It simply means that your e-filed return is being processed and that the government hasn't approved or rejected it yet. ... Once that part's done, the government approves your refund, which means it's ready to be deposited or sent.
The status of all refunds for US citizens is updated every 24 hours, so if at the moment the status of this is cataloged as 'Received' you will have to wait 24 more hours to consult it again to wait for it to have been approved .