We filed our taxes in early February. It was rejected on the 13th due to the AGI being incorrect and we refilled and was accepted by the IRS on the 14th. No update on WMR (which I expected) I was able to view the 2020 transcripts today online and noticed that my refund amount shows credited but right under shows code 570 which shows a processing date of 3-8-2021. Back story we had to paper file our 2019 return and it’s still processing. We also had to claim the second stimulus on our 2020 as well. We did not receive EITC but we did receive ACTC. I have never seen this code but did some research on what it is. My question is the process, could it really take up to 45-60 days dated from 3-8-2021? Could it be a hold because of the ACTC? Any guidance would be great.
thanks
I would expect the IRS will hold the refund until March 8. The IRS can be reached by telephone at 800-829-1040 from 7 am to 7 pm local time.
IRS Code 570 Additional Liability Pending or Credit Hold. This code can be used for many reasons.
You can go to this IRS publication and enter '570' in [control] F. You can 'walk' through the publication and see the various reasons why the code could be used.
This author is well-respected and states:
A Transaction Code 570 can mean different things in different cases so a taxpayer should not try to draw a conclusion based on the presence of a TC 570. The Transaction Code 570 will stop a refund from being issued until the impact of the action being taken on the account and the refund is determined and processed. Transaction Codes are used internally by the IRS to identify a transaction, adjust and research tax accounts and to maintain a history of actions posted to a taxpayer’s account. While they are reflected on transcripts they are not reflected on most public facing documents or tools like Where’s My Refund because they are difficult to interpret and can have different meaning depending on the case and associated codes and files. Again, the best way for taxpayers to check the status of their refund is by going to Where’s My Refund.