so i got this the other day and i'm like what? i understand the first two but whats tax credit claims? social security benefits withholdings and household help claim and schedule c income claims? i never claim any of that
The CP05 notice means that the IRS is holding your refund until they review and verify the following information from your return:
Your reported income
Tax withholding amounts
Tax credits claims
Social Security benefits withholdings
Household help claims
Schedule C income claims
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The Tax credits claims they put on the list can include any of the following: dependents, dependent care, additional child tax credit, earned an income tax credit. If you have any of these on your returns, that is what they can be reviewing. They will also be able to tell you an estimated time they should be finished and when they might release any refund coming to you.
If you are unsure, please call the IRS and have them explain to you what they are reviewing your return for and why. The good news is that generally, most taxpayers who have this one year do not have to deal with this again.
Unfortunately, this is totally random and there is nothing you could have done to prevent it.
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