What does cycle 570 mean. My transcript updated last night. I just wondering if I need to be worried.

[xmasbaby0]

Use the IRS refund site for information about your refund.

First, check your e-file status to see if your return was accepted: 

https://turbotax.intuit.com/tax-tools/efile-status-lookup/

Once your federal return has been accepted by the IRS, only the IRS has any control.  TurboTax does not receive any updates from the IRS. Your ONLY source of information about your refund now is the IRS.

You need your filing status, your Social Security number and the exact amount  (line 35a of your 2023 Form 1040) of your federal refund to track your Federal refund:   

https://www.irs.gov/refunds

To track your state refund:    

https://ttlc.intuit.com/questions/1899433-how-do-i-track-my-state-refund

https://ttlc.intuit.com/questions/1901548-why-do-some-refunds-take-longer-than-others

If you chose to have your TurboTax fees deducted from your federal refund, that will take some extra time, while the third party bank handles the refund processing.

https://ttlc.intuit.com/questions/2580357-who-provides-the-refund-processing-service

https://www.irs.gov/refunds/tax-season-refund-frequently-asked-questions

https://ttlc.intuit.com/questions/2840013-does-accepted-mean-my-refund-is-approved

https://ttlc.intuit.com/questions/2724106-my-return-is-accepted-but-still-not-approved-is-there-a-pr...

If you are getting earned income credit on line 27 or additional child tax credit on line 28 You are subject to the delay required by the PATH act.  Do not expect your refund earlier than late February.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/federal-refunds...

https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-the-path-act-and-how-may-it-impact-your-...

[JulieS]

Yes, cycle 570 means your refund has been held, or delayed, by the IRS for an unspecified reason and an unspecified period of time. 

This code is very common for early filers. Sometimes the IRS will ask you to verify your identity, or take another action, and sometimes, they will just release the hold. 

No one can get you a guaranteed date that you will get your refund. Xmasbaby is right, you should use the Where's my refund tool? to check on your status. If you do that, they will let you know if you need to do something. 

[BillandAli]

I have the same thing and we were accepted on 1/29 and we're to receive our refund on 2/19. I finally downloaded my transcripts and found that code. This morning called the IRS and my husband's old employer is being audited. So they can hold OUR refund up to 45 days. I don't understand why but also don't know who to ask for help

[xmasbaby0]

@BillandAli Only the IRS is in control.   Sorry----the IRS can delay your refund for a variety of reasons.   TurboTax gets no information from the IRS after you file your tax return, and TT cannot speed them up for you.   Sadly, you will have to be patient and wait for the IRS to finish processing your return.   If the IRS wants any additional information from you, they will ask for it in a letter.   Open all of your mail even if it looks like junk mail.

[Dazednconfused87]

What does the date next to tax code 570 mean? Says 03/11/24

[Jellimomma223]

Following! Mine is the same!

[latinoma]

I also have a 570 code with date 3/11/24.  I have a pretty simple return with a standard deduction and all 1099R forms ( uploaded) and one W2.  I did file on 3/2/24. So because I file early I get looked at- wow!

[xmasbaby0]

"  I did file on 3/2/24. "    Do you mean you filed in January or February------because March 2 is in the future.  Today is February 26.   Filing too early can actually cause you to go under more scrutiny.   The IRS has become more vigilant about preventing identity theft and tax fraud.  If you filed as soon as possible that might be why you are under review and why your refund is delayed.

[latinoma]

my bad- typo-2/2/24 is when I filed.

[Zeppys mom]

I have the 570 on my transcript with no amount and a date of 2-26-24 behind it. But then it says 971 letter issued with a date of 3-4-24. What does that all mean? No changes from last years taxes

[Tracebouch]

I have had a 570 for 2 weeks. I received a letter that they are verifying my income, but the IRS website states I have no notices that were sent to me! My wmr still says a delay in processing! Unbelievable! Random dates on my transcript. I filed and was accepted on Feb 1

[ptb127]

Following.. mine says the same! 

[Sbattle2013]

Mines says the same thing i glad im not alone but what do i do the letter says they dont need anything

[Mlawson101317]

I have the same 570 code. I called today and the rep took a look at my account while I was on the phone and stated accounts are chosen at random. I have the date 3/11/24 date as well. I have uploaded all of my information correctly with 1099R included. Plus I had my taxes completed by HR Block. This is ridiculous because I can't find an answer on what the date means.