I filed my taxes in February in hopes of getting my return to take care of overdue bills. No such luck. At the end of April I went online to find I needed to verify my identity. Ok. No problem, done. In June I get a letter stating that the irs needs an additional 60 days to process my refund, but note nothing is wrong. I called the entire month of august to see what was going on and finally got an actual person around 8/30/24. At which time I was told that they can hold it up to 120 days bc they froze my account after the I’d verification and it probably wouldn’t be until October 4 bc I was also picked for review. What does that mean, not audit, a review?
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The IRS reviews some federal tax returns to determine if income, expenses, and credits are reported accurately.
I've been doing taxes for 15 years and this is not uncommon for IRS to do a review. But I would recommend a few things - if you are filing as self employed I would make sure you have your records in order - the other suggestion would be to get a notarized letter from a tax professional stating any changes on this tax return that are different from last year and send it to your IRS local office.
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