I filed my taxes early, It was accepted by IRS around 2/12/21, I paid about $1100 in unemployment tax and I have yet to see any changes to my irs transcripts. On 7/26/21 I seen a code (290) additional tax assessed and 0.00 ? Confused as to why I haven’t received unemployment refund as of yet. I only grossed about 18k and that is including 11k from unemployment.
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Hello @Mosleyc33! The tax code 290, “Additional Tax Assessed” usually appears on your transcript if you have no additional tax assessment. When you get the 290 code on your transcript, you may either have an amount next to it, or $0.00 will appear there. A normal 2021 IRS tax transcript for someone eligible for stimulus checks will look something like the following:
Code Explanation Cycle Date Amount 290 Additional Tax Assessed 20201403 02-24-2020 A$0.00
(dates shown might be different if you actually got a check or a prepaid card instead of direct deposit)
Please not that the date might be somewhat different in a real situation, especially if you got a prepaid card or a check either than a direct deposit. Here is what you need to know about the sample IRS tax transcript with the transaction code 290:
The meaning of code 290 on the transcript is "Additional Tax Assessed".
The 20201403 on the transcript is the Cycle.
From the cycle 2020 is the year under review or tax filing.
The number 14 is the IRS Cycle Week.
Finally, the number 03 is the Process Day of the week.
IRS code 290 with $0.00 basically means a freeze or hold has been lifted.
I did file head of household and claimed 1 dependent, so since I have not yet received refund should I file an amendment. ( I did receive EITC and CTC)?
The only reason an amendment to your return should be filed is if there was an error in your original return. Otherwise, it's a waiting game with the IRS. Here is a good link on that topic: https://blog.turbotax.intuit.com/tax-planning-2/how-do-i-know-if-i-should-amend-my-tax-return-14541/
What if there's an actual amount instead of 0.00 next to code 290
As indicated above, Transaction Code (TC) 290 indicates that “Additional tax as a result of an adjustment to a module which contains a TC 150 transaction.”
A TC 150 return module refers to a filed return, so the additional tax resulted from an adjustment to your return.
However, because the explanations are so vague, you won’t be able to know what the assessment was for until the IRS sends an explanation.
Please see the IRS's Master File Codes for potentially relevant information.
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