What is reference number 1242 for the irs. There are numerous reasons the IRS may review your return including but not limited to credit claims such as Earned Income Credit or the Education Credits. What is reference number 1242 for the irs

June 6, 2019 7:31 AM 0 Reply Bookmark Icon mbynoe New Member IRS Reference Code 1242 – Electronic return received more than 3 weeks ago; –E Freeze; in review, notice for additional information will be received IRM 21. IRS notices come on official IRS letterhead and follow a standard format. 5. 1121 - Problem identified; P-Freeze (We've discovered that this is typically a typo on the return) 1141 - Refund delayed liability on another account ( this means you owe a government entity money) 1161 - Refund delayed, bankruptcy on account. We have a question about your tax return. " 6 3 If you submitted all necessary proof and documentation, then I would expect the new processing time to be no more than 21 days, the same as if you submitted a new return. We'll guide you step-by-step. when i check the status of my refund it says my return is in process and to allow 12 weeks. 5. June 6, 2019 6:41 AM. Reference number 1242 simply refers to the dependency exemption. What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that the IRS put a freeze on your account. What is reference 1242 mean? What does it mean when it says to use reference number 1242 when u call. Tax Topic 151 and reference number 1242 suggest your return is being audited by the IRS. This typically occurs when they are waiting for additional. Your return will remain frozen in the IRS system until the review process is complete. 4. Take action 151tax topic 1242 code Suggested Solutions (10) What's this? vhie Level 9 (Master) 1915 Answers, 20 Friends, 163 Followers "Have to wait and you can generally expect the irs to issue your refund. In addition, they could potentially make changes which you can accept or contest the changes per the IRS letter. . This answer is:What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that the IRS put a freeze on your account. The review means that your return is pending because IRS is verifying information on your tax return. What does IRS reference number 1301 mean? Wiki User. Take Action!! 151 Tax topic Ref 1242. 4. 5. In this video what is Topic 152. What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that. If everything went well and all proofs sent, you should have your refund within 21 days. 2, Return/Refund Located. What is reference 1242 mean? What does it mean when it says to use reference number 1242 when u call. The notice is probably a CP75: Round-Syrup-2658 • 2 yr. Your account and any refund related processing will have been frozen (transcript code 810) until further review. This typically occurs when they are waiting for additional information from you. ∙ 2008-08-07 21:08:07. I filed on 1/12 and still waiting mine has the reference 1242 also it can be an offset if not proof of dependents or your just plain under review does it say take action on wmr and when did you file and does it say it's being reviewed. The code number 1242 means there has beed a shorter delay. What does tax Topic 151 and reference 1242 mean? 1242 – Electronic return received more than 3 weeks ago; –E Freeze; in review, notice for additional information will be received. 2 What is a Freeze Condition? 21. If there are no issues the IRS will release the refund via direct deposit or a refund check. mansfield, ohio homes for rent by owner; Academics. 8, -E Freeze Reference number 1242 simply refers to the dependency exemption. (refund offset). Read your notice carefully. . 6. Please be aware that there are reported 40 minute. 6 -C Freeze 21. 4. What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that the IRS put a freeze on your account. sunset cruise ocean city, nj; pagans mc 2020 arrests; childish gambino cassetteI have the 1242 code send in form 1a and 886 on 4-5-15,a shorter delay. This typically occurs when they are waiting for additional information from you. **Say "Thanks" by clicking the thumb icon in a post. What is IRS. 5. watch your mailbox . WHERES MY STATE REFUND. Wait for further notices from the IRS, if there`s any. 2022 Refund Dates. Wiki User. 8, -E Freeze The 1242 code suggests the return was selected for examination. This typically occurs when they are waiting for additional. Your most authoritative news analysis show, News File is live with Samson Lardy Anyenini. 4. Ask Your Question Fast!. “Where’s My Refund?” can be checked within 24 hours after the IRS has received an e-filed return or four weeks after receipt of a mailed paper return. 1. To find out what the reference number of 1242 for topic 151, you will need to contact the Internal Revenue Service. I filed my return in July, I got in touch with the IRS to check on my return and verified my identity in August. See TurboTaxDavidD' answer below for reference. 4. The session cookies used on this site are not used to associate users of the IRS site with an actual person. 2. Wait for further notices from the IRS, if there`s any. 5. Irs mean check addres ok and how you fet return. 1. Best Answer. Community Experts online right now. it means that you most likely are applying for a sole-proprietorship and have at one point in the past already received an EIN or TAX ID number. If everything went well and all proofs sent, you should have your refund within 21 days. 1. 1. Anyone else received this update? Usually means an offset usually either child support or back taxes. This message means your return is under review for an unknown reason. In the next 30 days, you need to gather all your tax documents. Irs accepted taxes on 2/3 by efile; when checking on refund status on irs website, no info available; refund when? My refund status on the irs website said yesterday to expect my refund by feb 7th. 6. 4. What do reference number 1242 mean on a tax refund status?1102 - No data, taxpayer filed electronic return more than 3 weeks ago. Wiki User. Should receive a letter from the. Please mention the reference number 1242 to the IRS Customer Service Representative. 4. 6. Full Service for personal taxes Full Service for business taxes. You will get a letter in the mail explaining what all this is, but if your don`t want to wait for the letter you can give the IRS a call. What is Topic 151 and what is IRS reference code 1242. We need to notify you of delays in processing your return. This typically occurs when they are waiting for additional. In most instances, an IRS CP05 Notice is issued in which the IRS notifies the taxpayer in wri. Normally the WMR reference number 1242 means your return is possibly going to be audited, but it's a very targeted audit. They should send you a letter. WOW today is 6-17-15,no refund,have call them 3 times,the tell u somthing different every time. 1242 – Electronic return received more than 3 weeks ago; –E Freeze; in review, notice for additional information will be received IRM 21. The IRS reference number means that they are source codes when people get certain errors after filing tax returns. Code 1242 simply means that your return was e-filed 3 weeks ago and your refund is frozen while the IRS asks for more information such as a birth certificate for a dependent, etc. ) Solution: You can apply again online after 24 hours. when reviewing the account transcrips it shows i have a freeze. Wiki User ∙ 2014-06-04 22:34:04 Code 1262 means that an electronic tax return was received over three weeks ago but that it is being held for review. 1541 is an an internal code that the IRS uses to identify returns that have been "Delayed". 1 Program Scope and Objectives 21. 1. Study guides. Why, when i update a contact number on my iphone and delete their old number, all our old messages stay with that number and not the updated contact? Hi, were i can find the srn or service reference number in statement of account of my pldt my dsl? thanks? Reference number 1242 tax topic 151to irsReference Code Number 1121 and 1242 – Return Under review. The reference code 1091: 1091 IRS full/partial offset, direct deposit more than 1 week ago IRM 21. to 7 p. Take Action!! 151 Tax topic Ref 1242. . What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that the IRS put a freeze on your account. Irs reference code 1242 mean . In most instances, an IRS CP05. To clear this issue, contact them at: IRS Tax Help Line for Individuals (800) 829-1040. Enhance, Encourage, Equip, MAXIMIZE Your PotentialEIN Reference Number 114 (Maximum EINs Per Day) If you see Reference number 114, it means that the Responsible Party has already been granted an EIN for that day. Spoke to rep and said i have to wait for letter in the mail. You should then put a reference number. We changed your return. An IRS report this year found that 72% of Americans would be interested in using a free, electronic tax filing service if it were provided by the agency as an alternative to private online filing. Reference number 1242 simply refers to the dependency exemption. withholdings portion of refund, missing EITC portion). 5. Tax Topic 151 means your return is under review. The IRS reference number 110 mean that you had already initially applied and you received an EIN or TAX ID number. m. Refer to IRM 21. Assuming that everything goes as planned, the IRS hopes to issue nine out of ten refunds to taxpayers in less than 21 days after the IRS receives the return. This may reference specific line items on your tax return as well as W-2s, 1099s, or other documents the IRS received from third parties. 4. 4. 2 Purpose: This IRM provides instructions to all Customer Service Representatives and Taxpayer Assistance Center functions who address various Refund Inquiries and procedures to be followed when responding to refund inquiries from taxpayers in performance of their daily duties. Www irs gov what is the reference number 1242 mean. June 5, 2019 2:58 PM. Investors should know that backup withholding is a tax that is levied on investment income. The IRS sends notices and letters for the following reasons: You have a balance due. New Member. Tax Topic 151 & 152 ⋆ RefundTalk. This typically occurs when they are waiting for additional information from you. Receiving a notification that your tax return is being held for review. The Social Security Number, Filing Status, and refund amount claimed on your return. Tax Topic 151 means that you're getting a tax offset (less of or no refund), which is where the Department of Treasury will be taking your refund to pay for something that has been reported that you owe. Reference 1242 means your refund is frozen and the IRS needs more information from you. I have no idea when you will receive the notice from the IRS. Wiki User ∙ 2014-06-04 22:34:04 . " 6 0 The 1242 code suggests your return was selected for examination. Type the word "Invoice" in a bold font at the top of the sheet. refundtalk. If everything went well and all proofs sent, you should have your refund within 21 days. Personal experience: I got DDD of 23rd but roommate code 1242. KatrinaLO. They should send you a letter explaining. Thank you. What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that the IRS put a freeze on your account. This will consist of the IRS conducting a thorough investigation of all elements of your tax return. This typically occurs when they are waiting for additional. 5. TAX REFUND CALCULATOR. Hello. WMR Tax Topic 151. What is reference number 1242 mean with the IRS? With the IRS, the reference number 1242 means that the IRS put a freeze on your account. 4. If the IRS requires additional information they will send you a notice in the mail in response to the refund claim. 6. Accountant's Assistant: Which tax year is the. When everything is compiled and complete, sign and date. If your income is received unevenly during the year, you may be able to avoid or lower the penalty by annualizing your income and making unequal payments. 5. In many cases, no action is required on your part and you'll be issued your refund in the usual way. Pay the amount you owe by the due date on the notice. ago thanks [deleted] • 2 yr. What is IRS reference number 1242? IRS uses code 1242 to indicate that your return was received electrocially, has been selected for review and will be frozen until the review process is complete. 1242 irs reference number. 4. ∙ 2009. Hey I was reading up on what you had wrote and I got the same letter. m.