


Ask the community...
Colorado changed their verification system. Huge backlog now. Everyone's waiting longer. My return from January 15th just finished. Yours should be soon. State budget issues causing staffing problems too. Just wait it out.
I think there might be some confusion about how the Credit Karma Money accounts work with tax refunds. From what I understand, they *might* process a bit differently than traditional banks, especially if you paid your TurboTax fees upfront rather than having them deducted from your refund. It seems like the upfront payment method sometimes follows a different processing path, although I'm not entirely sure why that would be the case.
I had this exact situation last year, so let me walk you through what happened with me: 1. Filed with TurboTax and selected Credit Karma card 2. Got a DDD of 2/18/23 3. No deposit on that date 4. Called Credit Karma on day 3 - they confirmed they could see it pending 5. Money appeared on day 4 at around 3am The Credit Karma rep explained that they process tax refunds in batches, and while they receive the funds from the IRS on the DDD, they have an internal verification process that takes 2-4 business days. It's frustrating but completely normal. I appreciate everyone sharing their experiences here - it definitely helps reduce the anxiety of waiting!
I'm so stressed about this too! Did anyone have to take time off work for their appointment? I'm scheduled for next Wednesday and I'm worried about losing hours. Was it a quick process or did you have to wait a long time at the office? ๐ฐ
According to the IRS website (https://www.irs.gov/identity-theft-fraud-scams/identity-verification), you might be able to call the IRS Identity Verification phone line at 800-830-5084 instead of going in person. When I had to verify, I called first and they were able to handle everything over the phone. Saved me the trip. Might be worth trying before your appointment.
Actually, while legislation could theoretically change, we have to plan based on current tax law. According to IRC ยง24(h)(2), the Child Tax Credit amount is clearly established for 2024 at $2,000 per qualifying child with partial refundability. The Treasury Department has issued no guidance suggesting changes are imminent, and most tax professionals are advising clients to plan using these established figures. Waiting for potential legislation that may never materialize could result in poor tax planning and unexpected liabilities at year-end.
Exactly this! I got burned last year waiting for possible extensions of the expanded credit. Ended up having to make a much larger Q4 estimated payment than I had budgeted for. Better to plan conservatively now and be pleasantly surprised later if anything changes.
Do you think there's any chance of retroactive changes if they do pass something later in the year? I remember during COVID they made several retroactive tax changes.
I just went through this whole process with my accountant for my 2023 return (filed in 2024) and discovered some key terminology that helped me understand this better. The "nonrefundable" portion versus the "refundable" portion (Additional Child Tax Credit) makes a huge difference depending on your tax liability. As a small business S-Corp owner, I was surprised to learn that my W-2 income from my S-Corp versus distribution income affected my ability to claim the refundable portion. My accountant had to explain Form 8812 three times before I fully understood how it worked with my business income!
Zainab Ahmed
Have u checked your account transcript instead of return transcript? Sometimes acct transcript updates first and shows pending refund info before the return transcript becomes available. Also, did u try checking at diff times? Some ppl see updates around 3-4am on Thurs for cycle 05.
0 coins
Connor Gallagher
The IRS is required under Internal Revenue Manual 21.4.1.3 to process returns within 21 days, but identity verification extends this timeline significantly. I was in your exact situation last year - filed 2/3, verification notice 2/20, notice disappeared 3/5, reappeared 3/15. My transcript finally updated on 3/23 and refund deposited 3/27. You need to act quickly though - if they don't hear back on verification within 30 days, they can freeze your refund under procedure 6490.1 until you respond to a formal 5071C letter.
0 coins