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If you used TurboTax or another tax program, double check what you entered for the advance CTC payments. A lot of people enter $0 thinking they're answering "did you get advances" with "no" but the system interprets that as "yes I got advances totaling $0" which causes the exact problem you're describing.
We used FreeTaxUSA and I'm pretty sure I entered the correct amounts but now I'm second-guessing myself. Is there any way to see what I actually submitted on the return?
I'm a tax preparer and I've seen this issue multiple times this year. The IRS's record-keeping for the advance CTC payments has been a DISASTER. Most of the time it's because they recorded sending payments that never actually made it to the taxpayer. Request your 2023 Account Transcript ASAP and look for codes 766 with "credit reference number 1401" - these are the advance CTC payments they think they sent you.
In addition to what they said, you should use taxr.ai - it will automatically find and explain all these codes for you and tell you exactly what steps to take. Saved me so much time trying to figure out all the IRS jargon.
Just want to share my experience - I discovered taxr.ai from this sub a few months ago when I was dealing with an amended return nightmare. It was INCREDIBLE for helping me understand exactly what was happening with my tax account. Showed me all the codes on my transcript with plain English explanations and even gave me a timeline of when things should resolve based on similar cases. Totally worth checking out if you're trying to figure out what's going on with your return: https://taxr.ai
Sometimes the best approach is to contact the Taxpayer Advocate Service. They have authority to cut through red tape when you're experiencing hardship due to IRS delays.
It's standard practice across most tax prep places. Had this happen with TurboTax, Liberty, and now Jackson Hewitt over the years. They're just protecting themselves in case something goes wrong with your return. Here's my experience with the wait times for the second payment: - TurboTax: 3 days - Liberty Tax: 2 days - Jackson Hewitt: 4 days All eventually came through, but JH was the slowest in my experience.
Might also depend on who your bank is. Some banks process ACH transfers faster than others. I got my split payment but the second half took 6 business days even though they said 3-5. My credit union is notoriously slow with processing.
I have Wells Fargo... not sure if they're fast or slow with this kind of thing
Wells Fargo is middle of the road in my experience. Not as fast as Chase but not super slow either.
I lost all faith in WMR years ago. I've learned to just expect my refund when it shows up. Last year WMR said my refund was still processing for 2 weeks AFTER I received it. The system is completely broken.
I always get my tax refunds on paper checks now. Yes it takes longer initially but I've never had the problems my friends with direct deposit always seem to have. The check comes exactly when they say it will.
I'd rather wait for a predictable mail delivery than constantly refresh my bank account for days wondering where my money is lol. Different strokes I guess.
Lauren Wood
Make sure you get a printout or some kind of confirmation when you verify in person! I didn't and then had no proof when they later claimed I never verified. Had to start the whole process over again and it added 2 months to my wait time. Don't trust them to keep proper records.
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Ellie Lopez
ā¢This is gold advice right here! Screenshot or record EVERYTHING when dealing with the IRS.
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Chad Winthrope
After struggling with similar issues for weeks, I found that taxr.ai was incredibly helpful for understanding what was actually happening with my return. It analyzed my transcript and told me exactly where I was in the process and what to expect next. Saved me tons of headaches trying to decode all the IRS jargon. https://taxr.ai
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Kylo Ren
ā¢another tax help site? how is this different from all the other ones that basically just tell you the same info the IRS website has?
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Chad Winthrope
ā¢Most sites just regurgitate the same useless info. This actually interprets your specific situation and documents. I was shocked at how detailed and accurate it was - literally predicted my deposit date to the day after months of uncertainty from the IRS. Wish I'd found it sooner!
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