What is ‘Tax Topic 152’ and Does it Affect Your Tax Refund?
IRS Code 152; Most people have received IRS code 152 in their transcripts in 2021 or 2022. If you have seen the tax subject number 152 on your record, don’t panic.
If that’s your situation, then relax and continue reading this article.
If you have filed your tax electronically, you will certainly be eligible for tax subject 152.
The IRS process tax returns using the same guideline and procedures. They are codified in tax codes used in multiple internal systems to handle returns, manage mistakes, and ultimately pay refunds.
These codes are simplified to tax topics for individual and business filers to provide insight and share information into what is currently happening with their tax return, why there are processing delays when a refund is paid, or why it was lower than anticipated (offsets ).
There are many codes and topics. However, one of the popular ones you’ll encounter when making a tax report can be Tax Topic 152 (TC 152).
It is typically displayed on the WMR/IRS2Go after your tax return has been accepted at IRS IRS and is undergoing treatment or has been delayed due to some reason.
Tax Topic 152 is a catch-all/informational message about your refund processing timeline and potential delays. No additional steps from the tax filing company are required now.
However, it could also have various consequences after the IRS is done processing and they have established expectations that your refund might be delayed (for various reasons). Number different reasons).
What is Tax Topic No. 152?
When you check the “Where’s My Refund?” The IRS online tool will see Tax Topic 152; it’s a reference code for general use.
Your tax return is processing and is yet to be either approved or rejected. As with other codes, it is not required to take any additional actions and doesn’t mean you committed a mistake or error when filing your tax return.
But , your return might need to be reviewed further and may be delayed by more than the usual processing time.
WHAT DOES IRS CODE 152 MEAN ON A 2021 OR 2022 TRANSCRIPT?
Here’s the meaning for the IRS the tax code for transactions 152 in your transcript:
It is a return that has been updated with information about the entity and is sent in the Entity Transaction Section.
This is what the government has officially stated, provided by the Internal Revenue Service Master File Codes.
WHAT DOES TAX TOPIC 152 MEAN?
The Tax Topic is 152, which indicates the tax returns are being prepared.
It also means that if you can see IRS Tax Code 152 and you are a taxpayer, either the federal government or IRS hasn’t denied or approved the refund.
In the end, IRS code 152 gives refund details.
In some cases, the status of your return may take a long time to be changed.
SHOULD I BE WORRIED ABOUT TAX TOPIC 152?
Not at all. It’s okay to include IRS tax code 152 on your transcript.
If you are unsure, it is best to contact the IRS representative for help on the issue.
Additionally, you can speak with an expert tax advisor for more information.
As we mentioned previously, you don’t have to fret. It’s just a matter of waiting until this system becomes upgraded.
YOUR TAX RETURN IS STILL BEING PROCESSED; A REFUND DATE WILL BE PROVIDED WHEN AVAILABLE, TOPIC 152
This is what a lot of people will find in their tax transcripts.
As you can see in the message, it indicates that IRS is working on your tax returns.
If you are due refunds, The IRS will notify you of the date it will be released when it is made available.
Follow the basics within this tutorial.
WHAT DOES IT MEAN WHEN TAX TOPIC 152 DISAPPEARS?
If you are checking your tax status using Where’s My Refund, there are occasions when the tax topic bars disappear.
If that happens, you don’t have to be worried.
It happens on WMR.
Here’s the reason:
The status of your Where’s My Refund keeps changing throughout processing tax returns.
Sometimes, you’ll get an account date, but it has the words “still processing,” and the IRS 152 notice may disappear.
If this happens, then it’s only the Internal Revenue Service that can provide you with accurate information about your tax situation as well as Tax Code 152.
IS IRS CODE TAX TOPIC 152 A GOOD OR BAD THING?
No. IRS Code 152, as well as tax subject 152, are not negative things.
This IRS tax code only signifies that you are processing your taxes. There’s no reason to worry.
DOES TAX TOPIC 152 MEAN I WILL GET MY REFUND SOON?
Not. Code 152 from the IRS does not guarantee that you’ll get your refund soon.
What it signifies simply is the fact that the refund is currently being processed.
Your tax return could be accepted or rejected following the final review conducted by Internal Revenue Service. Internal Revenue Service.
You don’t have any control over this.
WHY DOES MY REFUND SAY STILL BEING PROCESSED?
Your refund is not yet processed because your Internal Revenue Service is working on it.
It is essential to wait for the process to be completed before you can determine what’s next.
If you have tax-related questions, you must call one of the IRS agents for assistance.
For some, it could be ” your tax return is still being processed.”
You can also talk to any tax professional to help solve any difficulties you might face when filing taxes or seeking an income tax refund.
Tax return received, and it is currently being processed, whereas it was processing.
If your tax return is not processed, and the Internal Revenue Service says it is processed, this is what it means.
The returns you have submitted will be processed.
Why did I get Tax Topic 152?
It’s among the numerous codes that can help you determine the status of your tax return that you have received. Tax Topic 152 is usually accompanied by the following sentence:
“We apologize for the inconvenience, but your refund processing is delayed beyond the normal processing time. Please check here regularly for the most recent details regarding your tax refund.
We recognize that the tax refund you receive is crucial, and we’re working to process your tax refund as fast as we can.”
Delays can occur due to various causes, such as:
- Amended return. Your return could delay if you filed an amended form or claims for refunds that need to obtain an identification number for each taxpayer (TIN). The more documents you’ve got, the longer it’ll take to have approval for a refund. Amended returns are among the most frequent reason for a reference number to appear. It could take 20 weeks to receive the refund due to an unreturned item.
- Late filing. Quick filers will see their tax returns reviewed before they are approved. If you submit tax returns before the due date, your return could be delayed.
- Form 1042-S of 1042-NR. Requesting a tax refund withheld through Form 1042 or Form 1042-NR could cause significant delays. It can take as much as six months to receive the refund.
- Paper return. A lot of people who file returns on paper face massive delays. Tax returns that are electronically filed typically have an upper spot in the filing.
- Injured spouse. If you file a spouse injured claim, it can delay the process. Even if you received an e-file acceptance letter, this is more time-consuming for this claim to be examined.
- Earned Income Tax Credit (EITC). If you’re a beneficiary of the EITC or a similar one, you might also experience an issue. This can happen due to additional review or due to something that is preventing refunds for the issue.
Can you talk to the IRS if you get Topic 152?
Many various tax issues could appear when using the “Where’s My Refund” function. The tool is designed to aid taxpayers in understanding what they can anticipate.
In most situations, you shouldn’t try to get in touch with an IRS representative, at least not during your first 21 days. If you haven’t received your refund for a few months, you can get in touch with an individual.
What happens after Tax Topic 152 processing?
If the Tax Topic changes to 151, it indicates that your tax return is being questioned or subject to further scrutiny.
Audits, although terrifying, are conducted at various levels. For most taxpayers, an audit means that an IRS agent will examine your tax return on their own and issue a letter to you with corrections, discrepancies, or payment requests. Also, you will see tax code 420 or 424 on your tax transcript in this phase.
The only tax topic you should not be privy to since it can seriously delay your tax return and possibly even your refund – can be a considerable delay in your refund.
Tax Topic number 148. This means that the taxpayer is on the IRS security alert for fraud and is subject to an audit followed by an Identity audit or related review of the fraudulent tax return.
It is something that you’ll require assistance from the IRS to solve the issue. They will send you a formal notification that includes details about how to resolve the alert for fraud.
When can I check on my tax refund?
Those who file electronically can go to the IRS “Where’s My Refund?” online tool within 24 hours of the time of the Tax Return for the year 2021.
If you mail your tax return via postal mail, then you will be able to access the online tool four weeks after sending your tax return from 2021 to the IRS.
If you use the tool online, the agency will notify you of the need to get in touch with them regarding the tax return or refund. The IRS will never contact you, nor will they use social media or email to reach you.
You’ll need to allow the IRS a minimum of 21 days to process your return after you have submitted it electronically before contacting them about your refund.
If you submitted the return on paper, you have to give the IRS at least six weeks from the date you sent your return before an IRS representative can investigate.
The IRS warns taxpayers that it’s taking longer than usual to give reimbursements, in some cases, up to 120 days for those who claim the Recovery Rebate Credit, Earned Income Tax Credit, and the Additional Tax Credit for Children. Credit.
The IRS recommends against filing another tax return and waiting until you get the refund before amending your tax return by filing Form 1040-X.
Is this tax code good or bad?
It is important to note that this code isn’t great, but it’s not terrible either. It’s a neutral number. The code indicates that your taxpayer’s tax returns are processed.
It’s not connected to penalties, late payments, or other irregularities; therefore, there is no reason to be concerned when it is displayed in your tax report.
However, tax topic 152 may not mean you’ll get your refund soon. It is simply a sign that your refund is currently being handled.
It is possible to accept or deny after the final review. Therefore it’s not a money-back guarantee.
IRS Code 152 FAQS
How long after tax Topic 152 will I get my refund?
The refunds from amended returns are typically given after sixteen weeks. Be aware that the COVID-19 delays in processing take longer than 20 weeks to finish processing amending returns.
Why does my refund Say tax Topic 152?
This sign that the tax-filer is under the aegis of an IRS security alert for fraud. They are being investigated, followed by an Identity tax return that is a fraudulent review.
The issue will be required to contact the IRS to resolve the issue. They will send you a formal notification with information regarding this fraud alert.
Should I be worried about tax Topic 152?
Tax Topics 152 is an alarm that informs you that your refund for tax could be delayed because of various common causes.
It could be because you filed your tax return in error, filed an amended tax return, or filed for the Earned Income Tax Credit.
There is nothing to be concerned about, and it doesn’t need you to take any further actions.
What happens if I get tax Topic 152?
Topic 152 for Tax Topic 152 is an IRS reference code that taxpayers might see when they check whether they have received their refunds using the IRS”Where’s My Tax Refund? Tool.
While Topic 152 doesn’t require the taxpayer to perform extra steps, the return you file may need further scrutiny and may take longer than the usual time.
Is Topic 152 good?
Topic 152 2021 for Tax Topic 1522 2021 is an excellent option as it tries to show the taxpayer who has submitted a claim for a refund that the claim has been accepted as well as that the money will be distributed to the person who applied for the refund via direct deposit, a check, or by letter in the earliest time possible.
Does tax Topic 152 mean direct deposit?
Tax Topics 152 is generic information about payouts typically displayed if you have selected to deposit your money. The message you receive indicates that you’re being processed.
What does it mean when tax Topic 152 disappears in 2022?
It simply indicates the fact that it means that the IRS is currently taking care of your tax refund.
If you are eligible for the refund you were expecting, you’ll receive a time when it will be released when it becomes available. It is not necessary to fret because the process is relatively simple.
What is Section 152 of the Internal Revenue code?
Section 152(c)(1) defines”a “qualifying child” of a taxpayer as an individual who (A) has a specific connection to the taxpayer and (B) shares the same principal residence home in the same household as the taxpayer during more than one half the tax year, (C) meets specific criteria for age as well as (D) is not able to provide more than one-half of his income …
What day of the week does IRS deposit refunds?
Monday through Monday through Friday
IRS Refund Schedule for Direct Deposits and Check Refunds
They can now issue refunds on every working day from Monday to Friday (except holiday days). Because of the changes to their IRS auditory system, the IRS does not issue a complete schedule as it did in prior years.
What time of day does the IRS send direct deposits?
Does the IRS directly deposit money all day long or only in the AM or PM? They typically send the money to your account between midnight, 12 am, and 1 am.
However, that doesn’t mean it will immediately go into your account at the bank. Your bank may take up to five days to deposit it; however, generally, it will take several hours.
The Tax Topic of 152 shouldn’t be a topic to be concerned about since it’s just a sign that the tax return you filed will take longer than anticipated.
There are a variety of reasons this happens, but it does not mean that you’re doing something wrong. In most cases, it will correct itself without your taking any action.
My self Anjali Thakor, And I am a part-time blogger writing is my passion. I am writing articles on this blog about tech, finance, and many more where people can get updated information about daily life hacks, updated about technology, and many more. If you have any questions you can contact me.