Being processed by the IRS is a term that many taxpayers come across when they file their taxes. It refers to the stage in which the IRS is reviewing and verifying the information provided on the tax return. Understanding what being processed means can help alleviate any confusion or concerns taxpayers may have when they encounter this status.
When a tax return is filed, it goes through a series of steps before a final determination is made. The first step is typically the “Received” status, indicating that the IRS has received the return. After this, the return moves into the processing stage, where the IRS reviews the information provided.
During the processing stage, the IRS checks for mathematical errors, verifies the taxpayer’s identity, and compares the information reported on the return with the data received from employers, financial institutions, and other third parties. This is done to ensure accuracy and detect any discrepancies or potential fraud.
Once the return has been processed, the IRS will either issue a refund or send a notice explaining any adjustments or additional information required. In some cases, the return may be selected for further review, leading to a longer processing time.
Here are 8 FAQs and answers about being processed by the IRS in 2022:
1. How long does it take for the IRS to process a tax return?
The IRS aims to process most returns within 21 days. However, this timeframe can vary depending on the complexity of the return, the accuracy of the information provided, and other factors.
2. What should I do if my return has been processing for a long time?
If your return has been processing for significantly longer than 21 days, you can check the status of your refund using the “Where’s My Refund?” tool on the IRS website or contact the IRS directly for assistance.
3. Can I continue to use the “Where’s My Refund?” tool while my return is being processed?
Yes, you can use the tool throughout the processing stage to check the status of your refund. It will provide updates as your return moves through the various stages.
4. Will being processed delay my refund?
Being processed does not necessarily delay the refund, as most returns are processed within the standard timeframe. However, if the return requires additional review or if there are errors or discrepancies, it may take longer to receive the refund.
5. What can cause a return to be selected for further review?
Returns can be selected for further review based on a variety of factors, including random selection, potential fraud indicators, or the need for additional documentation or verification.
6. Can I still file an amended return if my original return is being processed?
Yes, you can file an amended return if necessary. However, it is recommended to wait until the original return has been processed and any refund or payment has been received before filing an amendment.
7. Will being processed delay my stimulus payment?
Generally, stimulus payments are separate from tax returns and are processed separately. However, if there are any issues or discrepancies with your tax return that affect your eligibility for a stimulus payment, it may cause a delay.
8. What should I do if I receive a notice from the IRS after my return has been processed?
If you receive a notice from the IRS after your return has been processed, carefully review the notice and follow the instructions provided. The notice will explain any adjustments made to your return or any additional information required.
In conclusion, being processed by the IRS means that your tax return is going through a review and verification process to ensure accuracy and detect any discrepancies or potential fraud. While most returns are processed within 21 days, it is important to stay informed about the status of your return using the “Where’s My Refund?” tool or contacting the IRS directly if needed.