47 and yes 2. Irs code 1242 mean. IRS Reference Number 1242 is a code the IRS uses to pull your tax return for review. 🏛️. Receivables Assistance. The IRS rep stated if there was a serious issue, you would receive a rejection or a specific code stating the action. The IRS assigns reference codes, for example, for the status of refund problems. . Ask for FREE. 1241 – Paper return received more than 6 weeks ago; in review, notice for additional information will be received. entity. IRS Reference Code 1242 is a code the IRS uses to notify the taxpayer that the tax return has been frozen and selected for further review. Ask for FREE. Locate the State the disaster occurred. What does IRS Reference Code 1242 mean? IRS uses code 1242 to indicate that your return was received electronically, has been selected for review,. 📣 Request Answer. Please mention reference number 1242 to the IRS Customer Service Representative. but the IRS is sending s letter asking for more info. I/B ; Carrier Transaction . Also the. Pay the amount you owe by the due date on the notice. As you can see, the 1121 code simply means there is a problem. Causes for Delays in Refunds from the IRS Taxpayer owes back taxes, either individual or business (refund offset). 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. You won't be getting your money anytime soon and. IRS Reference Code 1241 In most instances, when you check the status of your return on the “Where’s My Refund?” portal, you will receive a message stating that your return is being processed or that your refund is on its way. What does Accepted mean? - TurboTax Support Video. vip - Site Stats With the IRS, the reference number 1242 means that the IRS put a freeze on your account. Having the reference status code of 1121 means that the IRS will going to contact you and possibly it would be via telephone, Email, or just a simple mail. 1261 - Paper return received more than 6 weeks ago; –Q Freeze; in review, notice for additional information will be received. 4. at least 1 number, 1 uppercase and 1 lowercase letter; not based on your username or email. It doesn’t mean that you can’t get an EIN online though (like other reference numbers). Want this question answered? Be notified when an answer is posted. In this article What Is IRS Reference. Reference number 1242. This typically occurs when they are waiting for additional. Community Experts online right now. With the IRS, the reference number 1242 means that the IRS put a freeze on your account. Want this question answered? Be notified when an answer is posted. This might include: If the IRS takes your tax refund to satisfy one of these debts, it will send you a Tax Topic 151 letter to explain why. What does reference number 9001 mean on the irs web site? Reference 9001 on a tax return. File Your Taxes for Free. This typically occurs when they are waiting for additional. 1. " The IRS stressed that this does not mean that taxpayers are being automatically audited (as was the. Best topic for evs seminar a valuable topic? I am studying in fyjc commerce i have to complete my evs project but i am. Adresa: Patrijarha Dimitrija 36 (kod manastira Rakovica), Rakovica 11000 Beograd. Tax Topic 151 means the Department of Treasury will be taking your refund or part of your refund to pay for something that has been reported that you owe. IRS reference number 1242 is a generic code provided by the IRS to indicate that there is an issue with a taxpayer’s return. March 4, 2023; total cereal substitute; Posted by; deniece williams husband brad westering. 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. When you make a tax payment, whether it is through a check, money order, or electronic means, it usually takes the IRS a few weeks to process the payment and apply it to your account. 2, Return/Refund Located. The Internal Revenue Service (IRS) is responsible for administering and enforcing the tax laws of the United States. What does this mean in plain language? IRS uses code 1242 to indicate that your return was received electrocially, has been selected for review and will be frozen. While code 1201 means there is a huge delay. This filing requirement doesn't automatically mean your return is accepted and processed, however. 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. If everything went well and all proofs sent, you should have your refund within 21 days. The reference code 1091: 1091 IRS full/partial offset, direct deposit more than 1 week ago IRM 21. While code 1201 means there is a huge delay. Iv called over and over and no where did anyone ask for a. Tax topic 152 with reference number 9001 what does this mean for 2014 tax filing?. Community Experts online right now. The IRS does not allow a Third Party Designee to have the same contact information as the LLC, specifically an address (either physical or mailing) and a phone. 1. The TC 007 does not post to Master File. The IRS routinely reviews tax returns for fraud. Hello. ∙ 2012-09-14 02:13:25. Study guides. Having the reference status code of 1121 means that the IRS will going to contact you and possibly it would be via telephone, Email, or just a simple mail. i am getting a code 1121 on my wheres my refund when it already had the deposit date for refund to be sent. Your tax return is held until you can validate the information requested by the IRS. The code 1242 means, you need to supply IRS some more additional information such as a birth certificate showing for your child, etc. 0 1. you will receive correspondence about your return in 10 days,?Community Experts online right now. "Everything was delivered in a timely manner, very nice professional products and pamphlets, with checks and cards. Please be aware that there are. I listed the definitions below you can also visit the IRS Website toWhat does refund status is tax topic 152 with a reference number 9001 mean. 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. I haven't seen anyone say they've gotten a notice yet after seeing. Dial 7 wait a second, then 1 wait a few more seconds and then 1. Irs reference code 1242 mean . This year I got that saying 151 & the reference number 1242 what does. WMR Tax Topic 151. This happens when there are back taxes owed. long story short we are fucked , it means we are under review, last two years in a row i had to submit so much info from school bus stop info to doctor records, receipts etc proving my child is. 2. Reference Number 1242 is an internal code used by the IRS to identify and track specific tax-related issues, inquiries, and actions. The IRS will send you a report and/or letter that will explain the. What Is IRS Reference Code1242? 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. I prepared my taxes through FreeTaxUSA, one of IRS's free tax file partners. Community Experts online right now. With the IRS, the reference number 1242 means that the IRS put a freeze on your account. There may be something in your tax return for which the IRS needs additional documentation or they may have a different calculation. This typically occurs when they are waiting for additional. I have this same info showing (tax topic 151, reference 1242), and received a partial deposit of my refund. Call the IRS at this number: 800-829-0582 (IRS phone support) Press 1 for English, then enter extension 652. Don't send original. Reference number 104 means that a Third Party Designee (a person or company who assists in obtaining an EIN), has entered conflicting contact information. In this article, we will explore how much interest the IRS charges for payment plans and provide answers to frequently asked questions related to this topic. 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 Short Version. The IRS reference number means that they are source codes when people get certain errors after filing tax returns. Free Military tax filing discount. This typically occurs when they are waiting for additional. The partial refund may only be the withholding you claimed on the return. please mention reference number 9001 to the; Irs refund status code says take action reference 1121? what does 1121 mean? Reference number 1121 ext number 362This message means your return is under review for an unknown reason. " That reference number 1241 seems to mean "Paper return received more than 6 weeks ago; -E Freeze; in review, notice for additional information will. 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. only to come back and say wait for a letter 30 days from 04/08. 1242 irs reference number. Copy. There is a delay due to an offset usually money owed for something. This typically occurs when they are waiting for additional. Community Experts online right now. Irs topic 151 reference number 1242. Without knowing more about your tax return, it is hard to guess what the issue may be. What does the IRS reference number 1081 mean? Wiki User. Ask for FREE. This is due to the reason that there is something wrong or missing with the filed IRS tax return that should be verify and clarify to continue and proceed with the processing with the said Tax Return. Solution: For this kind of problem, the best solution is to contact the IRS. When the IRS opts to take a closer look at your tax return, that can only increase your anxiety level. If the zip code is located under the -O freeze the CSR refer to IRM 21. It is simply an identification code used by the IRS to manage and track various tax-related documents or transactions. 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. moonweasel • 2 yr. This typically occurs when they are waiting for additional information from you. Once of the more worrying or concerning IRS transactions are potential audit codes related to Tax Codes 424 (TC 424) and 420 (TC 420). What does IRS Reference Code 1581 mean? This code means that a portion of your refund has been taken due to the Treasury Offset Program. The partial refund may only be the withholding you claimed on the return (TC806). Reference code 1091 refers to topic 203: Topic 203 - Refund Offsets: For Unpaid Child Support, and Certain Federal, State and Unemployment Compensation Debts The Department of Treasury`s Financial Management Service (FMS), which issues IRS tax refunds, has been authorized by Congress to conduct the Treasury Offset Program. Section 1341 allows taxpayers to take a deduction to reflect a change in income from a. Level 10 (Genius) 2323 Answers,. The Social Security Number, Filing Status, and refund amount claimed on your return. Call: 1-800-829-0582, when asked for an extension, enter 362. You will get a letter from the IRS. 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 irsIrs tax topic 151 reference number 1242. Reference Number 1121, referenced in your account transcript or WMR/IRS2Go app, generally means that your tax return is under further review by the IRS. Ask for FREE. Study now. Code 971 on your TranscriptCommunity Experts online right now. Reference number 1581. Ask Your Question Fast!Hello, my name is ** I can assist you. Tax refund calculator Tax bracket calculator W-4 withholding calculator Self-employed expense estimator More calculators Latest tax law changes. The IRS has various codes when tax returns are flagged, and one of those is code 1262. Self-employed tax center. The IRS routinely reviews tax returns for fraud. Reference Number 1121, referenced in your account transcript or WMR/IRS2Go app, generally. This typically occurs when they are waiting for additional. 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. Normally the WMR reference number 1242 means your return is possibly going to be audited, but it's a very targeted audit. Ask Your Question Fast!What that means is that the IRS system has identified something out of the ordinary, and hence your tax return is being queued for a review. m. The IRS will be sending you a letter about this, generally asking for proof of income or deductions. Has anyone gotten paid that has received these same two?EIN Reference Number 109 (technical): Reference number 109 means that there are technical issues with the EIN Online Application. 1102 - No data, taxpayer filed electronic return more than 3 weeks ago. 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. Community Experts online right now. They may contact you before processing your return. 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. 3. I got the same thing exactly. Please mention reference number 1242 to the IRS Customer Service Representative. One of these, tax topic 151, concerns your rights to appeal when the IRS withholds all or some of your tax refund. 007 . Ask for FREE. The code number 1242 means there has beed a shorter delay. TurboTax Live en español. m. IRS Hours of Service: Monday through Friday, from 7 a. This is due to the reason that there is something wrong or missing with the filed IRS tax return that should be verify and clarify to continue and proceed with the processing with the said Tax Return. Want this question answered? Be notified when an answer is posted. 6. In most instances, an IRS CP05 Notice is issued in which the IRS notifies the taxpayer in wri. A copy of your tax return. The IRS requires you to file and pay taxes on all of the money you earn during the year. What does tax topic 151 mean? Reference 1242? I have no dependents and claimed sick and family leave August 13, 2022 9:03 AM. Wiki User. 8, -E Freeze What does IRS Reference Code 1242 mean? What does it mean when it says to use reference number 1242 when u call. "I think your customer service is the greatest. The notice informs taxpayers of the amount of the debt and the options available to them for resolving the debt and the status of their refund. The most common reasons for a tax equalization are unpaid taxes, unpaid child support payments, and settlements for delinquent federal student loans. You will get a letter from the IRS. a refund date will be provided when available? What does this mean. What does it mean when my refund status say we have received your return. The accompanying. now it states it is processing and if no errors then i would get re The IRS reference number means that they are source codes when people get certain errors after filing tax returns. . Want this question answered? Be notified when an answer is posted. Did some research and that means FREEZE received return more than 3 weeks ago and now need additional info which is proof of dependent EIC credit. What does irs reference number 9001 mean? What does income tax reference 9001 mean? Tax topic 151 reference 1242. marzo 18, 2023. The IRS reference number means that they are source codes when people get certain errors after filing tax returns. Tax Topic 151 isn't a Transaction Code. a refund date will be provided when available? What does this mean. To find out what the reference number of 1242 for topic 151, you will need to contact the Internal Revenue Service. . In most instances, an IRS CP05 Notice is issued in which the IRS notifies the taxpayer in writing that their return is on hold and under review.