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You have filed your tax return happily awaiting your federal refund to come. On the prescribed day, instead of a refund, you get a letter. These letters,CP5 and 4464C states in brief that the IRS is holding your refund until they do a more thorough review of your return. What does this mean, you ask. The letter goes on to state that they are focusing on the following items of interest on your return:
1. Income: Your wages and /or 1099 Misc income.
2. Federal taxes withheld from your pay and forms 1099.
3. Tax credits that you claimed on your return, such as the Earned Income Credit (EIC).
4. Business income reported on the return, such as from a Schedule C, Profit or Loss Form.
In addition, you are advised the IRS reserves the right to contact other parties, such as your employer whose wages appear on the W2 attached to your return, in order to verify the information on your return. You may be asked to submit documentation to substantiate one or more of the items listed above. The worse part is that your refund can be held up to 45 days in the interim. You wonder whether the IRS's actions are legal. Unfortunately, they are.
However, all is not lost. There is a silver lining in this dark cloud that generally goes unnoticed given that the letter itself throws you for a loop. Should you read the letter from beginning to end, you will find that near the end, the letter states that if you are facing economic harm (hardship) or problems with the IRS system, you may be eligible for Taxpayer Advocate Service (TAS) Assistance. For more information on the function of this office, read my blog topic "Tax Problems? TAS Might Be Your Answer". In short, they are an independent agency within the Internal Revenue Service whose authority comes from Congress to step in when individuals are facing the situations listed above. They can be reached at 1-877-777-4778. This is the office that you contact if the 45 day hold on your refund is coming in midst of a significant hardship that is currently happening or can occur as a result of your refund being delayed.
For example, if you have been laid off from your job and are ineligible for unemployment, you must make the bills like anyone else. Because you are unemployed with no income you have fallen severely behind, with an eviction notice and disconnection notices out of the wazoo. You were counting on the refund to save the roof over your head and keep the gas, water, and lights on yet another day. As long as you can provide substantiation (copies of the notices), the Taxpayer Advocate Service will work as hard as they can to decrease the 45 day time period with respect to your hardship to get the refund released to you as quickly as is humanly possible. In addition, if the IRS requests substantiation of the items shown in the letter, you are able to provide this information directly to the Taxpayer Advocate, who in turn, will give it to the requesting office.
In a sense, this makes the Advocate a liaison between you and the requestor. You provide the necessary information to the Advocate needed to expedite and resolve your request and the Advocate is in place to make sure that it gets to the right people. With this office, deadlines are critical, especially when it comes to hardships. Time is of the essence. When you are contacted by your Advocate, be ready to act and quick to move. Excessive delays can result in your case being closed. Best of all, there is no monetary cost to you; only the time that would have been expended anyway in providing documentation.
With a program such as this, it is little wonder that they are mentioned only in passing in the letter. For those that fail to read, they are missing the hidden jewel amongst all the treasures. If you are able to fully capitalize on what the Taxpayer Advocate Service offers, hopefully, with their help, very soon that refund can be yours.
What else can I help you with?
What is the purpose of IRS letter 4464c?
IRS letter 4464C is a notice sent to taxpayers to inform them that their tax return is under review. The letter indicates that the IRS requires additional time to process the return, usually due to issues such as discrepancies or the need for further verification of information. It typically reassures taxpayers that they do not need to take any action unless further communication is received. The letter also provides an estimated timeframe for when taxpayers can expect to receive a resolution.
Will i still get my refund even if i got a 4464C letter?
The letter may request additional supporting documentation, in which case you should provide that. In the meantime, they're allowed to hold your refund for up to 45 days while they check into it.You should eventually receive the refund you are due, which may or may not be the refund you thought you were getting. A 4464C letter basically says that the IRS is holding onto your refund while they investigate your return more thoroughly.If the investigation shows that you should get a smaller refund or that you actually owe the IRS money, then you'll get a smaller refund or none at all. You may also get a bill for the amount due.
What do 4464C mean on yo refund?
The code 4464C on your tax refund status typically indicates that the IRS has identified a discrepancy or issue with your tax return that requires further review. This could be related to various factors, such as missing documentation or potential errors in your filing. While your refund is not processed immediately, the IRS will eventually send you a notice explaining the situation and any necessary steps you may need to take. It's advisable to monitor your status and be prepared for potential follow-up communications from the IRS.
Did some people get their taxes after their 4464c letter?
I have been waiting for my refund and filed on time (4/10/13) but received this letter 4464c on 4/30/13. I'm still waiting for my refund. After many attempts at talking to someone at the IRS, I finally got someone on the phone today (7/24/13) and was told that they have extended their time for review for an extra 11 weeks from June 27th. I asked why I wasn't notified and she indicated that they've not sent out update letters but the extra 11 weeks were needed because they are backlogged. I'm hoping to have my refund by 9/12/13 (11 weeks). Very frustrating.
What is a cp-05 letter from the IRS?
Receiving a CP-05 letter from the IRS means they are reviewing your tax return. It typically means there is a delay.
What is the purpose of IRS letter 4464c?
IRS letter 4464C is a notice sent to taxpayers to inform them that their tax return is under review. The letter indicates that the IRS requires additional time to process the return, usually due to issues such as discrepancies or the need for further verification of information. It typically reassures taxpayers that they do not need to take any action unless further communication is received. The letter also provides an estimated timeframe for when taxpayers can expect to receive a resolution.
Will i still get my refund even if i got a 4464C letter?
The letter may request additional supporting documentation, in which case you should provide that. In the meantime, they're allowed to hold your refund for up to 45 days while they check into it.You should eventually receive the refund you are due, which may or may not be the refund you thought you were getting. A 4464C letter basically says that the IRS is holding onto your refund while they investigate your return more thoroughly.If the investigation shows that you should get a smaller refund or that you actually owe the IRS money, then you'll get a smaller refund or none at all. You may also get a bill for the amount due.
What do 4464C mean on yo refund?
The code 4464C on your tax refund status typically indicates that the IRS has identified a discrepancy or issue with your tax return that requires further review. This could be related to various factors, such as missing documentation or potential errors in your filing. While your refund is not processed immediately, the IRS will eventually send you a notice explaining the situation and any necessary steps you may need to take. It's advisable to monitor your status and be prepared for potential follow-up communications from the IRS.
Did some people get their taxes after their 4464c letter?
I have been waiting for my refund and filed on time (4/10/13) but received this letter 4464c on 4/30/13. I'm still waiting for my refund. After many attempts at talking to someone at the IRS, I finally got someone on the phone today (7/24/13) and was told that they have extended their time for review for an extra 11 weeks from June 27th. I asked why I wasn't notified and she indicated that they've not sent out update letters but the extra 11 weeks were needed because they are backlogged. I'm hoping to have my refund by 9/12/13 (11 weeks). Very frustrating.
How can I obtain a copy of an IRS letter?
To obtain a copy of an IRS letter, you can request it by calling the IRS at their toll-free number or by visiting their website to download a copy.
What is a cp-05 letter from the IRS?
Receiving a CP-05 letter from the IRS means they are reviewing your tax return. It typically means there is a delay.
What is a cp 05 letter from the IRS?
Receiving a CP-05 letter from the IRS means they are reviewing your tax return. It typically means there is a delay.
Where should I send a letter to the IRS?
You should send a letter to the IRS to the address provided on their official website or on the specific form or notice you received from them.
Where can I get a copy of the letter sent by IRS for our TIN number?
Can I use an old pin number.
How can I request a payment plan from the IRS by sending a letter?
To request a payment plan from the IRS by sending a letter, you should write a formal letter to the IRS explaining your financial situation and proposing a payment plan that you can afford. Include your contact information, tax identification number, and any supporting documents. Send the letter to the address provided on the IRS website for payment plan requests.
What is IRS letter CP05?
The IRS letter CP05 simply means that the IRS has decided to review a tax payer's return to ensure that the income and the tax credit claimed it correct. Someone is advised to review the notice with the tax preparer meanwhile.
Response to IRS Penalty?
Get StartedThe purpose of this letter is to respond to an IRS notice that is assessing you a penalty. If you feel that the penalty is unjustified or too high, use this letter to explain to the IRS why you feel that way. Be honest with the facts that you give, because the IRS may question these facts later on.Attach to your letter any documentation that supports your response. This may include copies of deposit slips, canceled checks, etc. DO NOT send the original documents to the IRS because the IRS will not return them to you.Keep in mind that the IRS will not likely reduce any of the tax or interest that is being assessed. However, if you provide a good reason, the IRS may possibly reduce the penalty. This letter is only intended to address the penalty.
