How to Understand Your CP05 Notice (Holding your tax refund for further review)

[@laviathion]

After waiting my 60 days they told me they dont have an answer for me and that I have up to another 60 days before they can give me more details. Sure it's not the case for everyone but I'm not the only person i know who's in the same boat as me here so i thought this would be a good place to mention it. Thanks for making this video.

[@laviathion]

I should mention that this is after not being contacted by them within the initial 60 days and reaching out myself today.

[@Only1badboi]

Did you get your refund yet ?

[@laviathion]

@@Only1badboi I actually just got a letter in the other day, after 90 total days, and it let me know that it will be another 60 days.

[@Vaughn1269]

I’m having the exact situation currently, filed in early February, received a CP05 do not respond notice on April 1st, waited the 60 days and contacted them and got no answers and told that the 60 day period is actually 120 days even though it clearly stated 60 on the notice I received. I received another notice 2 days after I contacted them stating that it will be an additional 60 days do not contact. Completely ridiculous.

[@robertjohnson341]

Well it’s not actually 60 days but actually 120 days 😕

[@vickywilcox3910]

Today is May 25, 2024. I filed my taxes in mid-February. The where's my refund changed 2 weeks ago to stage 5, needs further review. Why? And how much longer do you think it will be until I can find out if and when I am going to receive them? Would you happen to know where I go from here?

[@teachmepersonalfinance2169]

I have no idea what will happen with your refund. The best that I think you can do is to contact the IRS and ask the representative if there’s any more information about your refund. If there is past due tax debt or other debt, such as child support, Social Security overpayment, or past due student loan debt, your refund might be used to offset those debts. You can also file IRS Form 4506-T to request tax transcripts from prior years to see if there are any taxes that you still owe. IRS Form 4506-T, Request for Transcript of Tax Return Article: www.teachmepersonalfinance.com/irs-form-4506-t-instructions/ Video: kzbin.info/www/bejne/qavYZ5KZfZqEprs If it’s not tax debt, then the IRS may simply be looking at your return itself, to see if there’s a credit or deduction that doesn’t look right. You might get more information if you call.

[@luisalbertoperezclemente6600]

you were able to receive your refund

[@KINGCATAL1YST]

I've waited my 60 days no update I've called the number on my cp5 it still says can't locate my refund in the system smh what should I do now

[@teachmepersonalfinance2169]

I've seen posts online stating that it can take more than 60 days (like another 30-60 days beyond that). However, if you're not getting any status, you can file IRS Form 3911, which is the form that you would file to have the IRS track down a missing refund: IRS Form 3911, Taxpayer Statement Regarding Refund Article: www.teachmepersonalfinance.com/irs-form-3911-instructions/ Video: kzbin.info/www/bejne/onbTln9vZpqEq5o

[@darkprincess9747]

Do you have any idea on CP12?

[@teachmepersonalfinance2169]

It appears that this would be an overpayment amount. However, the CP12 notice on the IRS website is so heavily redacted that I don't really feel that I can use it as a good example for a video. If you would like me to create a video using your CP12, feel free to upload it to the upload folder I've created (see link below). Before you upload it, please redact any sensitive information, such as your name and Social Security number. drive.google.com/drive/folders/1TSZzMbAO_d2pcbw1Jxc0o-oEatQk8Ew7?usp=drive_link

[@DenelleSmith]

I have received the CPO5 notice. I am very worried about getting my refund and I did file my income tax return. How do I find out when I will get my refund

[@teachmepersonalfinance2169]

I can imagine that this can be nerve-wracking for you. I don't know when you would get your refund, but the IRS generally says that it can take up to 60 days to review your return and notify you of any adjustments or other IRS actions. If you haven't heard back within 60 days (of the notice date at the top of your notice), then I would suggest following up with the IRS.

[@enine2007]

@@teachmepersonalfinance2169 what would you say is the probability of then contacting you within the 60 days?

[@teachmepersonalfinance2169]

@@enine2007 I have zero idea. I would just mark 60 days on a calendar and follow up as soon as that date arrives.

[@luisalbertoperezclemente6600]

It's been three months and you already received the refund.

[@luisalbertoperezclemente6600]

you were able to receive your refund ?

[@JoyceBrown-jt9gg]

Need to rerliest the refund some body haft to what on they money. That not right.

[@teachmepersonalfinance2169]

This comment is illegible. Can you rephrase it?