Many people received IRS tax topic 152 on their 2021 or 2022 transcript. If it has appeared, there is no need to panic, and if it has disappeared from your file, there is no need to panic either.
For this reason, today we’re going to cover everything related to the 152 tax issue, so you’ll know everything you’ll need to know about it. So, if you are interested in learning more about this topic, I invite you to continue reading this post carefully.
What does Tax Topic 152 mean?
When talking about tax code 152, we will discuss a transaction code. It will designate a statement that updates the entity’s data, which is posted in the transaction section of the entity.
It is the explanation given by the IRS according to the official description given according to the Internal Revenue Service Master File Codes.
The meaning of this code is related to the tax return being processed. It will also apply if the government or the IRS has not approved or rejected your refund.
It is a code that will provide information about refunds, and in some cases, the status of the refund may take a while to update.
Should I be concerned if it appears on the form?
There is no reason to be alarmed if you see tax topic 152 on your tax transcript. If you have any questions, it is best to immediately contact an IRS representative who can provide you with assistance.
You may also contact a tax expert who can provide you with detailed information. However, in most cases, it will be enough to wait a short time until the system is updated, and it will go away.
If you get the message, “Your tax return is still being processed. A refund date will be provided when available,” don’t be alarmed because many people will see this on their tax transcript.
It just means that the IRS is still processing your tax return. If you should receive a refund, you will be provided with a date when it will be issued as soon as it is available. There is no need to worry at all because it is a process that is fairly straightforward.
What does it mean if Tax Topic 152 disappears?
If you check the tax status in the “Where is my refund?” section, you may find that tax topic 152 will disappear. It will happen in WMR, and it continues to disappear while processing the tax return.
On some occasions, you may get a deposit date but still have “Still processing,” but in these cases, usually, the 152 notice will disappear. If this does not happen, the only ones who can give you accurate information are the Internal Revenue Services.
Is this tax code good or bad?
Note that this code is not good, but it is not bad either. It is a neutral code. This code only means that the tax return is being processed. It is not related to late payments, penalties, or any irregular situation, so there is no cause for concern if it appears on your tax transcript.
On the other hand, tax topic 152 will not mean that you will receive a refund soon. It will simply indicate that your refund is being processed. The return may be accepted or rejected after final review, so it is not a money-back guarantee.
Why does my refund say it is still being processed?
When the refund says it is still being processed, it will indicate that the Internal Revenue Service is working on it. In these cases, there is nothing you can do except wait for the processing to be completed, and that is when you will know what will happen to your refund.
It is always important to contact the IRS directly for assistance in tax-related issues.
What does it mean that a tax return has been received?
It should note that a tax return that has been received is not the same as a tax return being processed. If the return is being processed, you are likely to receive a refund of your money soon.
However, when you get the message “We received your tax return,” the return has been received but is not yet being processed.
Therefore, you are still in the early stages of the process, and the refund is not yet being processed. In these cases, you must wait until the tax topic 152 appears on your tax form for processing to begin.