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MISSING TRANSCRIPTS? STILL 000?
If you got blank transcripts last monday/tuesday you will most likely see an update yet tonight by AM. There could be outside factors that would cause this not to happen though.
If you got blank transcripts last thursday/friday, expect to see an update on those days this week with a cycle code of 20150505.
CYCLE CODE OF 20150502 ?
WHAT IT MEANS:
If you got a cycle date of 0502 CONGRATULATIONS! Your return has been processed! Account transcript should be updated soon as well. You should expect to see WMR update Tuesday night and get a DDD for Friday 2/6! CONGRATS!
HOW TO FIND CYCLE CODE:
1. Go to http://www.irs.gov/Individuals/Get-Transcript
2. Click “Get Transcript Online”
3. Login or create an account.
4. Click on 2014 under Return Transcript.
5. If it says n/a you are not done processing.
6. Cycle code will be on line 3.
Many of you have a lot of questions about what’s going on. Understanding what’s going on can be difficult if you don’t understand the IRS jargon people are throwing around. I’m hoping I can clear some of that up for you with this post. Keep in mind I do not work for the IRS and all of this information was just obtained from the IRS manual which is publicly available. If you think any of this information is incorrect please let me know. If you have a question that’s not listed here feel free to ask and I can answer it to the best of my knowledge.
Keep in mind that this information may not apply to all situations.
What is this “cycle” I keep hearing about?
– Cycle Code is a daily cycle designated by an eight digit number indicating the year, the two digit cycle number and the two digit number indicating the day of the week (YYYYWWDD). The following values for DD are defined:
01 = Friday
02 = Monday
03 = Tuesday
04 = Wednesday
05 = Thursday
Why don’t I see a cycle code?
– If you don’t see a cycle code on your transcript it’s because it has not yet been processed completely and you are most likely being resequenced.
What does resequenced mean?
– When your return gets processed it is done automatically by computer. Occasionally there can be a glitch or problem with it in which case it fails to process and needs to be reprocessed. When this happens it is “recycled” to be processed the next cycle(The next week).
How do I know if I’m daily processing or weekly?
-Without looking at past data there’s no way to know. You can look at your past cycle codes and see if they all end in 05. If they do, you’re most likely weekly. Weekly processing happens thursday nights/Friday morning. Only the IRS can tell you for sure (Not that they will though).
The IRS said I’m under review! Why!?
– In accordance to the IRS manual, any tax payer calling in before the time frame for processing has expired will be told to wait. If you continue to push they may just tell you that you’re under review.
Why is Where’s My Refund not showing any bars?
– This is likely due to inactivity. It should update the next time your return updates.
Why are other people getting their money before me? I filed before them!
– Not only can there sometimes be issues where a return needs to be reprocessed, some peoples returns can happen faster for a number of reasons. They could be on a daily cycle while you are on a weekly. Also, in the past, refunds under a certain amount(Used to be $1000) would skip a step while processing and allow you to get your refund quicker.
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