IRS reference number 1121 on transcript, what does it actually mean? This will be the very first question that will pop into your head when you see irs code 1121 on your transcript.
This post gives you an insight on the meaning and why you are having such on your tax transcript as generally the code signifies an error though not being specific.
What does irs reference number 1121 mean on transcript?
IRS reference number 1121 on transcript means a tax payer account on pending for a further review which usually takes up to two or more for the review process to be completed.
One will ask what is the reason for the review? But the truth is that the internal revenue service will never tell you the actual reason why your account is being reviewed.
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Generally, irs reference number 1121 doesn’t necessarily specify the actual fact or the situation of things but on the other hand it may mean there’s a problem somewhere. After the review process is done and everything sorted out, it will be updated on where’s my refund.
What does irs code 1121 means?
According to the irs, the irs code 1121 is simply a reference number that our telephone representatives use to help them research your account.
Looking at the above statement you can tell that the irs reference number 1121 on transcript is quite confusing as it doesn’t specify the actual issue or the reason why a tax payer is seeing it on its transcript.
When you see irs code 1121 on where my refund it transcript, kindly note that it’s usually a processing error code, which means there is a problem with processing at the IRS, generally it is internal where the IRS is working on a problem.
One major thing about the 1121 code is that once you see it on your dashboard or transcript, you have to wait for several weeks or even months before refunds are finally deposited into your bank account.
Why I’m not getting my stimulus check?
One of the major reason why you are not getting you stimulus check is because your bank account has changed or maybe you are no longer at the address the IRS has for you.
If you’ve changed your bank account since filing your tax return, your missing check could have been transferred to the old account.
The IRS has no way of knowing that the account has been changed, therefore the payment is paid to the account number on file with the agency. If the account holder is no longer a customer, the financial institution that received the payment must refund the funds to the IRS.
Following that, the IRS will send you a paper check or a debit card. It will be mailed to you.
If you’ve moved since filing your last tax return, the IRS may not have your current address. If it doesn’t, and you receive your refund check in the mail, the IRS will send it to your old address.
If it did, a second check will have to be written, which could take some time.
Another major reason why you are not getting a stimulus check is because you owe money.
It’s a difficult place to be in when you owe money. Most of the time, the government will pursue debtors in order to collect money owing to them.
To settle past due bills such as child support, bank debts, and private debt collections, stimulus checks might be withdrawn from you (though some states are now implementing their own rules to prevent private debt collectors from seizing stimulus checks).
Your stimulus check will not be used to erase past-due taxes, defaulted student loans, or anything dealt with in bankruptcy proceedings.
How to check irs reference number 1121
Checking your tax transcript is lot better and very convenient if you use the online method which requires you going to where’s my refund dashboard and I recommend it to you. One of the best seamlessly way of checking your tax transcript by simply using your mobile phone or your computer.
Now let’s proceed.
First, you have to open the Irs website. As a first time user, you have to register your account. You cannot view your tax transcript online without registering your account on the irs website.
So kindly do that without wasting time.
Once you have registered your account, you will have the privilege to access all the types of tax transcript online, and you can view, download or even print out your transcript.
Tap on the button to create an account, and you only need to enter your full name, email, date of birth, social security number (ssn) or individual tax identification (ITN), tax filling status and your current address.
Kindly note that irs will verify your address so you better enter the correct informations about yourself and don’t make a mistake or ommit a word.
So kindly go through the entire process and create your account. It shouldn’t take more than 10 minutes and you should be done with the account creation.
After you’re creating your account, go the Irs transcript tool page and tap get my transcript online as shown below.
Enter the non-filer’s Social Security number, email address, filing status, account numbers for loan or credit card associated with your name, and mobile phone associated with your name. Click Continue and you’re good to go.
By viewing your transcript online, you may come across the irs code 1121 on your transcript, and if it was sent to you.
The best way to check your irs tax refund is by;
Opening the Where’s my refund tool, and you will see three separate boxes to enter your filing status, refund amount and Social Security number.
You shouldn’t make a mistake while entering these informations and they should match with the informations you provided while creating your account.
When you’re done entering all the stated information, simply tap on the “Submit” button on the page to see the status of your refund.
This will come handy as irs reference number 1121 usually takes quite a long time before an update is made.