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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
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Experience:  Extensive Experience with Tax, Financial & Estate Issues
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what is irs reference number 1121? what does it means? am

Resolved Question:

what is irs reference number 1121?
what does it means? am i not getting my refund?
Submitted: 2 years ago.
Category: Tax
Expert:  Stephen G. replied 2 years ago.

Stephen E. Grizey :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

Stephen E. Grizey :

Did you receive a notice with that code? What did the notice say?

Customer:
Customer:

no notice. it shows when i check the status of my refund on the irs site


 

Stephen E. Grizey :

OK

Customer:

i had direct deposit date and the day the refund was to be deposit it did not.


then i check back in a couple days and there it was 1121

Stephen E. Grizey :

It means that your return is being reviewed at the first level of review; usually means comparing your return to employer payroll tax filings

Customer:

and how long is that process?


and why?

Stephen E. Grizey :

also, sometimes there's an error in processing within the IRS & the code will indicate that you are going to get a paper check rather than a direct deposit;

Stephen E. Grizey :

they have up to 7 weeks to "review" the return & then they either have to send you notice requesting additional information or process your refund

Customer:

its been saying that for three weeks now..


my sister has been waiting since feb. for her return. when she check it says three to six weeks whatis that about sir?

Stephen E. Grizey :

Unfortunately, you just got "lucky" and were drawn out the hat randomly for closer review; possibly a math error; nothing to be overly concerned about at this point; most just get tossed back into the processing system & go on through

Customer:

what do u mean? is that a good thing or bad?


 

Customer:

and what do u mean most just get tossed back into the processing system & go on through? and what can i do to prevent this in the future? what errors does the irs look for in processing returns?


 

Stephen E. Grizey :

well it is bad from your standpoint because you don't have your refund; it's good because it doesn't necessarily mean that there's a problem; just that your return was randomly selected to be reviewed manually; mostly it is just looked at & if nothing unusual it just gets reprocessed; if not, you'll get a notice; it just delays everything;

Stephen E. Grizey :

nothing you can do about it

Customer:

what errors does the irs look for in processing returns?


 


 

Stephen E. Grizey :

the computers check all the math; doesn't mean they found an error;

Stephen E. Grizey :

eventually all the 1099 data is compared between what they received from third parties & what's on your return, but that's not what this is about; if that were a problem, you would receive a notice & have the chance to resolve the difference; that comparison hasn't been done yet for 2011;

Customer:

what tax forms besides 1099 data is not compared between what they received from third parties & whats on my return? and why cant i filed form 8689 by e-file


 

Customer:

and when is the comparison done? because thats one of the forms i filed which was my 1099- div


 

Stephen E. Grizey :

hold on a minute

Customer:

so will i have to be prepared to send a copy in?

Customer:

also can u tell me when is the best time or appropiate time to file my 1099-int and my 1099-div sir. thank you


 

Customer:

mr. grizey, are u there sir?


 

Stephen E. Grizey :

yes

Stephen E. Grizey :

just a minute

Customer:

ok sir.. sorry


 

Stephen E. Grizey :

what do you mean you filed your 1099-DIV?

Stephen E. Grizey :

my name is Steve; that works better than sir :}

Customer:

tax form 1099-div. e-filed


 

Stephen E. Grizey :

You don't file 1099s with your return, so I don't understand what you mean?

Stephen E. Grizey :

Are you talking about a different subject now, other than your delayed refund?

Customer:

this was part of my tax return. so i wasnt supposed to filed 1099-div? what was i to do with my 1099-div?

Stephen E. Grizey :

The information from your 1099s is entered on your tax return & the 1099s are kept in your own tax file.

Stephen E. Grizey :

The IRS gets the 1099s from the payers of the dividends, interest, etc. & compares it to your tax return entries

Customer:

thats what i did i enter the 1099-int and 1099-div on my return.

Stephen E. Grizey :

So what's your question?

Customer:

when is the appropiate time to report 1099s? beginning of the year, all year, or before the deadline?


and what other forms beside 1099s are not compared with third parties. last questions steve

Stephen E. Grizey :

What do you mean "report 1099s"?

Customer:
Customer:

enter on my tax return

Stephen E. Grizey :

You have done everything you need to do; the payers are supposed to furnish you a 1099 by January 31st of the year following the reporting year; often they come in late, which is why you need to know what is coming & not file your tax return until you have them all;

Stephen E. Grizey :

There are hundreds of third party reporting forms that are compared with tax returns; you can figure that pretty much everything of any consequence is reported to the IRS by someone & compared to your return;

Stephen E. Grizey :

At this point there is nothing you can or should do except wait; keep checking the website to see if there's any change; hopefully, your refund will be released, sooner rather than later.

Stephen E. Grizey :

Please remember to rate my responses in order that I can get credit for my work

Stephen E. Grizey :

Thanks for using JustAnswer

Stephen E. Grizey :

If you need me again, just ask for "Steve G" at the beginning of your question.

Customer:

ok

Customer:
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 4199
Experience: Extensive Experience with Tax, Financial & Estate Issues
Stephen G. and 4 other Tax Specialists are ready to help you
Expert:  Stephen G. replied 2 years ago.
Hello, Steve Grizey here.

Just thought I'd check back to see if there's been any change in the status of your delayed income tax refund, that we discussed a little over a week ago?

If I can help you further, please let me know.

Steve Grizey

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Stephen G.
Stephen G.
Sr Financial & Tax Consultant
3661 Satisfied Customers
Extensive Experience with Tax, Financial & Estate Issues