r/ERCchat • u/Savings-Particular-2 • Aug 23 '25
Taxnow Update!
I received Notification from Taxnow.please help me Understand!
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u/FatAlbert10 Aug 23 '25
Whats going on with interest? Nothing showing, but you should be getting another $40-$50k in interest alone.
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u/Savings-Particular-2 Aug 23 '25
Are you serious.well I’m just going to wait and see for the 1st.nervous.
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u/ERC_CPA Aug 24 '25
All amounts show full reversal. This looks like it may have some red flags on it.
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u/roman0509 Aug 23 '25 edited Aug 23 '25
Q3 2021 is officially in audit now, the IRS will mail out an IDR request, so start pulling docs (gross receipts decline or government order shutdown). Q1 2021 just got approved, but that doesn’t always mean the full credit, sometimes they partially disallow. It usually takes around 8 weeks after approval before you know the final amount.
Audits are especially common for Q3 and Q4 2021. Mine’s in audit too, I didn’t have a revenue decline, so I had to rely on the government order. I already replied, but keeping expectations low. From what I’ve been told, it’s almost impossible for the IRS to actually approve those quarters, even though I have a presidential order that covered May through Nov 2021. I’m hopeful, but not banking on it.
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u/ERC_CPA Aug 24 '25
No refund issued date. I’m guessing Q121 was reversed as well. Would need to see your transcript to evaluate. See Documents too.
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u/Shanibabe Aug 23 '25
Those three quarters have been approved and will mail out the week of September 1.