Tax QuestionsCategory: Daily & Weekly AccountsWhat is the difference between a daily or weekly account?
Heather_Lutz asked 7 years ago

What is the difference between a daily or weekly account?

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1 Answers
Best Answer
Veronika Greenwell answered 7 years ago

The difference between Daily and Weekly is when your tax return is processed and when updates are made to your account. Daily accounts are processed throughout the week and the majority of taxpayers will fall under daily accounts. The IRS processes some refunds on a weekly basis and weeklies are only processed on Thursdays.

The IRS has identified approximately 148 million taxpayer accounts that contained characteristics that would cause a tax return to be processed weekly (called disqualifiers).

Tax Returns that have met “disqualifiers” are assigned weekly processing.

  • Entity: Entity disqualifiers relate to transactions or characteristics that are in the entity portion of a tax account. Examples include accounts marked as identity theft, accounts in bankruptcy litigation, and accounts with an IRS processing center zip code.
  • Tax Module – Freeze: Tax Module Freeze disqualifiers relate to conditions present on the individual tax periods within a tax account. Examples include tax periods with a claim pending, with an offer-in-compromise, or marked uncollectible.
  • Tax Module – Transactions: Tax Module Transaction disqualifiers relate to codes or transactions present on the individual tax periods within a tax account. Examples include tax periods with certain penalty transactions or underreported issues.
  • Incoming Transactions: Incoming transaction disqualifiers relate to conditions posting to tax periods during this Filing Season. Examples include changes to the tax account or adjustments made to the tax return as a result of actions taken at the time the tax return is processed.
  • ITIN Accounts
  • Foreign Addresses
  • Campus Addresses
  • Identity Theft Indicators of some sort
  • Prisoner File
  • Related MFT 31 Account (e.g., Bankruptcy, Offer-In-Compromise, Installment Agreements, Innocent Spouse)
  • Criminal Investigation Activity
  • Civil Penalty Account (MFT 55)
  • Tax Module History (two years prior) with CI, Exam or Collection Activity

Account status can change from year to year, however, you are usually weekly for at least 2 years at a time.

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