Dispose Zip Code Transcript For Free

Codes 420, 421 & 424 (IRS further examination/audit) A transaction/tax code 420 on your transcript means that your tax return was pulled for a potential audit or further examination by the IRS.

Formally, according to the IRS pocket guide, TC 570 on your tax transcript means your return is on hold due to a pending additional liability revuew. No further processing or refund payment can be made until this hold is lifted.

Code 806 is simply an acknowledgement that your electronically filed tax return was received. Code 766 indicates a credit to your account (generally, a refund ? but it can be a credit toward taxes in a prior year, if you have those) Code 768 indicates an earned income credit amount.

The code is composed of a 4-digit year, 2-digit month, and 2-digit day. For example, a code of 20220528 next to Code 150 would mean that your return was processed and sent to the IRS master file on .

Publication 971 explains when a spouse may be relieved of tax, interest, and penalties on a joint tax return. Three types of relief are available to married persons who filed joint returns: Innocent spouse relief.

What does Code 291 (reduced tax liability) mean after TC 290? If you are due to a refund or prior tax adjustment after the IRS review (code 290), you will see a code 291 ? Reduced or Removed prior tax assessed message, with the amount of reduced tax (refund) shown as a negative number.

Hello Jane:) The 766 Code is a positive sign with a credit being issued to your account. The negative amount represents that there is a refund due back to you so no need to worry.