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Transaction Codes 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.

No more checks coming Because you received part of your refund in the form of Advanced Child Tax payments in July, August, September, October, November, and December, your refund will most likely be smaller this year. Remember, Tax Day isn't on April 15, 2022; it's on April 18, 2022, the Monday following Easter.

The ?As Of? date on a Tax Account Transcript is the date your penalties and interest are estimated to be calculated to determine if you have a balance due or tax refund. It's computed to a future date in the case someone may owe and they want to mail their check-in rather than pay online.

A second rebate was approved in August 2022 to grant another $200 per taxpayer. Most taxpayers will receive their refunds by direct deposit and the second payments started rolling out in late August. If you changed banks or don't have direct deposit information on file, you'll receive a paper check.

Therefore, it will look something like 20220602. The first four digits indicates the tax processing year, so this would be 2022. The fifth and sixth digits are the week of the year, so in this example the '06' would mean it is the sixth calendar week of the year.

The IRS daily processing cycle is indicated by the last two digits of your eight-digit cycle code. Digits 01 through 04 are typically indicative of a daily cycle, while digit 05 means you are on a weekly cycle.

Rebate payments will be processed through 2022 and into 2023 as residents file the necessary tax returns.

The negative amount represents that there is a refund due back to you so no need to worry.

An IRS Code 766 on your tax transcript is good news. Code 766 means that you have a credit on your account, which might be the result of a refund, an overpayment from a previous year, or a credit from the current year's return. In any case, it means that your tax liability has been reduced.

If you're struggling in the aftermath of the COVID-19 pandemic, the IRS is providing penalty relief to most people who filed certain 2019 or 2020 returns late. By the end of September 2022, you may be one of millions of taxpayers who will automatically receive refunds or credits of assessed penalties you paid.