Plan Numbers Transcript For Free

Unless something else comes up you should get paid this amount and see it reflected via Code 846, when your refund is issued. Yellow CODE 766 (-$3,000): Your refundable credits. These are items like stimulus checks (RRC) and Child Tax Credit (CTC).

A transaction code can be described in some ways as a tool for tracking refunds and account transcripts. "Transaction Codes (TC) consist of three digits and they are used to identify a transaction being processed and to maintain a history of actions posted to a taxpayer's account on the Master File," explains the IRS.

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.

There are dozens of codes, but Code 846, Refund Issued, is one you will generally WANT to see this on your account tax transcript (under the Explanation of Transactions section) after your return has been through IRS system processing.

There are five types of transcripts available through TDS: Tax Return. Tax Account. Wage and Income. Record of Account. Verification of Non-Filing Letter.

Transaction Code 421 indicates an Estate Tax Return (Form 706) has been accepted as filed or that the examination is complete. Please note that the Transaction Code 421 explanation will display "Closed examination of tax return" in all instances.

The IRS uses this code TC 424 when a tax return is submitted to the Examination or Appeals Division. TC 424 means the IRS pulled your tax return for further examination to ensure that your reported taxes are accurate.