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Transaction Code Overview
Transaction Codes (TC) sometimes called transcript codes consist of three digits and appear on your IRS account transcript. A transaction code is used to identify when an action posted to your tax account Master File while your tax return is being processed. They help to show a history of actions taken by the IRS. Every transaction processed must have a transaction code; however, they are not all visible on an account transcript.
Transcript Transaction Codes Perform Actions on Tax Accounts
- Issue Tax Refunds
- Freeze Tax Refunds
- Create offsets to tax refunds
- Adjust credit and debits to tax accounts
- Issue Notices/Correspondence
This list is not all inclusive but they are the common uses of transcript transaction codes. Some actions taken by the IRS are not visible to taxpayers.
How to Read your IRS Account Transcript
Are you trying to decipher what a transcript transaction code means? Many people are looking for transaction code 846. Transaction code 846 indicates a refund has been issued. TC 570 and TC826 on your account transcript are other common codes.
IRS Transcript Code 846 Refund of Overpayment is the transcript code that signals the time for a happy dance and that a refund is forthcoming.
IRS Transcript Code 570 Additional Liability Pending/or Credit Hold is a code that can mean different things for different people and your refund could be delayed. But don’t worry, it doesn’t mean you are being audited. Let’s call it the Bump in the Road code.
IRS Transcript Code 826 Overpayment Transferred is a code that means that a refund will be used to pay old IRS debts (offset).
IRS Transcript Code 898 FMS TOP Offset is a code that means that a refund will be offset and used to pay other non-IRS tax debt.
Common Transcript Transaction Codes
The next section are also some common codes. The complete list of IRS transcript codes are at the bottom of this page. You can use the transcript search tool and see what other codes mean on your IRS account transcript.
Tax Return Filed
Examination Request Indicator
Reversed TC 424
Additional Account Action Pending
Generated Refundable Credit Allowance, IRS TOP Offset Reversal w/OTN
Earned Income Credit
IRS Code 826 is a code that mean Overpayment Transferred and the refund will be used to pay old debts. (offset)
Refund Freeze
Reverse Refund Freeze
IRS Code 846 signals a refund has been issued and it is time to do a happy dance.
IRS Code 971 is a code meaning Miscellaneous Transaction. It usually signals that you will be getting a letter in the mail with more information about your tax return.
IRS Reference Code 9001 is on the WMR, not transcripts. It is a code meaning there was an attempt to access information using the wrong Social Security number or TIN. We have a list of more WMR Reference Codes
Search All IRS Transaction Codes and Error Codes
Search the complete list of IRS transaction codes from the official Internal Revenue Manual below.
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