RefundtalkA cycle code is an eight-digit code found on your account transcripts. The cycle code indicates the day your account was posted to the IRS Master File. This date indicates the four digits of the current cycle year, two-digit IRS cycle week, and two-digit processing day of the week. Cycle Code Breakdown Example: 20190604 =…
Category Archives: Tax Transcripts
IRS Transcript Code 290: Additional Tax Assessed
Tax season can be a confusing time for many individuals, especially when you receive notifications and transcripts from the Internal Revenue Service (IRS). One such code that often leaves taxpayers puzzled is Transcript Code 290 – Additional Tax Assessed. In this blog post, we will break down what Transcript Code 290 means, why it might…
IRS Transcript Code 280: Understanding Account Resolution Pending
Tax season can be a confusing and stressful time for many individuals and businesses. One of the tools the Internal Revenue Service (IRS) uses to communicate with taxpayers is the IRS transcript, a detailed record of a taxpayer’s financial transactions with the IRS. Among the many codes found on IRS transcripts, Code 280 – “Account…
IRS Transcript Code 340: Understanding the Failure to Pay Penalty
Tax season can be a stressful time for many Americans, and dealing with the Internal Revenue Service (IRS) can sometimes feel like navigating a maze of complex codes and regulations. One of these codes, Transcript Code 340, refers to the “Failure to Pay Penalty.” In this blog post, we’ll break down what this code means,…
Understanding IRS Transcript Code 380: Balance Due on Return
Tax season can be a stressful time for many, and understanding the various codes and forms the Internal Revenue Service (IRS) uses can be daunting. IRS Transcript Code 380, which refers to a “Balance Due on Return,” is one such code that can leave taxpayers puzzled. In this blog post, we’ll break down the meaning…
IRS Transcript Code 424: Understanding Examination Request
Taxpayers often find themselves perplexed by the cryptic codes and terminology used by the Internal Revenue Service (IRS). One such code that frequently appears is IRS transcript code 424, which signifies Examination Requests. In this blog post, we’ll break down the meaning of IRS Transcript Code 424, shed light on when it may appear, and…
IRS Transcript Code 972: Reconsideration of Your Tax Return
Tax season can be a stressful time for many individuals and businesses. If you’ve ever received a notice or transcript from the Internal Revenue Service (IRS), you might have come across various codes and terms that can be confusing. One of these codes is Transcript Code 972 – Reconsideration of Your Tax Return.” In this…
IRS Transcript Code 420: Understanding Examination of Tax Return
Tax season can be a stressful time for many individuals and businesses. It’s not just about filing your taxes; it’s also about understanding the various codes and messages that the IRS sends you. One such code that often raises questions is “IRS Transcript Code 420 – Examination of Tax Return” In this blog post, we’ll…
IRS Transcript Code 290: Understanding Additional Tax Assessed
Tax season can be a stressful time for many Americans, and receiving a notice from the Internal Revenue Service (IRS) with unfamiliar codes and jargon can be intimidating. One such code you might encounter is IRS Transcript Code 290, which indicates “Additional tax assessed.” In this blog post, we’ll break down what this code means,…
IRS Transcript Code 971: Injured Spouse Allocation
Tax season can be a stressful time, especially for couples who file joint tax returns. If one spouse has outstanding debts or obligations, it can impact the entire tax refund. Fortunately, the Internal Revenue Service (IRS) has provisions in place to protect the non-debtor spouse in such situations. One of these provisions is the Injured…
Related Posts