RefundtalkTax 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…
Category Archives: Tax Transcripts
IRS Transcript Code 766: Understanding the Credit to Your Account
Tax season can be a stressful time, filled with complicated forms, calculations, and endless paperwork. If you’ve recently requested an IRS transcript or have received one, you might have come across various codes and not understood their meanings. One such code is 766, which is often referred to as “Credit to Your Account.” In this…
The As Of Date on IRS Tax Transcripts: Understanding its Significance
When obtaining IRS Tax Transcripts, you may come across an As Of Date mentioned on the document. This date holds significance and provides valuable information regarding the status of your tax account. In this blog post, we will delve into the details of the As Of Date, demystifying its meaning and explaining its relevance for…
Tax Transcript Codes 570 and 971: Understanding Additional Account Action Pending and Notice Issued
Tax season can often bring confusion and anxiety, especially when encountering unfamiliar codes on your tax transcript. Two common codes that taxpayers may come across are 570 and 971. In this blog post, we’ll explore the meaning of these codes, and their sequence, and discuss whether it’s better to receive a 570 followed by a…
Decoding Tax Transcript Code 150: Understanding its Significance
Tax season can often leave us puzzled by the numerous codes and terminologies we encounter. One such code is “150” which appears on tax account transcripts. If you’ve come across tax transcript code 150 while reviewing your tax documents, you’re in the right place. In this blog post, we’ll unravel the meaning and implications of…
Tax Transcripts: A Step-by-Step Guide to Break Down and Understand Them
Tax transcripts are essential documents that provide a detailed summary of your tax return information. While they may appear complex and intimidating at first glance, understanding how to break down and interpret tax transcripts can offer valuable insights into your financial history. In this blog post, we will unravel the mystery surrounding tax transcripts and…
IRS Account Transcripts: Unlocking Valuable Tax Information
Taxation is an integral part of our lives, and understanding our financial obligations to the Internal Revenue Service (IRS) is crucial. When it comes to accessing and interpreting your tax records, IRS account transcripts play a pivotal role. In this blog post, we will delve into the world of IRS account transcripts, shedding light on…
What does Transaction Code 424 mean on my Account Transcript?
The transaction code TC 424 is an Examination Request and is the code that will appear on your tax transcript if your tax return has been referred for further examination or audit. The IRS uses this code TC 424 when a tax return is submitted to the Examination or Appeals Division. TC 424 means the…
What does Transaction Code 420 mean on my Account Transcript?
The transaction code TC 420 is an Examination of the tax return and is the code that will appear on your tax transcript if your tax return has been referred for further examination or audit. The IRS uses this code TC 420 when a tax return is submitted to the Examination or Appeals Division. TC…
What does transaction code 810 mean on my Account Transcript?
The Transaction Code TC 810 Refund Freeze is a Freeze Code the IRS uses that will hold/stop a refund from being issued until the impact of the action being taken on the account and the refund is determined and processed. We know this can be stressful for you, but there are reasons for it, including…
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