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1major92
New Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

 
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DianeW
Expert Alumni

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

A negative on the transcript means that a refund is due on the return, it does not indicate when a refund is on its way or when it will be received. This doesn't indicate or answer the question whether it will be used to pay off a past due debt.

If you are concerned about whether your refund will be used for any past due debt you can call the  Bureau of the Fiscal Service (BFS).  

Contact the BFS's Treasury Offset Program (TOP) call center at 800-304-3107 or TDD 866-297-0517, Monday through Friday 7:30 a.m. to 5 p.m. CST. Contact the IRS only if your original refund amount shown on the BFS offset notice differs from the refund amount shown on your tax return.


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28 Replies
rickw7237
New Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

I lost $$$$ on the Federal but came out ahead on the other I came out ahead on both state forms with an overall result to the good..
DianeW
Expert Alumni

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

A negative on the transcript means that a refund is due on the return, it does not indicate when a refund is on its way or when it will be received. This doesn't indicate or answer the question whether it will be used to pay off a past due debt.

If you are concerned about whether your refund will be used for any past due debt you can call the  Bureau of the Fiscal Service (BFS).  

Contact the BFS's Treasury Offset Program (TOP) call center at 800-304-3107 or TDD 866-297-0517, Monday through Friday 7:30 a.m. to 5 p.m. CST. Contact the IRS only if your original refund amount shown on the BFS offset notice differs from the refund amount shown on your tax return.


Mtott805
New Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

Did you ever figure out what this meant? Having the same problem this year

Cynthiad66
Expert Alumni

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

Check the codes.  Code 846 means refund.

 

On a Return Transcript there is a line that says REFUND AMOUNT and -$XXXX and yes that is your refund amount.

 

On an Account Transcript you will see lines such as:

764 Earned income credit followed by -$XXXX and that is the amount of your refund from the EIC

 

846 Refund Issued followed by -$XXXX and this is the amount of your final refund.

4CHASITY
New Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

What’s 766 means in transcript 

Critter-3
Level 15

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

shannonhumphrey11
New Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

I am having a similar situation, but mine two amounts 

one part says Bal Due/Over Pymnt using TP fig per computer -xxxx

Then right under that it says the samething but a different amount -xxx

does this mean I get both amounts or what

Critter-3
Level 15

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

Look at the form 1040 and the transcript side by side so you can better understand what the amounts represent. 

Mom92
New Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

That is exactly what mine is like!!  Two lines with different amounts... Any help?

Critter-3
Level 15

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

A negative on the transcript = a positive item on the return like a credit.  

JamesG1
Expert Alumni

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

IRS transcripts are not always easy to follow.

 

IRS transcript codes can be found here.

 

 

 

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DHeath1986
Returning Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

My transcript updated today shows refund issue for the amount from my 1099 but it’s not giving me my EIC or CTC but it still shows. In my account balance as a negative amount is anybody have a similar issue for my refund due it shows 2/24/2022 which I wasn’t even expecting really anything till March like last year I claim 2 dependents both my son's claimed my 6 year old for 5 years( his mother claimed him once ) and my 3 year old for all 3 years 

TeresaM
Expert Alumni

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

The IRS is processing many returns but there have been many changes in the last year and some of them are slowing down some of the returns. It sounds as if you are tracking your refund with the IRS Where's My Refund tool. Here is an IRS page with additional information about what to expect. IRS Refund information

 

If your return with a refund claims an Earned Income Credit or Additional Child Tax Credit, it would not have begun processing until at least February 15th. This is part of the PATH Act. If your return contains either of those credits, you can find more information at this IRS website. It currently says returns that are otherwise clear to refund should be refunding by March 1st.  IRS refund processing dates EIC and ACTC

DHeath1986
Returning Member

My tax transcript say minus sign signifies a credit amount, what does that actually mean? Will I receive my refund or did the government take it?

Nope the WMR just says processing everything I provided in my post came from my IRS account viewing my transcripts if your response was to me if ment for another sorry disregard unless anyone had input 

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