571052
You'll need to sign in or create an account to connect with an expert.
[removed link]
So I have -7120 on top half of transcript then I have -2139 by my earned income credit what does that mean
The IRS tax transcript is a summary for your tax return. It sounds as if you have a credit of 2139 which is included in your total refund or was subtracted from your tax liability. If the total refund is -7120 the EIC will be included.
The IRS will process the return and make the refund unless it is taken for an offset. A refund offset is when an IRS refund is reduced or intercepted to pay off debt, such as past-due child support, outstanding student loans, or unpaid state income tax.
You will always receive a notice in the mail if an adjustment or offset occurs. The notice will include the original tax refund amount and the revised amount. It will also include the agency receiving the offset payment and that agency’s contact information. If you believe you do not owe the debt or you want to dispute the amount taken from your refund, you should contact the agency that received the offset amount.
Do I need transcript tax to get a [removed] Facility?
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Miked668
New Member
LeighUase
Returning Member
michael.roush.15
New Member
mberthiaum0130
Returning Member
fruity
Returning Member