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Level 1
February 19, 2020
Question

I went to check my transcripts and saw codes 150,806,766. It says w2 withholding on april 15,2020. And credit to your account april 15th 2020. Does that mean thats when im getting my refund?? Helpppp

  • February 19, 2020
  • 5 replies
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5 replies

ReginaM
Level 12
February 20, 2020

Don't panic, these master codes are for the IRS and may have no consequence to you.

 

The IRS uses an electronic system to check and process tax returns.  Even paper returns are uploaded into the system called the Master File.  As a tax return is processed, there are transaction codes added to it to indicate changes.  Many of these changes don't mean anything of real consequence to you.  They are used to keep an accurate record of changes in the tax return from year to year.  Other codes can be of some significance if the IRS has adjusted your return.

  • Code 150 - Means that your return was filed and your tax liability was established,
  • Code 806 - Means that there was a credit for Withheld Taxes & Excess FICA,
  • Code 766 - Means that IRS TOP Offset a Reversal 

If you need to do anything the IRS will let you know.  You may contact the IRS to get a clearer picture of when you will receive your refund by calling 1-800-829-1040 between 7 am - 7 pm.

 

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Level 4
April 21, 2020

It states this on my transcript on April 15  will my refund be processed this week?

VictoriaD75
Level 12
April 24, 2020

You can track the progress of your refund through the IRS Where's my Refund tracking tool.

 

IRS Where's My Refund

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Level 2
April 12, 2021

I checked my transcripts for my 2019 tax return it finally has a tax code of 150 but that’s it does that mean there finally going to process my return

Level 15
April 12, 2021

@Nikkinikki84

Yes, your return has been processed, but you may not have received notification yet.

According to the IRS's Master File Codes, Transaction Code 150 means "Return Filed & Tax Liability Assessed; A tax liability assessed from the original return establishes a tax module."

Level 2
April 12, 2021

Okay so I should look forward to receiving that refund this year cause it's been more than a year and I finally have that 150 code

Level 2
April 15, 2021

So I already got my taxes but I have a 806 with a negative amount 

and a 766 with a negative amount dated for today ?! Does that mean I was supposed to get that money today ??? They both have the date 4-15-2021 by it .

Level 15
April 15, 2021

Code 806 acknowledges your electronic filing. Code 766 means credit to your account. For additional questions, you would need to contact the IRS. Please see How do I contact the Internal Revenue Service (IRS)? for their contact information. 

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Level 2
April 15, 2021

Okay so that credit to my account basically means I’ll be getting that amount in my account ? I just want to make sure I’m understanding . 

Level 2
February 19, 2022

Hello

I received an alarming call from my tax preparer saying my refund was excepted but Partially some will be taking..... So we looked my transcript and I received a code 105 for the amt of $2581. I owed state taxes for 2 years  and have gotten the balances down to $630 .... so are they taking $2581( code 105). please help..Thanks so much 

Katina S
Level 8
February 19, 2022

You can check out this thread with a discussion on what those codes mean.

 

@Itsh_sims

Level 2
February 20, 2022

Yes I have code 150 with a amount 6.00 beside it what’s does that mean

Level 15
February 20, 2022

Please see the link provided above by @Katinas for a detailed description of transcript codes. 

@jbaby28

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