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

[ReginaM]

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.

[mlfrazier35]

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

[VictoriaD75]

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

IRS Where's My Refund

[Nikkinikki84]

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

[JohnW152]

@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."

[Nikkinikki84]

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

[JohnW152]

@Nikkinikki84

Maybe. 

Do you see any other codes on your transcript?  The 150 code only shows taxes that were owed before any credits and withholding were applied.

[Nikkinikki84]

No it still says single doesn’t have my dependents just cycle 20201605 05-04-2020 0.00 code 150 and before it just said no return filed

[MoriahShanee]

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 .

[MichelleLO]

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. 

[MoriahShanee]

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 . 

[Nikkinikki84]

846 refund issued is money added to your account the other is a credit

[Nikkinikki84]

4/15/21 is the tax deadline or was shall I say but they extended it until May 

[SamS1]

The tax filing deadline for individuals has been extended to 5/17.  You need to check your state tax website for the filing due date of your state return.  The first estimate tax payment for 2021 is still due 4/15.