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In this video tutorial, we discuss how to read your IRS online transcript, focusing on the meaning of the "as of date." The as of date on your IRS transcript does not necessarily indicate that you will receive a tax refund. The taxpayer advocate service website provides a closer look at the IRS record of account transcript, which summarizes any balance due or overpayment on your taxpayer account for the specified year. Watch till the end for more information on reading your transcript accurately.