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In this video, the speaker explains the cycle code that appears on your account transcript. They mention that the code can change, so it's essential to check regularly. The cycle code indicates how often your return is updated, with some being weekly and others daily. The number on the screen (2022.0602) represents the master file for your return update. Depending on your cycle date, you may receive updates daily or weekly, potentially affecting when you receive your refund from the IRS.