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How do you read a transcript from the IRS?

Several years ago, the IRS gave individual taxpayers online access to their IRS transcripts. If you set up an account on the IRS Get Transcript tool, you can view the five types of transcripts right away. Business taxpayers can call the IRS at (800) 829-4933.

How do I read my 2019 tax transcript?

Heres what is visible on the new tax transcript format: Last four digits of any Social Security number on the transcript: -XX-1234; Last four digits of any Employer Identification Number on the transcript: XX-XXX1234; Last four digits of any account or telephone number;

What does refundable credits per computer mean on tax transcript?

A refundable tax credit can be used to generate a federal tax refund larger than the amount of tax paid throughout the year. In other words, a refundable tax credit creates the possibility of a negative federal tax liability. An example of a refundable tax credit is the Earned Income Tax Credit.

What does a negative account balance mean on tax transcript?

A negative on the transcript means that a refund is due on the return, it does not indicate when a refund is on its way or when it will be received. This doesn't indicate or answer the question whether it will be used to pay off a past due debt.

Where on tax transcript does it show refund date?

Refund direct deposit date (with Code 846) via cycle code When you see the IRS code 846 (refund of overpayment) on your transcript it means a refund has been issued. This is when you can use the cycle code to get an estimated payment date for your refund.

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What does per computer mean on tax transcript?

What does 'per computer' mean? An IRS Tax Return Transcript may include \u201cper computer\u201d figures for some federal income tax return data. The \u201cper computer\u201d figures correct mathematical errors on the federal income tax return.

What does PR and PC mean on tax transcript?

Tax Period Ending: Dec. 31, 2017. The following items reflect the amount as shown on the return (PR), and the amount as adjusted (PC), if applicable. They do not show subsequent activity on the account.

What does as of date mean on IRS tax transcript?

It most likely means that the IRS has not processed your return yet. You should check the IRS website Where's My Refund, that has the most up to date information.

How do I read my IRS transcript 2022?

1:43 8:04 How To Read Your IRS Tax Transcript, IRS Code 570 420 826 - YouTube YouTube Start of suggested clip End of suggested clip Directly from the irs.gov. Website will actually show you detailed updates in pretty close to realMoreDirectly from the irs.gov. Website will actually show you detailed updates in pretty close to real time because the irs will either update your transcript daily or weekly depending on which type of

What does the date on my tax transcript mean?

The first four digits indicates the tax processing year, so this would be 2022. The fifth and sixth digits are the week of the year, so in this example the '06' would mean it is the sixth calendar week of the year.

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