What Do These IRS Codes 570, 846, and 826 Mean on My Transcript?

This piece goes into more depth about what IRS Codes 570, 846, and 826 Mean: What Do These Codes Mean on My Transcript?

How to Read IRS Codes 570, 846, and 826

It might be hard for regular people to understand taxes and transaction codes. There may be a lot of numbers, acronyms, and due dates on your tax forms, which can make them hard to understand.

These three-digit numbers, which are called IRS transaction codes, are used by the IRS to track all of its activities related to your taxes, such as payments and debits. The codes are used to put together your account’s information. A lot of people feel stressed, worried, and anxious because they don’t understand what these codes mean or what steps they need to take.

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So, in this part, we’ll talk about what some common IRS Codes mean and how they affect people who file taxes.

How to Read the IRS Code

Transaction Codes (TC), which are three-digit numbers, may be on your IRS account record. TC stands for “transcript code.” A transaction code tells the tax office when to add something to your tax account master file while your tax return is being processed.

They help shed light on what the IRS did in the past. There must be a transaction code for every finished transaction, but not all of them can be seen on an account transcript.

What Does the IRS Code Mean?

Article HeadingIRS Code 570, 846, 826 Meaning
Purpose of IRS CodesTo provide the history of IRS account.
Where to Find IRS CodesOn IRS Transcript

What Do These IRS Codes on My Transcript Mean?

What Do These IRS Codes 570, 846, and 826 Mean on My Transcript?
Code 570 for the IRS

The IRS can’t finish processing your return because there is a hold on your account, which is shown by transaction number 570. You shouldn’t give the IRS any more information until they ask for it.

There could be a difference between the wage reports you made and the ones your employer(s) sent to the IRS. This is just one of many possible reasons why the tax return looks wrong. It could also happen if your return has mistakes or missing information, or if the IRS makes changes to account for past-year responsibilities.

The IRS can change this on its own, and it often does so based on its judgment. If the IRS can’t solve the problem, they may send you a follow-up. If they find more problems, they may decide to do an audit.

Code 846 for the IRS

There was a return from the IRS with interest added, as shown by transaction code 846. TC 846 means that the IRS has paid you more in taxes than you owe. This code is what most people who want a tax return want to see.

What does this code mean on your transcript? It means that your reimbursement has been handled, which is good news. If your banking information is wrong and your IRS return is turned down, you will still get code 846, TC 841, and 971. A paper check will be sent to your home address within four to six weeks after the IRS is told that the payment did not go through.

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Code 826 for the IRS

A part of your tax return, identified by transaction number 826, was used to settle an outstanding tax balance. This means that your return is being used to pay off old bills. It is normal for the return to be applied first to your biggest tax debt. It could be any kind of debt, like child support or college bills.

Last Words

The transaction numbers might help you figure out why your tax return is taking so long to process. Your IRS account transcript shows a list of IRS transcript codes that show all of your account activities over time. You can use the transcript search tool to find out what other codes on your IRS account transcript mean.

We’re really glad you stuck around to the end of this story about what IRS Codes 570, 846, and 826 mean.

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