IRS Transcript Shows $10,205 Refund (EIC $5,333 & CTC $4,756) - Processing Date Feb 24, 2025 - When Will I Receive It?

My transcript just updated and shows a refund amount of $10,205.00. Looking at my account details, it shows the following information: ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT ACCOUNT BALANCE: -10,205.00 ACCRUED INTEREST: 0.00 AS OF: Feb. 17, 2025 ACCRUED PENALTY: 0.00 AS OF: Feb. 17, 2025 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): -10,205.00 INFORMATION FROM THE RETURN OR AS ADJUSTED: EXEMPTIONS: 04 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: 34,594.00 TAXABLE INCOME: 12,694.00 TAX PER RETURN: 0.00 SE TAXABLE INCOME TAXPAYER: 0.00 SE TAXABLE INCOME SPOUSE: 0.00 TOTAL SELF EMPLOYMENT TAX: 0.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) Apr. 15, 2025 PROCESSING DATE Feb. 24, 2025 TRANSACTIONS CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT 150 Tax return filed 20250602 02-24-2025 $0.00 76221-422-36557-5 806 W-2 or 1099 withholding 04-15-2025 -$116.00 766 Credit to your account 04-15-2025 -$4,756.00 768 Earned income credit 04-15-2025 -$5,333.00 This Product Contains Sensitive Taxpayer Data I filed as Head of Household with 4 exemptions, and my adjusted gross income was $34,594.00 with taxable income of $12,694.00. My tax per return shows $0.00, and I had no self-employment income. The return due date/received date shows as Apr 15, 2025. The processing date is Feb 24, 2025, and my account balance is -$10,205.00 with $0.00 in accrued interest and penalties as of Feb 17, 2025. I'm seeing codes 150 (Tax return filed with cycle 20250602), 806 (W-2 or 1099 withholding for $116.00), 766 (Credit to account for $4,756.00), and 768 (Earned income credit for $5,333.00). All these amounts add up to my total refund of $10,205.00. Anyone know what this means for my refund timeline? Does the cycle code 20250602 tell me anything about when to expect my refund? Will I receive the full $10,205.00 shown as my account balance? I'm really counting on getting this money soon.

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Diego Rojas

Your transcript shows a total refund of $10,205.00, broken down into three main components: $116.00 in W-2/1099 withholdings (code 806), $4,756.00 in tax credits (code 766, typically Child Tax Credit), and $5,333.00 in Earned Income Credit (code 768). As a Head of Household filer with 4 exemptions, your adjusted gross income of $34,594.00 and taxable income of $12,694.00 put you in an optimal range for these credits. The processing date of February 24, 2025, is particularly important - this is when the IRS completes their review of your return. The negative account balance of -$10,205.00 confirms this is a refund amount, and the absence of any accrued interest or penalties ($0.00) indicates a clean return with no issues. Given these codes and dates, you can typically expect your refund to be deposited within 7-10 business days after the processing date, assuming no additional reviews are needed. The transaction code 150 confirms your return has been successfully filed and processed in cycle 20250602.

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