
IRS
CommunityGovernment Services


Ask the community...
Can someone help me understand my 2022 tax transcript? I filed as Head of Household with an adjusted gross income of $51,565.00 and taxable income of $32,165.00. Looking at my Record of Account from the Internal Revenue Service (United States Department of the Treasury), I'm trying to understand what everything means. The transcript says "This Product Contains Sensitive Taxpayer Data" at the top. According to my transcript, I have an ACCOUNT BALANCE of $461.00 AS OF Mar. 20, 2023, with ACCRUED INTEREST of $0.00 and ACCRUED PENALTY of $0.00 (both AS OF Mar. 20, 2023). It shows my ACCOUNT BALANCE PLUS ACCRUALS as $461.00 with a note that "this is not a payoff amount". Under "INFORMATION FROM THE RETURN OR AS ADJUSTED" it shows: EXEMPTIONS: 03 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: $51,565.00 TAXABLE INCOME: $32,165.00 TAX PER RETURN: $1,068.00 SE TAXABLE INCOME TAXPAYER: $0.00 SE TAXABLE INCOME SPOUSE: $0.00 TOTAL SELF EMPLOYMENT TAX: $0.00 The RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) is Apr. 15, 2023 PROCESSING DATE is Mar. 13, 2023 In the TRANSACTIONS section, I see: CODE 150 - Tax return filed - CYCLE 20230805 - DATE 03-13-2023 - AMOUNT $1,068.00 There's also a reference number: 32221-439-36357-3 CODE 806 - W-2 or 1099 withholding - DATE 04-15-2023 - AMOUNT -$607.00 CODE 971 - Notice issued - DATE 03-13-2023 - AMOUNT $0.00 The transcript notes "ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT" at the top. Does this $461.00 account balance mean I owe money or am I getting a refund? I'm really confused about what these transaction codes and numbers mean, especially with the withholding amount of -$607.00. How do I interpret this with my balance? Does the minus sign before the $607.00 mean this is a credit to my account? The transcript also shows information about Tax Period Ending: Dec. 31, 2022, but I'm not sure what to make of all this information.
Anyone with Chime get their Michigan state refund yet? My direct deposit date is showing for 2/10 but still nothing in my account. Starting to get worried since I usually get it early with Chime.
Getting ready to file my taxes and really need that refund. Anyone know if they started processing returns with WIC yet? Don't wanna file if they're still holding those back.
Looking at my transcript daily bc I need a new car asap. I see Code 150 and then further down theres an 8 digit number that says Cycle. Is that my cycle number? Never paid attention to this stuff before but really need this refund to come through.
I've noticed a trend on social media where lots of people are owing money to the IRS for their 2022 returns instead of getting refunds like usual. Even people who normally get refunds are owing thousands. Anyone else seeing this? What changed in 2022 that's causing this?
Check your withholdings peeps! I adjusted mine last April when I heard about the changes and im getting a small refund instead of owing
Natasha Kuznetsova
contact the taxpayer advocate service! they helped me understand my transcript and set up a payment plan that worked for my budget
0 coins
AstroAdventurer
good luck getting through to them. been trying for weeks π€‘
0 coins
Javier Mendoza
why is the tax system so complicated fr? shouldnt they just tell us what we owe instead of making us decode all this?
0 coins
Emma Wilson
fr fr the whole system needs an overhaul π―
0 coins