Does Negative $12,430 Balance on IRS Transcript Mean Refund Coming? (Withholding + Credits + EIC)

Can someone help me understand my transcript? I'm looking at my IRS account transcript and see several negative numbers but I'm not sure if that's good or bad. The main ACCOUNT BALANCE shows -12,430.00, with no accrued interest or penalties (both show 0.00 as of Feb. 17, 2025). Looking at my transcript, it states that "ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT" at the top. My ACCOUNT BALANCE is -12,430.00 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): -12,430.00 The transcript also shows my return information: EXEMPTIONS: 05 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: 34,495.00 TAXABLE INCOME: 12,595.00 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 In the TRANSACTIONS section, I see: CODE 150 - EXPLANATION OF TRANSACTION: Tax return filed CYCLE: 20250602 DATE: 02-24-2025 AMOUNT: $0.00 76221-422-00039-5 CODE 806 - W-2 or 1099 withholding DATE: 04-15-2025 AMOUNT: -$2,277.00 CODE 766 - Credit to your account DATE: 04-15-2025 AMOUNT: -$4,799.00 CODE 768 - Earned income credit DATE: 04-15-2025 AMOUNT: -$5,354.00 The document says "This Product Contains Sensitive Taxpayer Data" at the bottom. These three negative numbers (-$2,277.00, -$4,799.00, and -$5,354.00) add up to the -12,430.00 balance. Is this my refund? When should I expect it? I understand the transcript says that minus signs signify credit amounts, but I just want to make sure I'm understanding this correctly.

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NebulaNova

The -$12,430.00 account balance shown on your transcript represents your total refund amount, which is derived from three distinct credit sources: $2,277 in W-2/1099 tax withholdings, $4,799 in general tax credits, and $5,354 in earned income credit. These credits appear as negative numbers because they represent money owed to you by the IRS. Your transcript indicates a clean return processing on February 24, 2025, with no penalties or accrued interest. The other key details support your refund eligibility - you filed as Head of Household with 5 exemptions, had an adjusted gross income of $34,495, and your tax per return is $0. With no self-employment tax obligations, your return is relatively straightforward. The transaction codes provide additional verification: - Code 150: Confirms your tax return filing - Code 806: Records your withholding credits - Code 766: Shows additional tax credits - Code 768: Documents your earned income credit Since this is a 2024 return processed in 2025 with no apparent issues, you should expect your refund within 21 days of the February 24th processing date, assuming no additional reviews are triggered.

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- 1M