Does Negative $6,726 IRS Account Balance Mean Refund Due? - MFJ with 4 Exemptions, $47,410 AGI

The negative account balance of -$6,726.00 shown on your transcript indicates a credit in your favor - meaning the IRS owes you this amount. This is supported by several key details in your transcript: Your financial snapshot shows: - AGI of $47,410.00 - Taxable income of $18,210.00 - Zero tax liability per return - No self-employment income or tax for either spouse - Married filing status with 4 exemptions What's particularly notable is that despite having taxable income of $18,210.00, your tax per return is $0.00, suggesting you likely qualified for tax credits that exceeded any tax liability. The absence of any accrued interest or penalties further confirms this is a straightforward credit balance rather than a complex tax issue. The "Account Balance Plus Accruals" matching the base account balance (-$6,726.00) indicates this amount is current and not accumulating additional interest or adjustments. If this balance resulted from a refundable tax credit or overpayment, you should be eligible to receive these funds from the IRS.

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in the same boat! mine shows -8k but its been sitting there for 3 months with no movement 😤

the IRS is such a mess this year smh. Your probably gonna be waiting a while unless theres some hold you dont know about

Call the tax advocate service! They helped me get my negative balance sorted out in like 2 weeks

did you check if you have any freezes or holds? sometimes they dont show up obvious on the transcript but theyre there

A negative balance definitely means the IRS owes you money! With your tax liability at $0 and that negative balance, you likely received refundable credits like the Child Tax Credit or Earned Income Credit that created the overpayment. The delay could be due to identity verification, income verification, or just processing backlogs. I'd recommend calling the IRS refund hotline at 1-800-829-1954 to check if there are any issues holding up your refund. You can also try calling early morning (7-8am) for better chances of getting through!