Does Negative $8,191 IRS Transcript Balance Mean Refund Despite $2,027 Self-Employment Tax? (Head of Household with $17,448 AGI)

Looking at my transcript and I'm confused about what I'm seeing. The account balance shows -$8,191.00 but I see self employment tax of $2,027.00. I'm trying to figure out if I'm owed money or if I owe the IRS. Here's what my transcript shows: ACCOUNT BALANCE: -$8,191.00 ACCRUED INTEREST: $0.00 AS OF: Feb. 10, 2025 ACCRUED PENALTY: $0.00 AS OF: Feb. 10, 2025 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): -$8,191.00 ** INFORMATION FROM THE RETURN OR AS ADJUSTED ** EXEMPTIONS: 05 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: $17,448.00 TAXABLE INCOME: $0.00 TAX PER RETURN: $2,027.00 SE TAXABLE INCOME TAXPAYER: $13,246.00 SE TAXABLE INCOME SPOUSE: $0.00 TOTAL SELF EMPLOYMENT TAX: $2,027.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER): Apr. 15, 2025 PROCESSING DATE: Feb. 17, 2025 TRANSACTIONS: CODE | EXPLANATION OF TRANSACTION | CYCLE | DATE | AMOUNT 150 | Tax return filed | 20250503 | 02-17-2025 | $2,027.00 70221-415-00521-5 806 | W-2 or 1099 withholding | 04-15-2025 | -$146.00 766 | Credit to your account | 04-15-2025 | -$2,242.00 I filed as Head of Household with 5 exemptions, and my adjusted gross income was $17,448.00 with taxable income of $0.00. I see my self-employment taxable income shows as $13,246.00 for me (none for spouse), resulting in a total self-employment tax of $2,027.00. Looking at the transactions section, there was a tax return filed for $2,027.00, W-2 or 1099 withholding of -$146.00, and a credit to my account of -$2,242.00. The account balance plus accruals shows -$8,191.00 (as of Feb. 10, 2025), with $0.00 in accrued interest and penalties. Can someone help me understand if I owe money or if I'm getting a refund? Does the negative balance mean I'm getting money back? And if so, why is it so much higher than what appears to be my withholding plus credits? I'm really confused by these numbers and what they all mean together.

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Chad Winthrope

Looking at your transcript details, you have a refund coming - the negative account balance of -$8,191.00 represents money the IRS owes you, not what you owe them. Let me break down the key elements: Your tax situation shows: - Self-employment income of $13,246.00, generating a self-employment tax of $2,027.00 - Adjusted gross income of $17,448.00, but $0.00 taxable income due to your Head of Household status and 5 exemptions - Tax withholdings of $146.00 from W-2/1099 income - A credit of $2,242.00 applied to your account The transaction codes provide additional context: - Code 150: Initial tax return filing showing the $2,027.00 self-employment tax - Code 806: Your withholding credit of $146.00 - Code 766: Additional tax credit of $2,242.00 With zero accrued interest and penalties as of February 10, 2025, and a processing date of February 17, 2025, your refund should be moving through the system. The return due date listed as April 15, 2025, indicates this is for the current tax year.

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- 1M