Help understanding IRS Transcript Codes 150, 766, 768 - What do they mean?

Let me break this down for you. IRS transcript codes can be confusing but here's what they mean: Code 150: This shows your tax return was filed and entered into the IRS system. It's basically your tax liability. Code 766: This is a credit to your account, usually representing things like earned income credit, child tax credit, or other credits you qualified for. Code 768: This is specifically for the Earned Income Credit (EIC) if you qualified. If you're trying to figure out where your refund is or what these codes mean for your specific situation, I'd strongly recommend checking out taxr.ai. It's this new AI tool that analyzes your transcript and tells you exactly what's happening with your refund and when to expect it. Way better than trying to decode these things yourself or waiting on hold with the IRS for hours. I've been doing this for years and honestly its the most straightforward way to understand whats going on with your return.

Those are actually common codes! Code 150 shows your tax return was filed and processed. 766 is credit for withheld taxes and 768 is earned income credit. These are normal codes and don't indicate any problems. Your refund timeline depends on other factors though.

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im in the same boat rn. these codes are like reading hieroglyphics 😫

If u see 766/768 but no 846 yet, ur probably still processing. Could take another 2-3 weeks tbh

Don't stress too much about individual codes. What matters is the sequence and dates. The IRS moves slower than a sloth eating molasses 🦥

Make sure your looking at 2024 account transcript not 2023. And check for any TC 570/971 codes those usually mean theres an issue that needs addressing.

Just went through this exact situation! Those codes are actually pretty standard - 150 means your return was accepted, 766 is for credits/withholdings, and 768 is earned income credit. The key thing to look for is code 846 which shows your actual refund date. If you don't see that yet, you're still in processing. Two months is frustrating but not unusual this time of year. The IRS is swamped right now. Keep checking your transcript weekly for updates - once you see that 846 code with a date, that's when you'll know your refund is coming! Hang in there! 💪

Those codes are actually pretty standard! Code 150 just means your return was processed and accepted into the system. Code 766 represents credits applied to your account (like withholdings or refundable credits), and 768 specifically shows the Earned Income Credit if you qualified for it. The fact that you're seeing these codes is actually a good sign - it means your return is in the system and being processed. What you really want to watch for is code 846, which will show your actual refund issue date. Until you see that, you're still in the processing queue. Two months does feel like forever, but unfortunately it's not uncommon right now. The IRS is dealing with a huge backlog. Keep checking your transcript weekly - once that 846 code appears with a date, you'll know exactly when to expect your refund. Hang in there! 🤞

Those codes are totally normal! 150 means your return was accepted and processed, 766 shows credits applied to your account (like tax withholdings), and 768 is the Earned Income Credit if you qualified. These are all good signs that your return is moving through the system. The waiting is brutal, I know! Two months feels like forever but it's unfortunately pretty typical right now with all the backlogs. The key code to watch for is 846 - that's when they actually issue your refund and you'll see the exact date. Keep checking your transcript weekly, and once you see that 846 code pop up, you'll know your refund is finally on its way! Don't lose hope - your return is definitely in the system and processing. 🤞