Understanding IRS Transcript Codes 150, 766, 768: Will I Get $10,143 Refund with Earned Income Credit?

Your transcript shows several key tax transactions for the 2024 tax year. The CMCOTMCTT TAA of $1,345.00 represents your Total Tax Assessment Amount after adjustments. Looking at the specific transactions: - Your filed tax return (Code 150) shows a tax liability of $1,545.00 processed on February 24, 2025 - You have two credits reducing your tax obligation: - A $2,313.00 credit (Code 766) applied on April 15, 2025 - An Earned Income Credit of $7,830.00 (Code 768) also applied on April 15, 2025 The cycle number 76211-427-27654-5 and cycle date 20250605 indicate your return is being processed in normal sequence. Your return was received by the standard filing deadline of April 15, 2025. Based on these numbers, you're entitled to a significant refund, as your combined credits ($10,143) substantially exceed your tax liability ($1,545). The processing date of February 24, 2025, suggests the IRS has already begun working on your return well ahead of the filing deadline.

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lol welcome to the IRS code party 🎉 these transcripts might as well be written in ancient hieroglyphics sometimes

looks like ur getting a nice refund! the 768 is the earned income credit, thats a good one to qualify for

Quick tip: keep checking your transcript daily. Sometimes codes update overnight and give you new info

bruh why they gotta make everything so complicated with all these codes n dates? 🤡 irs needs to get with the times fr