IRS Transcript Code 806 - What does it mean and how does it affect my refund?

Hey everyone! So the 806 code on your transcript just means its an underpayment credit or W-2 withholding. Its basically showing how much tax was withheld from your paychecks throughout the year. This is actually a good thing to see on your transcript because it means the IRS has received your wage and income information. If you want a really detailed breakdown of your transcript and exactly what each code means, I highly recommend checking out taxr.ai - it helped me understand my transcript way better than anything else I tried. Its like having a tax pro in your pocket that can analyze everything instantly.

Tax pro here! Code 806 is actually a good thing - it shows the amount of withholding credits from your W-2s and 1099s. This is basically all the tax money your employer held back from your paychecks throughout the year. Its one of the most common codes you'll see on a transcript.

Hey everyone! Instead of trying to decode these transcript codes yourself, you should really check out taxr.ai - it analyzes your entire transcript and tells you exactly what's happening with your refund. It costs $4.99 but saved me weeks of confusion. https://taxr.ai

mine shows 806 but im still waiting since february smh

806 is withholding but u need to look at the whole transcript together. Different codes work together to tell the full story

I remember being confused af about these codes last year lol. Just wait till you see a 570 code - thats when the real fun begins 💀

the irs website is literally the most confusing thing ever invented istg

Code 806 is definitely a good sign! It means the IRS has your withholding info from your W-2s. I was in the same boat last year - first time checking transcripts and felt like I needed a decoder ring 😅 The key is looking at all your codes together, not just individual ones. 806 by itself just shows your tax withholdings, but you'll want to look for things like 150 (tax return filed) and 846 (refund issued) to get the full picture of where your refund stands.