Need help decoding IRS transcript letters for 2020 tax wages info

Ugh, dealing with tax stuff is THE WORST. I had a similar issue last year. Have you tried calling the IRS directly? They might be able to explain those partial letters to you.

Those partial letters can be a real headache. I remember spending hours trying to figure them out. Have you checked the IRS website for a legend or key? Sometimes they have explanations for those codes.

I found a method to get someone on the phone. I used this site's (claimyr.com) calling tool that dials the phone menu, stays on hold, waits for a live agent to pick up, then sends the call to my phone. It does cost $20, but it works. Here's the link: https://www.claimyr.com

Have you tried using the IRS's online tools? They have a 'Where's My Refund' feature and some other resources that might help you understand your transcript better without having to decipher those cryptic letters.

As someone who used to work in tax preparation, I can tell you that those partial letters on your transcript are actually codes used by the IRS. Here's a breakdown of what some common ones might mean: • TC: Transaction Code • 150: Tax return filed • 806: Refund issued • 766: Credit to your account • 826: Interest paid to you If you're seeing other codes, you might want to google 'IRS transcript codes' for a more comprehensive list. Remember, these codes can give you a lot of info about what's happening with your account! Also, if you're having trouble understanding your specific situation, consider reaching out to a local tax professional or using the Taxpayer Advocate Service. They can often help interpret these things for free or at a low cost.

am i the only 1 who thinks its ridiculous we need a decoder ring to understand our own tax info? 🤡 irs needs to get with the times fr

Hey OP, just a heads up - make sure you're looking at the right transcript. There's a few different types (account transcript, return transcript, etc.) and they show different info. Might be worth double-checking you've got the one you need.

idk if this helps but i had issues with my 2020 taxes too. turns out it was bc of all the covid relief stuff messing up the system. might be worth asking about that specifically when u get ahold of someone