Waiting For $7,054 Tax Refund with $6,890 EIC - Return Processed 03/03 But No 846 Code Yet

I just checked my transcript for 2024 and I'm trying to understand the timing of my refund. My account transcript from 02-16-2025 shows my return was processed on March 3rd, 2025 (cycle 20250705). I can see all my credits have posted, but I'm still waiting on my refund to be issued. Here's what my transcript shows: ACCOUNT BALANCE: -$7,054.00 ACCRUED INTEREST: $0.00 AS OF: Mar. 03, 2025 ACCRUED PENALTY: $0.00 AS OF: Mar. 03, 2025 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): -$7,054.00 INFORMATION FROM THE RETURN OR AS ADJUSTED: EXEMPTIONS: 03 FILING STATUS: Head of Household ADJUSTED GROSS INCOME: $17,209.00 TAXABLE INCOME: $0.00 TAX PER RETURN: $2,154.00 SE TAXABLE INCOME TAXPAYER: $14,076.00 SE TAXABLE INCOME SPOUSE: $0.00 TOTAL SELF EMPLOYMENT TAX: $2,154.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) Apr. 15, 2025 PROCESSING DATE Mar 03, 2025 TRANSACTIONS: CODE EXPLANATION OF TRANSACTION CYCLE DATE AMOUNT 150 Tax return filed 20250705 03-03-2025 $2,154.00 75221-434-06402-5 806 W-2 or 1099 withholding 04-15-2025 -$112.00 960 Appointed representative 08-16-2024 $0.00 766 Credit to your account 04-15-2025 -$2,206.00 768 Earned income credit 04-15-2025 -$6,890.00 I'm specifically looking for the Earned Income Credit of $6,890 (code 768) and another credit of $2,206 (code 766), plus my W-2 withholding of $112 (code 806). All these have posted to my account. The transcript also shows my self-employment tax of $2,154.00, which matches the tax per return amount. My return was filed as Head of Household with 3 exemptions and an AGI of $17,209.00. My taxable income was $0.00, and my self-employment taxable income was $14,076.00. All the codes are there including the 150 tax return filed code with cycle date 20250705, but I'm not seeing the 846 refund issued code yet. The processing date is showing as March 3rd, 2025, and the response date of the transcript is 02-16-2025. Does this look good? Anyone know how long until I see the 846 deposit code? I'm anxious to get this $7,054 refund! My transcript shows the request date was 02-16-2025, so it's been a little while already.

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13 comments

Leo McDonald

Your transcript shows a total expected refund of $7,054, which is composed of several elements: an Earned Income Credit of $6,890 (code 768), a credit of $2,206 (code 766), and $112 in W-2 withholdings (code 806), offset by your self-employment tax of $2,154 (code 150). The processing date of March 3rd, 2025 (cycle 20250705) indicates your return has been accepted and processed by the IRS. Your filing status as Head of Household with an Adjusted Gross Income of $17,209 and self-employment income of $14,076 qualifies you for the substantial EIC amount. Currently, there's no code 846 (refund issued) on your transcript, which means your refund hasn't been scheduled for deposit yet. With EIC claims, the IRS typically takes 2-3 weeks after the processing date to issue refunds due to additional verification requirements under the PATH Act. Since there are no penalties or interest showing ($0.00), your return appears clean with no compliance issues that might delay processing.

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