Understanding My $9,600 Refund: EIC of $5,584 and Other Credits on 2025 Transcript - When Will I Receive It?

Can someone help me understand my tax transcript? I'm seeing a balance of -$9,600.00 but I'm confused about all these codes and numbers. My transcript shows I'm Married Filing Joint with an Adjusted Gross Income of $36,163.00 and taxable income of $6,963.00. According to my transcript: CAND & DES 0 BERN 15770 ANY MINUS SIGN SHOWN BELOW SIGNIFIES A CREDIT AMOUNT ACCOUNT BALANCE -$9,600.00 ACCRUED INTEREST: $0.00 AS OF: Feb. 24, 2025 ACCRUED PENALTY: $0.00 AS OF: Feb. 24, 2025 ACCOUNT BALANCE PLUS ACCRUALS (this is not a payoff amount): -$9,600.00 ** INFORMATION FROM THE RETURN OR AS ADJUSTED ** EXEMPTIONS: 04 FILING STATUS: Married Filing Joint ADJUSTED GROSS INCOME: $36,163.00 TAXABLE INCOME: $6,963.00 TAX PER RETURN: $0.00 SE TAXABLE INCOME TAXPAYER: $0.00 SE TAXABLE INCOME SPOUSE: $0.00 TOTAL SELF EMPLOYMENT TAX: $0.00 RETURN DUE DATE OR RETURN RECEIVED DATE (WHICHEVER IS LATER) Apr. 15, 2025 PROCESSING DATE Feb. 24, 2025 I see several different credits and codes: TRANSACTIONS CODE EXPLANATION OF TRANSACTION | CYCLE | DATE | AMOUNT 150 Tax return filed | 20250605 | 02-24-2025 | $0.00 76221-427-43150-5 806 W-2 or 1099 withholding | | 04-15-2025 | -$714.00 766 Credit to your account | | 04-15-2025 | -$3,302.00 768 Earned income credit | | 04-15-2025 | -$5,584.00 This Product Contains Sensitive Taxpayer Data The account balance shows -$9,600.00 with no accrued interest or penalties as of Feb. 24, 2025. This is my first time filing with credits (especially the earned income credit), and I want to make sure everything looks correct. My processing date shows as Feb. 24, 2025 with a return due date of Apr. 15, 2025. When should I expect my refund with these codes and dates? Really want to make sure I'm understanding all of this correctly since it's my first time dealing with credits on my taxes. I'm especially curious about that cycle code "20250605" listed next to my tax return filed entry and what that means for my refund timing.

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13 comments

Oliver Becker

Your tax transcript shows a total refund of $9,600, which is composed of three main elements: $714 in tax withholdings from your W-2/1099 (Code 806), $3,302 in tax credits (Code 766, likely including child tax credits), and $5,584 in Earned Income Credit (Code 768). The negative signs on these amounts indicate money the IRS owes you, not what you owe them. Your return was processed on February 24, 2025, with a filing status of Married Filing Joint and 4 exemptions claimed. Your Adjusted Gross Income of $36,163 and relatively low taxable income of $6,963 explain why you qualify for the Earned Income Credit, which is designed to benefit working people with moderate to low income. There are no self-employment taxes showing ($0.00 for both taxpayer and spouse), and importantly, no penalties or interest have accrued. Since your return has already been processed (Code 150) and all credits have been applied, you should expect your refund within 21 days of the February 24 processing date, assuming no additional review is needed.

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