Your IRS tax transcript can provide insight into the status of your tax return and more.
When you use the IRS Where’s My Refund tool to track the status of your tax return, it provides limited information about the status of your return. You may find that your tax return was received, it was approved, or your refund has already been sent. Once your refund is approved by the IRS, you’ll see the refund date. If your refund was mailed, be sure to give adequate time for your check to arrive through the U.S. Postal Service.
It typically takes 21 days for the IRS to receive and process electronic income tax returns, according to the IRS website. If you signed up for direct deposit, you should receive your refund fairly quickly once it’s been approved. If you mail your tax return, it can take 28 days for processing and additional time for the U.S. Treasury to send a paper check.
In rare cases, you’ll receive a “reference number 9001” through the IRS Where’s My Refund tool. This means the Taxpayer Identification Number (TIN) or Social Security Number (SSN) you provided on the Where’s My Refund website differed from the primary tax ID number or SSN on your tax refund. That might mean you used your spouse’s TIN or SSN as the primary filer, or that you mis-typed a digit. See more about decoding IRS Reference Number 9001 in this post.
Where’s My Refund Provides Limited Information
As you can tell, the Where’s My Refund tool only delivers limited information about the status of your tax return. For more in-depth information, you can order a copy of your tax transcript by mail or online.
Your tax transcript includes a copy of your personal income tax returns, tax account information, wage and income statements, and any letters from the IRS.
When you contact Alleviate Tax for tax debt relief, one of the first things we will do is order a copy of your IRS tax transcript to find out:
- Where your account stands at the present time
- If you have any past-due tax returns
- Total amount of your tax debt (including penalties and interest)
- Any collections letters sent to you.
You can also order a copy of your tax transcript for free at any time to get more details on the status of your tax return.
How to Order a Tax Transcript
Order your tax transcript online by logging into your individual online IRS account. Your account transcripts will be available within two to three weeks after you submit your tax return if you filed electronically, in most cases . If you mailed your tax return, you’ll need to wait six to eight weeks to access your transcript if you are receiving a refund or had no balance due.
If you have a balance due on your income taxes and you paid in full after you submitted your return electronically, you’ll need to wait three to four weeks after paying your tax bill in full to request a transcript. If you filed on paper and owed money, whether or not you paid your tax bill at the same time as you filed your paper return, you can request a transcript in mid-to-late June (if you filed on time by April 15, 2024). Likewise if you filed on paper and still have not paid your past-due taxes.
If you still owe tax debt and filed electronically, you should be able to access your transcript by late May of that tax year.
Understanding IRS Codes on Tax Transcripts
Some of the information on your tax transcript should be straightforward, such as taxes paid, taxes owed, or refunds received. But the IRS also uses codes as shorthand to describe certain tax situations. Here are some common IRS codes you’ll find on transcripts and what they mean.
IRS Code 570
Just like IRS Code 9001 is not a bad thing, Tax Code 570 just indicates a delay with your tax return. It does not automatically indicate an audit or an error on your return. According to the Taxpayer Advocate Service, Code 570 in your tax transcript means the IRS is in the process of requesting additional information.
This might involve a identify verification requests, such as your address, tax ID number, or other personal information to verify that it was really you who filed the tax return. You might receive this code if the IRS is concerned about identity theft on your account.
There’s no need to call the IRS if you see this code on your transcript. Just wait for a letter in the mail.
IRS Code 971
If you check your revised transcript after seeing IRS Code 570, you might notice the code has changed to IRS Code 971. That code means the IRS has sent a letter or notice requesting additional information. Keep an eye out in your mail for an official letter from the IRS. This letter most likely won’t be sent by certified mail, signature required, so you will have to keep an eye out for an envelope from the IRS in your regular postal delivery.
IRS Code 806: Credit for Withheld Taxes and Excess FICA
IRS Code 806 appears on your tax transcript under “Transactions.” It will be a positive number or a negative number. If IRS Code 806 shows a negative number, that’s a good thing. It means you will receive a tax refund because you overpaid on your withholding taxes throughout the year. If you’re an independent contractor, self-employed, you may have overpaid your quarterly estimated taxes. Either way, you can expect a tax refund, although your refund will depend on other tax credits and deductions. The number alongside Code 806 is not the amount of your expected refund.
If IRS Code 806 is positive, it means you owe taxes to the federal government. Again, that number does not indicate your total tax debt, which can be reduced by tax credits and deductions.
IRS Code 846
IRS Code 846 is the best news you can receive on your tax transcript for the current year. It means your tax return has been processed and the IRS has issued your refund. If you signed up for direct deposit, you should receive your money within three weeks.
Final Note
Understanding the various codes on your tax transcript can help you better understand the status of your tax return. It’s easy to obtain a copy of your tax records online. If you have trouble understanding the various codes, reach out to a tax professional who can help.
FAQs
What is a tax transcript?
Your IRS tax transcript is a tax record of your account for this tax year, the prior year, and two years before that.
What does code 570 and 971 on a tax transcript mean?
If you see code 570 or code 971 on your tax transcript, it means that the IRS is looking for more information to verify your identity. Code 570 means your return has been delayed. When you see Code 9171, it means the IRS sent you a letter in the mail to verify personal information on your tax return.
