01/28/2024
IRS is processing returns.
Transcripts are updating!
If your transcript looks like this and you are on PATH (Have EIC/ACTC) ...You are completely done, you are just waiting on the 846 Code with your refund date. (Won't be until AFTER Feb 15th)
✳️All the dates I crossed off MEAN ABSOLUTELY NOTHING
✳️The 4/15/2024 date next to the credits is just the last day of this tax season. They will have this date every year.
✳️The purple (last 2 numbers of your cycle code) is your cycle.
(01, 02, 03, 04 are all daily codes)
(05 is a weekly code and ONLY updates once a week)
🔵01- Transcripts update Sat WMR Sun
🔵02- Transcripts update Tue WMR Wed
🔵03- Transcripts update Wed WMR Thur
🔵04- Transcripts update Sat WMR Sun
🔵05- Transcripts update Sat WMR Sun
On Transcripts a negative -$### number equals positive and a positive number equals negative.
To calculate your refund.
ADD CODES
806
+
766
+
768
______
$×××× Total
Now minus that Total from Code 150
Total
-
150
_______
Refund
Code 150 is your tax liability. If this number is $0 you did NOT need any federal withholding
Code 806 is the total of all Federal Witholding.
🟢🟢🟢🟢🟢🟢🟢🟢🟢🟢🟢
If your transcript is showing NO RETURN FILED.
It means one of 3 things.
🔴1. They just have not started processing you yet.
🔴2. You need to ID Verify
🔴3. You were resquenced
