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Generally the IRS says 90% of refunds are processed within 21 days, which is when you should also expect to see code 846 on your transcript. But given ongoing tax return processing delays over the last two years and depending on your IRS cycle code, it could take 4 to 6 weeks for returns to complete processing.

The negative amount represents that there is a refund due back to you so no need to worry. The Code 846 will indicate that the refund has actually been issued to you and should be on its way to you as well. You should see an update with that code very soon that will actually release your refund payment.

Yellow Code 768 (-$4,290): Earned Income Tax Credit (EITC) amount you will be getting via refund payment. The ACTC and EITC are subject PATH HOLD, even if processed, and will be paid from mid to late February.

An IRS Code 766 on your tax transcript is good news. Code 766 means that you have a credit on your account, which might be the result of a refund, an overpayment from a previous year, or a credit from the current year's return. In any case, it means that your tax liability has been reduced.

Code 846 indicates that a refund has been issued by direct deposit or that a check has been printed for the refund.

A Code 150 on your transcript means that the IRS has finished processing your return and determined your total tax due for the year. The IRS has also applied any credits on your account (such as federal tax withholding from your paychecks or estimated tax payments) to calculate your final balance due.

This TC 150, when posted to the Entity Transaction Section, indicates the Master File Entity was created from the posting of return. In simple terms, it's the acknowledgment of a tax return filed by the tax filer.