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Transaction Code 766 issued on your transcript indicates a credit to your account. It is generally a refund, but it can be a credit toward taxes in a prior year if you have those.

The IRS cycle code is an eight-digit number that you can find on your online tax transcript once your return has been posted to the IRS Master File. If you see a cycle code along with transaction code 150, you'll know that your tax return is being processed.

The negative amount represents that there is a refund due back to you so no need to worry.

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 806 acknowledges your electronic filing. Code 766 acknowledges you submitted your return. Code 768 posts earned income credit. Code 570 means additional account action pending.

You are able to see your cycle date via the free official IRS transcript, with this being an eight-digit number that follows the format of year-week of year-day of week. Therefore, it will look something like 20220602. The first four digits indicates the tax processing year, so this would be 2022.

If you are due to a refund or prior tax adjustment after the IRS review (code 290), you will see a code 291 ? Reduced or Removed prior tax assessed message, with the amount of reduced tax (refund) shown as a negative number. You may then see code 846 for when the refund is issued.

The code is composed of a 4-digit year, 2-digit month, and 2-digit day. For example, a code of 20220528 next to Code 150 would mean that your return was processed and sent to the IRS master file on .

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Code 806 is simply an acknowledgement that your electronically filed tax return was received. Code 766 indicates a credit to your account (generally, a refund ? but it can be a credit toward taxes in a prior year, if you have those) Code 768 indicates an earned income credit amount.