The codes found on the taxpayer's transcript will indicate the series of actions taken when the return was received and processed. It may also reflect the fact that actions were overturned while the return was being processed. In most cases, the codes should ultimately mean nothing to the taxpayer. The IRS cyclical code is an eight-digit number that you can find on your online tax transcript once your return has been published in the IRS Master File.
If you see a cyclical code along with transaction code 150, you'll know that your tax return is being processed. You can use your cycle code along with the transaction codes in your academic record to determine when you'll receive your tax refund. As a tax return is processed, transaction codes are added to it to indicate the changes. These transaction codes have three digits.
They are used to identify a transaction that is being processed and to maintain a history of the actions recorded in the taxpayer's account in the master file. For example, the transaction code (TC) 014 indicates a change in the taxpayer's address from previous years. This transcript provides you with an IRS cycle code that you can use to determine when you will receive your tax refund. Other codes may be of some importance if the IRS has adjusted your return or initiated an examination.
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