The code 766 means that you have a credit in your account, which may be the result of a refund, an overpayment from a previous year, or a credit from the current year's statement. In any case, it means that your tax liability has been reduced. The 766 transaction code issued in your academic record indicates that a credit has been made to your account. This is usually a refund, but it can be a credit to pay taxes from a previous year, if you have them.
The transaction code 766 that appears on your academic record indicates that you have received a credit to your account. If you have taxes from a previous year, it's almost always a refund, but it can also be a credit for those taxes, if you have them. Please note that the transaction code 766 that appears on your tax file indicates that a credit has been made to your account. This is usually a refund, but in some cases, code 766 can be a credit to pay taxes from a previous year, if you have one.
If you see IRS code 846 (overpayment refund) in your academic record, it means a refund has been issued. Another reason you might include code 766 in your IRS tax file is because your compensation for the maximum maximum amount has been voided. I have an 810 code for the 766, which means I also had to go to the IRS and verify my identity. As you may have seen before, one of the main reasons to include code 766 in your IRS tax file is the cancellation of the TOP compensation.
According to section 8A of the Internal Revenue Service Master Records Code, there are two (meanings) for tax code 766. When a tax code 898, TOP Offset, with the same compensation tracking number, is entered, the previously published tax code 898, TOP Offset, will be canceled.