Irs code 846

General
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irs code 846

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What is IRS Code 846?

Answer: The IRS Code 846 signifies that a refund has been issued by the IRS. It is a transaction code that you’ll typically find on your IRS Tax Account Transcript and indicates that your refund is on its way. Here’s a detailed breakdown of what IRS Code 846 entails and what it means for taxpayers:

Understanding IRS Code 846

**1. What is IRS Code 846?

  • IRS Code 846 is used by the IRS to indicate a refund has been approved and issued to the taxpayer. When you see this code on your transcript, it means that the IRS has processed your return and has approved your refund.

**2. Where do you find IRS Code 846?

  • You can find Code 846 on your IRS Tax Account Transcript. This document summarizes your tax account transactions and is accessible through the IRS’s online services.

**3. When will I see the refund?

  • Typically, once Code 846 appears on your account transcript, your refund should be deposited within a few days to a week. The exact timing can vary depending on bank processing times.

Steps to Check Your Refund Status:

  1. Accessing Your IRS Account Transcript:

    • Go to the IRS website.
    • Navigate to the “Get Transcript” page.
    • Log in or create an account.
    • Request your “Return Transcript” for the relevant tax year.

  2. Interpreting Your Transcript:

    • Look for the transaction code 846.
    • Note the date associated with the code; this indicates when the refund was issued.

  3. Monitoring Your Bank Account:

    • Keep an eye on your bank account to see when the refund is deposited.
    • If you opted for a paper check, allow additional time for mail delivery.

Common Questions about IRS Code 846:

  1. What if I see Code 846 but haven’t received my refund?

    • If you’ve seen Code 846 but haven’t received your refund, double-check the dates. If the refund appears to be delayed, contact your bank or the IRS for further information.

  2. Can there be other codes along with 846?

    • Yes, your transcript might contain different codes for various transactions and activities. However, Code 846 specifically deals with refunds.

  3. Is there an amount listed with Code 846?

    • Often, the code will be accompanied by an amount, which represents the refund amount.

Final Answer: IRS Code 846 on your transcript means that your refund has been processed and issued. Keep an eye on your bank account or mailbox for your refund, and allow a few days for it to be received.