What Does Code 898 Mean On Irs Transcript (2024)

1. I filed an injured spouse claim. My transcript says first code 898 ...

  • Jun 6, 2019 · So I filed an injured spouse claim. My transcript says refund issued on March 7th. Then it says code 898 "refund applied to non irs debt". Dated ...

  • Husband owes child support but had no income because he is disabled. So I filed an injured spouse claim. My transcript says refund issued on March 7th. Then it says code 898 "refund applied to non irs debt". Dated 3/19/2018... which isn' here yet. Then it says code 766 "removed refund applied to non...

2. What is code 898? · Where's My Refund? - Igotmyrefund.com

  • More results from igotmyrefund.com

  • This ship doesn't sail for free! If you find our content useful and you want to encourage the development of more free resources, you can do it by donating. Countless hours go into support and development of this site and we want to give you the best site to use. We are fueled by excessive amounts of caffeine and karma for helping bring users together to share information. Even small donations are tremendous. Contributions are used for site development.

3. IRS Transaction Codes – THS IRS Transcript Tools - Tax Help Software

  • BMF: Valid on Form 1120. 898, Refund applied to non-IRS debt: (amount), FMS TOP Offset ... Does not post to Master File. 995, Difference in Validity Status/ ...

4. Transaction Codes on IRS Account Transcript - Igotmyrefund.com

  • IRS Transcript Code 898 FMS TOP Offset is a code that means that a refund will be offset and used to pay other non-IRS tax debt.

5. What Is The 846 IRS Code? 2023 Updates - Ideal Tax

6. IRS Code 898: What Does It Mean on IRS Transcript? - Money Done Right

  • Jun 16, 2023 · The code suggests that the Bureau of the Fiscal Service (BFS) has offset a portion or the entire refund to settle a delinquent debt.

  • Transaction code 898 appears on a tax account transcript whenever the IRS and BFS offset a refund. We'll show you what this code means on your IRS transcript.

7. What Is Code 766 on an IRS Transcript? - Fit Small Business

  • May 13, 2024 · When transcript code (TC) 766 appears on an IRS transcript, it generally means a refundable credit has been applied to a taxpayer's account.

  • IRS tax code 766 represents a refundable credit adjustment to a taxpayer’s account.

8. Help!!!!! - TurboTax Support - Intuit

  • Feb 19, 2021 · Because I had an offset last year 2019 and on my transcripts you can see the 898 code under refund issued. But this year 2020 I see the 846 code ...

  • Can anyone who called the offset line and heard they have an offset see their transcripts. Because I had an offset last year 2019 and on my transcripts you can see the 898 code under refund issued. But this year 2020 I see the 846 code refund issued with the date of 2/24. And nothing else under it. ...

9. So I got my 846 code a few days ago. Today I checked my transcripts ...

  • Feb 20, 2022 · So I got my 846 code a few days ago. Today I checked my transcripts again and now it has the 898 code (which I assume is for state taxes that I ...

  • Yes, if you have extra money after the offsets. 😊

10. IRS Transcript Codes And WMR Reference Codes

  • Feb 16, 2024 · Do you mean 151? That's a tax return offset – meaning your refund will be garnished. -1.

  • Here's what the IRS Where's My Refund reference codes mean when checking WMR online, or calling the IRS, or using the Refund Status tool.

11. Individual Income Tax- FAQ - SC Department of Revenue

  • No. Report the amount shown on the 1099-G/INT on the state tax refund line of your federal return. Any money paid on an amended return would be reported as an ...

  • Copyright © South Carolina Department of Revenue All rights reserved

12. Refund Reduced For Past Due Debt Obligation – Understanding Tax ...

  • Feb 17, 2024 · On your tax transcript you will see the amounts reflected against this transaction code (TC) 898. It will be listed as a refund applied to non ...

  • Many tax filers experience a feeling of joy when they see the refund approved and sent status on WMR/IRS2Go or code 846 (refund issued) on their tax transcript. However this turns into sadness and frustration when they see that the additional status message about a past due obligation indicating their estimated refund on their transcript

13. What is code 846 for taxes? IRS codes on your transcripts, explained

  • Missing: 898 | Show results with:898

  • The IRS uses codes to refer to steps the agency has taken on taxpayer accounts. 826, 846 and 570 are related to overpayments and credit holds.

What Does Code 898 Mean On Irs Transcript (2024)

FAQs

What Does Code 898 Mean On Irs Transcript? ›

Then it says code 898 "refund applied to non irs debt".

What is the IRS Code 898? ›

§898, Taxable Year of Certain Foreign Corporations

For purposes of this title, the taxable year of any specified foreign corporation shall be the required year determined under subsection (c). With respect to which the ownership requirements of paragraph (2) are met.

How do I know if the IRS will offset my refund? ›

To determine whether an offset will occur on a debt owed (other than federal tax), contact BFS's TOP call center at 800-304-3107 (800-877-8339 for TTY/TDD help).

How long can the IRS hold your refund for review? ›

If the IRS is reviewing your return, the review process could take anywhere from 45 to 180 days, depending on the number and types of issues the IRS is reviewing.

What is the refund code on transcript? ›

Tax transcript code 846 Refund Issued on your tax transcript means that the IRS has issued you a refund on your tax return. Tax Transcript Code 846 Refund Issued means that ...

What is Section 898 tax? ›

IRC § 898 requires certain controlled foreign corporations (CFCs) to adopt the same tax year as their majority U.S. shareholder. This provision was enacted to reduce the opportunity for income deferral.

What do the codes mean on a tax transcript? ›

Let's start with transaction codes, the three-digit codes that signify an Internal Revenue Service action related to your taxes, such as a credit or debit. The codes help create a history of your account. An “R” following a transaction code shows that the transaction has been reversed.

What is the IRS offset code? ›

What Is a Refund Offset? Under Internal Revenue Code IRC 6402(a), the IRS may apply a taxpayer's overpayment to an outstanding federal tax debt.

Can an offset be reversed? ›

The IRS may, for example, choose not to offset an overpayment against an outstanding federal tax refund because of undue hardship. However, the IRS's authority not to offset generally disappears once the offset has been done—it cannot reverse an offset.

How do I know if the IRS took money from my refund? ›

To find out if you may have an offset or if you have questions about an offset, contact the agency to which you owe the debt. We also may have changed your refund amount because we made changes to your tax return. You'll get a notice explaining the changes.

What happens when your refund is under review? ›

The IRS will attempt to verify whatever information triggered the review. In the meantime, you won't be issued a refund if you're expecting one.

What's the longest the IRS can take to refund? ›

If you file a complete and accurate paper tax return, your refund should be issued in about six to eight weeks from the date IRS receives your return. If you file your return electronically, your refund should be issued in less than three weeks, even faster when you choose direct deposit.

What is the maximum time for refund processing? ›

ITR processing time: Tax experts advise that usually, it takes an average of 15-45 days from the date of e-verification of the ITR for income tax returns to be processed. As per the regulation, income tax returns must be processed within nine months of the end of the fiscal year after you file them.

What does code 807 mean on an IRS transcript? ›

Transaction code 807 indicates that the IRS reversed the credit for withheld taxes or excess FICA. Transaction code 765 indicates that the IRS reversed the earned income credit. 7. Customarily, reversals made pursuant to transaction codes 807 and 765 indicate that the original postings were made in error.

What is the IRS Code 899? ›

IRS Code 899

While Code 898 will display the full amount of the refund that is applied towards outstanding debt, Code 899 displays the portion of the refund that is greater than the debt, and thus the amount that the taxpayer will receive as a refund.

What does code 977 mean on an IRS transcript? ›

Tax code 977 on your online transcript typically indicates that your tax return is being reviewed or examined by the IRS. It suggests that there may be some discrepancies, inconsistencies, or areas of concern identified by the IRS that require further examination before your tax return can be processed fully.

How do I stop my refund from being offset? ›

Prevent an offset

Pay the full amount listed on the Intent to Offset Federal Payments (FTB 1102). Use the payment coupon included in the letter when you send your check or money order. To make a payment online, visit Payment options .

What is the top offset refund? ›

The Treasury Offset Program (TOP) collects past-due (delinquent) debts (for example, child support payments) that people owe to state and federal agencies. TOP matches people and businesses who owe delinquent debts with money that federal agencies are paying (for example, a tax refund).

What does a refund applied to non-IRS debt mean? ›

Your tax return may show you're due a refund from the IRS. However, if you owe a federal tax debt from a prior tax year, or a debt to another federal agency, or certain debts under state law, the IRS may keep (offset) some or all your tax refund to pay your debt.

What does notice of tax refund offset mean? ›

If that is the case, you should have received a letter telling you this would happen. The law says that Treasury may withhold money to satisfy an overdue (delinquent) debt. The official term for withholding money from a payment is "offset" or "administrative offset."

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Jonah Leffler

Last Updated:

Views: 6126

Rating: 4.4 / 5 (65 voted)

Reviews: 88% of readers found this page helpful

Author information

Name: Jonah Leffler

Birthday: 1997-10-27

Address: 8987 Kieth Ports, Luettgenland, CT 54657-9808

Phone: +2611128251586

Job: Mining Supervisor

Hobby: Worldbuilding, Electronics, Amateur radio, Skiing, Cycling, Jogging, Taxidermy

Introduction: My name is Jonah Leffler, I am a determined, faithful, outstanding, inexpensive, cheerful, determined, smiling person who loves writing and wants to share my knowledge and understanding with you.