If you need to know what an IRS transaction code means on a transcript, start with the IRS's own code lookup (Master File Codes, Section 8) and use this guide as the navigational layer on top of it. A transcript code is a label for a posting on the account. It tells you what kind of entry was made. It rarely tells you everything you need to decide what happens next — and the most common mistake is reading a code as if it were a conclusion.
This is a lookup dictionary. Once you identify the transaction, move to the dedicated guide for that code rather than trying to resolve the case from the transcript alone.
Four groups of codes, four different questions
Assessments and adjustments. TC150 records the tax assessed from an original return. It is the assessment posting, not your current balance. TC290 can be an additional assessment or a zero-dollar entry. TC806 captures withholding credited to the account along with certain excess FICA credits — it is not a refund issuance. These answer "what was assessed or credited," which is a different question from "what do you owe today."
Credits. TC766 is a generated refundable credit allowance. It is not automatically an Earned Income Credit entry. TC768 is the generated earned income credit posting. If TC768 appears with a reversal, that is a specific situation worth reading in full: see IRS Code 768: Earned Income Credit on a Transcript. TC806's withholding meaning is covered separately in IRS Code 806, and TC766 in IRS Code 766.
Payment holds and delivery. TC846 is a refund issued transaction. It records the issuance, not proof the funds reached a bank account. TC810 is a refund, offset or credit-elect freeze. A reversal of a freeze does not promise a payment date. TC570 is an additional-liability-pending hold.
Case status and administrative markers. TC420 indicates an Examination or Appeals assignment — not a finding of fraud and not an audit notice on its own; read IRS Code 420: Examination Indicator and Next Checks. TC960 adds or updates a CAF/RAF indicator, which calls for checking the relevant authorization records; see IRS Code 960: CAF Authorization Indicator Explained. TC971 is miscellaneous and depends on the accompanying action code, so it may or may not point to a notice.
Decision table: what to do after you identify the code
| Code | What it records | What it does not establish | Route to |
|---|---|---|---|
| TC150 | Tax assessed on an original return | Current balance due | IRS Code 150 |
| TC290 | Additional assessment or zero-dollar entry | A clean bill of health | IRS Code 290 |
| TC806 | Withholding and certain excess FICA credits | A refund issuance | IRS Code 806 |
| TC766 | Generated refundable credit allowance | That it is an EITC posting | IRS Code 766 |
| TC768 | Generated earned income credit | Refund timing or final eligibility | IRS Code 768 |
| TC846 | Refund issued | Bank receipt of funds | IRS Code 846 |
| TC810 | Refund/offset/credit freeze | A payment date after reversal | IRS Code 810 |
| TC570 | Additional-liability-pending hold | Resolution timing | IRS Code 570 |
| TC420 | Examination or Appeals assignment | Fraud or a determination | IRS Code 420 |
| TC960 | CAF/RAF indicator added or updated | Every permission on file | IRS Code 960 |
| TC971 | Miscellaneous entry, action-code dependent | A specific notice type | IRS Code 971 |
Dates and amounts require the complete account and the actual IRS notices. No code implies a release schedule.
A short lookup checklist
- [ ] Confirm you are reading an account transcript, not only a return transcript — the two answer different questions (see Tax Account vs. Tax Return Transcript).
- [ ] Note the code, the tax period, and the amount exactly as printed.
- [ ] Read the action code or explanation line if one appears; TC971 in particular depends on it.
- [ ] Check whether a later line reverses or adjusts the entry before drawing a conclusion.
- [ ] Separate assessment codes from credit codes from delivery codes in your notes.
- [ ] Pull the Record of Account transcript when a single posting is not enough context (Record of Account Transcript).
- [ ] Match any authority question to the right form guide, not to a code — Form 8821 vs. 2848 covers which one fits the task.
- [ ] Route the finding into your review method: IRS Transcript Review: Findings, Gaps and Next Checks is the worked step-by-step counterpart to this dictionary.
- [ ] Escalate to a human-reviewed workflow once findings stack up; IRS Transcript Software: A Workflow Guide covers that design.
These are working recommendations, not IRS requirements. Only the IRS determines what a code means for your account and what follows from it.
Does TC846 mean my refund reached my bank?
No. TC846 records a refund issuance transaction. Read the recorded transaction date alongside official refund-status information, then confirm actual receipt with your financial institution. For a refund that never arrived, Form 3911 is the dedicated trace.
Is TC768 the same as the earned income credit?
TC768 is the generated EITC posting. TC766 is a broader refundable credit allowance and is not automatically an EITC entry, so read the two separately.
Does TC420 mean I am being audited?
TC420 indicates an Examination or Appeals assignment. It is not a determination, a finding of fraud, or an additional assessment by itself. Locate the actual correspondence and work from that.
For tax firms
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