Code 766 on IRS Transcript 2022 – What Does It Mean?
As tax time approaches, many tax filers are eagerly anticipating their IRS transcripts. However, they may get a little confused when they see Code 766 on their transcript. So, what does Code 766 on IRS Transcript 2022 mean?
Code 766 indicates that you’ve had an adjustment to your tax return. Specifically, it means that the IRS has made a change to the amount of the refund you were originally owed. This change usually occurs due to an adjustment in your tax liability or a credit that was applied to your account.
If you see Code 766 on your transcript, you should receive a letter from the IRS explaining the adjustment. This letter is usually sent within a few weeks of the adjustment being made. It’s important to read the letter carefully and make sure you understand why the adjustment was made.
It’s worth noting that Code 766 only appears on transcripts for the current year. If you’re looking at a transcript from a previous year, you won’t see this code.
If you have any questions about Code 766 or the adjustment to your tax return, you should contact the IRS immediately. They’ll be able to provide you with more information and help you understand the situation.
In conclusion, Code 766 on your IRS transcript 2022 means that your tax return has been adjusted and the amount of your refund has changed. If you receive this code on your transcript, be sure to read the letter from the IRS carefully and reach out to them if you have any questions or concerns.