What does IRS code 826 mean on your transcript? If you are here, then you also have that question unanswered. We have created this guide to explain in detail what IRS TC 826 means on your 2022 or 2023 tax transcript.
For most of you, you may see IRS code 826 with Overpayment or Credit transferred.
What that actually means will be explained in a later section of this guide.
Without further delay, let us begin.
But before then, take note of this;
We do not work for the Internal Revenue Service nor do we have any association with them.
Also, we are not tax experts and do not, in any way, pretend to be one.
All information about IRS tax transaction code 826 in this guide is solely for educational purposes only.
We strongly believe the information we have gathered about the IRS code 826 will help many people understand the transaction code on their 2022 or 2023 tax transcript.
With that out of the way, let us continue.
Recommended guide: Tax Code 599 Meaning.
Table of Contents
What Does IRS Code 826 Mean On 2022 Or 2023 Tax Transcript?
Here is what IRS Code 826 Overpayment Transferred means on your transcript: your tax refund was diverted to old debt.
It is as simple as that.
It could be a student loan, child support, or any other debt.
From the screenshot above, you can see the IRS tax code 826 credit transferred out to 1040.
So, in essence, the IRS tax number 826 just indicates that your refund will be used to pay old debts.
See also: Internal Revenue Service TC 960 Explained.
What Does Code 826 Mean According To Master File Codes
According to the IRS Master File Codes, here is the meaning of tax code 826 on your transcript:
An ECC computer-generated debit for the amount of overpayment credit transferred to another tax module within this taxpayer’s account. The corresponding credit is code 706.
Check this: Meaning Of TC 971.
What Should I Do If I Have IRS TC 826 On My 2023 Tax Transcript?
For those who have TC 826 on their IRS tax transcript for either 2022 or 2023, here is what you need to do:
1. Contact the Internal Revenue Service representative for further details.
For further clarifications, please contact the IRS on phone 800-829-1040 (Individuals) and 800-829-4933 (Businesses) from 7 am to 7 pm local time.
2. Also, you can show your tax transcript to a tax expert for assistance.
The tax professional will be able to explain things better to you.
What is 826 Credit Transferred Out To 1040?
As we have explained above, the Internal Revenue Service tax code 826 is used for overpayment and credit transfer.
For a detailed explanation of your particular circumstance, you need to contact the IRS representative or consult a tax expert.
That is all you need to know about the Internal Revenue Service code 826 credit transferred out to 1040 on your 2022 or 2023 tax transcript.
If you have further questions on TC 826, use the comment section and let us know.