How to Read Your IRS Account Transcript (And Why You Should)

Your IRS account transcript is a record of every transaction the IRS has posted to your tax account for a given year. Filing your return, processing a refund, assessing penalties, receiving payments, issuing notices — all of it shows up as a transaction code on your transcript. And most people who pull their transcript have no idea what they’re looking at.

I used to read these every day as a Revenue Agent. Here’s how to pull your transcript, what the most important codes mean, and when to pay attention to what you see.

How to Get Your Transcript

You can request your account transcript through IRS.gov using the Get Transcript tool. You’ll need to create or log into your IRS online account. Select “Account Transcript” for the tax year you want to review. The document will be available immediately as a PDF.

The transcript you want is the Account Transcript — not the Return Transcript. The Return Transcript shows what you filed. The Account Transcript shows what the IRS has done with your account since you filed. That’s where the useful information is.

What You’re Looking At

An account transcript is a list of transaction codes with dates, amounts, and brief descriptions. Each code represents a specific action the IRS took on your account. The codes are three-digit numbers, and the IRS uses hundreds of them. You don’t need to memorize all of them. You need to know the ones that matter most.

The Transaction Codes That Matter Most

Here are the codes you’ll see most often and what they tell you:

TC 150 — Return Filed. This confirms the IRS received and processed your return. The amount shown is the tax liability reported on the return. If you don’t see TC 150, the IRS hasn’t processed your return yet.

TC 806 — W-2 or 1099 Withholding Credit. This is the withholding from your W-2s or 1099s credited to your account. It should match what you reported on your return.

TC 846 — Refund Issued. This means the IRS issued a refund. The date next to it tells you when it was sent.

TC 610 / TC 670 — Payment. TC 610 is a payment with the return. TC 670 is a subsequent payment (like an estimated tax payment or a payment on a balance due). These should match your records of payments made.

TC 971 — Notice Issued. This means the IRS sent you a notice. The action code next to it tells you which notice. If you see TC 971 and don’t remember receiving a notice, check your mail and your IRS online account.

TC 290 / TC 300 — Additional Tax Assessed. This means the IRS has added tax to your account, usually from an audit adjustment, a CP2000 assessment, or an amended return. If you see this and weren’t expecting it, something happened that you need to investigate.

TC 420 — Examination Indicator. This means your return has been selected for examination. If you see TC 420, an audit is in process or has been initiated.

TC 530 — Currently Not Collectible. This means the IRS has determined you can’t pay your liability and has temporarily suspended collection activity. The liability doesn’t go away — it’s just on hold.

When to Check Your Transcript

Pull your transcript after filing to confirm the IRS processed your return (look for TC 150). Check it if you’re waiting on a refund (look for TC 846). Review it if you receive any IRS notice to understand what the IRS sees on their side. And pull it before any representation engagement so your representative has the same picture the IRS does.

What Your Transcript Can’t Tell You

Transcripts show what the IRS has posted to your account. They don’t show pending actions, open audit workpapers, or internal notes from examiners. They also don’t show state tax information — only federal. If you need to know what’s happening behind the scenes in an active examination or collection case, you need a representative with Power of Attorney who can contact the IRS directly.

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If you’ve pulled your transcript and something doesn’t look right — or you’ve received a notice and want help understanding what the IRS sees on their end — schedule a consultation. Or learn more about our IRS representation services.