No, a tax transcript will not help you determine when you will get your refund. This is among the common myths and misconceptions that are often repeated in social media. The codes listed on tax transcripts do not provide any early insight into when a refund will be issued. The best way to check on your refund is by visiting “Where’s My Refund?” While transcripts include a lot of detailed information regarding actions taken on your account, the codes do not mean the same thing for everyone and they do not necessarily reflect how any of these actions do or do not impact the amount or timing of your refund. IRS transcripts are best and most often used to validate past income and tax filing status for mortgage, student and small business loan applications and to help with tax preparation.
For more answers to common refund questions visit our 2014 Tax Season Refund Frequently Asked Questions page.
- katbird067 likes this
- my-own-hero likes this
- thesacreddraught likes this
- bushidosai likes this
- ray54wtf likes this
- usagov reblogged this from internalrevenueservice and added:
- fultonabrahamcpa reblogged this from internalrevenueservice
- rosataxcpa likes this
- readingblocks reblogged this from internalrevenueservice
- readingblocks likes this
- samtamchan reblogged this from internalrevenueservice
- samtamchan likes this
- reneglez likes this
- internalrevenueservice posted this