What Does The "As Of" Date Mean On The Transcript? (2024)

FAQs

What Does The "As Of" Date Mean On The Transcript? ›

The 'as of' date on tax transcript 2022 represents the date on which your tax balance is calculated by the IRS, including your interest and penalties.

The “as of date”refers to balances due. They are due (to IRS) “as of” a certain date. If you don't owe money to IRS its movement is meaningless unfortunately.

Let's start with transaction codes, the three-digit codes that signify an Internal Revenue Service action related to your taxes, such as a credit or debit. The codes help create a history of your account. An “R” following a transaction code shows that the transaction has been reversed.

In conclusion, taxpayers can expect their tax transcripts to update once a week, typically on Tuesdays or Fridays. The timing of the update depends on the taxpayer's cycle code and batch processing. Real-time updates are not available, and taxpayers should not expect to see updates throughout the day.

What Does It Mean? The 'as of' date on tax transcript 2022 represents the date on which your tax balance is calculated by the IRS, including your interest and penalties. This date does not represent the date your tax balance is due, nor does it represent the date on which you will receive your tax refund.

AS OF DATE Definition & Legal Meaning

payment terms on an invoice that require repayment on a different date than the creation of said invoice. 2. the date when an aggreement becomes official. 3. date when data is applied.

The "as of" date on an IRS account transcript shows the date when the information on the transcript was last updated. It tells you how current the information is. For example, if the "as of" date is June 1, 2024, it means the account details are accurate up to that date.

The transcript also provides a processing date, estimating when your refund will be issued, often within 21 days of the cycle code date.

Direct deposit: Refunds scheduled for direct deposit are processed in fewer than 21 days. Paper filing: Complete and accurate returns should result in refunds issued in 6–8 weeks.

If you see code 570, that means that there is a delay in processing your return. This doesn't necessarily mean that there is anything wrong with your return, but you may receive a request for additional information – including a request to verify your identity.

How long after code 768 will I get my refund? ›

Regardless, the release of the tax refund is usually a day or two before or after the date listed next to IRS code 768.

Once the IRS code 846 appears on your tax transcript, your refund has been approved and you will be receiving the payment soon. If you request direct deposit refunds, the money should be processed within 2 to 3 weeks.

Future Dates: The dates shown on your transcript for accrued interest and penalties often represent the next time the IRS will update these amounts. For example, if your transcript shows a date of July 8, 2023, it means that the interest and penalties are calculated up to that date, even if today's date is earlier.

Most transcripts include a number and letter grade. A list of dates attended and majors. The transcript will also list the dates during which you took certain classes.

If you're interested in tracking your refund, focus on codes related to refunds. Code 846 signifies a refund has been issued, and Code 766 shows the amount applied to a prior tax year. These codes provide insights into the status and history of your refund.

The timing of your refund may change if you: Claim the Earned Income Tax Credit or Child Tax Credit. File a paper return. File an amended return.

More In File

refund amount or no balance due, allow 2-3 weeks after return submission before you request a transcript. allow 6-8 weeks after you mailed your return before you request a transcript.