IRS code 766: Refundable credit allowed
- Effect:
- Credit
- Posts as a:
- Credit
A refundable credit was added to your account.
What code 766 means
Code 766 allows a refundable credit verified on your return, or allowed later through an examination or other adjustment. It covers refundable credits other than estimated tax payments and excess Social Security tax. The earned income credit has its own code, 768.
A 766 can also reverse a debt offset (898) when it carries the same offset trace number, and some 766s are refunds of installment agreement user fees.
Code 767 reverses it.
Codes often seen with 766
- 767 Refundable credit reduced or removed The IRS reversed some or all of a refundable credit.
- 768 Earned income credit Your earned income credit (EITC) was posted to the account.
- 806 W-2 or 1099 withholding Credit for the federal income tax withheld from your wages or other income.
- 846 Refund issued The IRS issued a refund for the amount shown.
Source
IRS title: Generated Refundable Credit Allowance (Document 6209, Section 8A, page 8A-30).
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TTOC Finder is independent and isn't affiliated with the IRS. This page explains what the code means in general. For your own account, check your IRS online account or Where's My Refund?