IRS Code 766 on IRS Transcript 2022-2023 IRS Code 766 indicates a refundable credit to your account from an overpayment made in a prior year or a credit from the latest year’s return. When IRS Code 766 appears on your tax transcript it means The IRS has credited your account. […]
Is Workers’ Comp Taxable? Is workers’ comp taxable? Generally no, but a portion might be taxed if you also receive Social Security Disability Insurance (SSDI) benefits. Individuals who experience a work-related accident or sickness are entitled to workers’ compensation benefits. If you are qualified for temporary or permanent disability benefits […]
Overpaid Tax – What Happens To Overpayment of Taxes? Overpaid tax amounts to an interest-free loan to the IRS. Normally, an overpayment of taxes is refunded automatically when filing your taxes. There are some common things that often lead to overpaying taxes. Maybe, you are better off avoiding them. Sometimes, […]
IRS Letter 2645C – What It Means IRS Letter 2645c is an interim letter from the IRS saying they need more time (45-60 days) to review the documents or information you submitted. The Internal Revenue Manual refers to them as “interim letters” (IRM 4.19.23). The letter merely states that the […]
IRS Reference Number 1242 – IRS CP05 & CP05A Notices IRS reference number 1242 indicates a discrepancy and the account is frozen pending review of supporting documentation from the taxpayer or third parties. In most instances, an IRS CP05 Notice is issued in which the IRS notifies the taxpayer in […]
How To Open Null File Extensions How To Open Null File Extensions – Don’t! Some third-party Windows programs utilize the .null file extension for a corrupted data file format. Files that are given the NULL extensions are known as “.null” files. Have you found, downloaded, or received a .null file? […]