IRS Code 150 on Tax transcript – Tax Topic 150 2022

IRS Code 150 on Tax transcript – Tax Topic 150 2022. Are you one of those people who have code 150 on your IRS tax transcript for 2022? So what does IRS code 150 mean on your transcript? This is one of the frequently asked questions being asked by many individuals and companies alike.

Have you read the transcripts of the processing dates in the account for wages? If you’re looking to learn details about these accounts as well as wages transcripts, check out the article below to learn more. Users across the United States have had a new take-up note in the issue that bounced back to the initial date of the resequencing of the report created from February 28th, 2022.

Every tax season there is a guessing game played by millions of American taxpayers on when they will get their refund payment deposited into their bank account. There is the so-called IRS refund schedule, which has estimated dates for when the IRS will make refund deposits to bank accounts or send out mailed checks.

But this is just an estimate and does not account for processing delays and other reasons refunds could get delayed. It also does not provide an indication of when other tax-related items that affect your refund get updated.

So another way, as discussed in this article, is to check your IRS tax transcript (free from your IRS account) that shows what is called a “cycle code.” This is an eight-digit number that indicates when your tax return is posted to the IRS Master File (IMF). The cycle code is updated regularly and when combined with the tax topic code, can provide insight into your tax refund status, processing stages, and potential direct deposit date.

What does the transcript cycle code mean?

The tax transcript cycle code means your return has been submitted to the IRS master file (IMF) and generally means that your filed tax return is under processing (code 150) by the IRS.

But remember the cycle code + tax topic code, need to be used together to figure your return or refund status given they change during the IRS processing cycle.

You will need to wait for the 846 code (refund issued) to show on your transcript. This means the IRS has processed your return and your estimated direct deposit date (DDD) has been determined. See the section below for more details on this code.

The IRS can and does update cycle codes and dates regularly and are pretty careful about disclosing specific details given issues in past tax years.

However, we do know the IRS updates returns in batches/cycles and your IRS cycle code tells you which batch you are in and whether your transcript tax return information is updated on a daily or weekly basis.

How do I find my IRS Cycle Code?

You will need to get access to your (free) official IRS transcript. Once you have that look for the cycle date per the image below. It will be a 8 digit number like this 20220602. The cycle is interpreted as follows: (YEAR)(WEEK OF YEAR)(DAY OF WEEK)

How do I find my IRS Cycle Code?

2022 [First four digits] – This is the tax processing year. 2022 in this case.

06 [Digits 5 and 6] – This is the week of the year. So 06 means the 6th calendar week of the year. Months are not a factor here. Get a calendar out and count the weeks to determine this (a week goes Monday to Sunday). So Jan 3rd, 2022 to Jan 9th, 2022 is Week 1, January 24th to January 30th is Week 4, February 7th to 13th is Week 6.

02 [Digits 7 and 8] – This is the “day of the week” for your IRS Account and when it posts to the IRS master file (IMF). Posting is classified as either being updated weekly or daily. Cycle codes ending in 01, 02, 03, 04 are daily accounts. Cycle codes ending in 05 are generally weekly accounts.

Note the IRS weekly processing starts on a Friday, not a Monday. I know strange, but that’s what it is.

There are 4 daily processing days per week (including transcript and WMR/IRS2Go updates). So 01= Friday, 02=Monday, 03 = Tuesday, 04 = Wednesday and 05 is Thursday is generally reserved for weekly processing.

02 means this is a “daily” posted account and the posting to the IMF (IRS master file) will generally occur on Monday.

So using the example above, the 20220602 cycle date is equivalent to a calendar date of Monday, February 7th, 2022. It means your return was successfully filed and you are in a daily batch cycle.

There is also an estimated processing date of Feb 28th, 2022 noted in the transcript example above.

Weekly vs Daily processing cycles

While WMR/IRS2Go and your transcript can update any day, they generally have major updates once a week and are aligned to your cycle.

As detailed in this article, major WMR status updates for daily accounts (cycle codes 01 to 04) usually occur on Wednesdays; and major status updates on weekly (05 cycle code) accounts are generally on Saturdays.

Mass transcript updates for those with daily accounts (in the IRS Master File) are usually on Tuesdays; while those with weekly processed accounts generally see major updates on Fridays.

Note that your cycle code can also change during a tax season (e.g. you from daily to weekly) through resequencing of your tax return in the IRS master file. This will result in your tax return being pushed out one or more cycles (and likely result in a delayed refund).

2022 IRS Cycle Codes for Direct Deposit Dates

The table below shows the IRS cycle code to calendar date conversion. Remember the cycle code can update/change throughout the tax season as your tax return is processed.

IRS Transcript Cycle CodesCalendar Date
20220102Monday, January 3, 2022
20220102Tuesday, January 4, 2022
20220104Wednesday, January 5, 2022
20220105Thursday, January 6, 2022
20220201Friday, January 7, 2022
20220202Monday, January 10, 2022
20220202Tuesday, January 11, 2022
20220204Wednesday, January 12, 2022
20220205Thursday, January 13, 2022
20220301Friday, January 14, 2022
20220302Monday, January 17, 2022
20220302Tuesday, January 18, 2022
20220304Wednesday, January 19, 2022
20220305Thursday, January 20, 2022
20220401Friday, January 21, 2022
20220402Monday, January 24, 2022
20220402Tuesday, January 25, 2022
20220404Wednesday, January 26, 2022
20220405Thursday, January 27, 2022
20220501Friday, January 28, 2022
20220502Monday, January 31, 2022
20220503Tuesday, February 1, 2022
20220504Wednesday, February 2, 2022
20220505Thursday, February 3, 2022
20220601Friday, February 4, 2022

Refund direct deposit date (with Code 846) via cycle code

When you see the IRS code 846 (refund of overpayment) on your transcript it means a refund has been issued. This is when you can use the cycle code to get an estimated payment date for your refund. It will generally be the day after your “day of the week” cycle code.

So if you are on a Tuesday daily cycle, your refund will likely hit your account on a Wednesday. Paper checks will take 5 to 7 days longer.

I have seen cases, due to processing backlogs, where the actual refund deposit (transaction date) into your bank account or financial card could happen 2 to 3 days after your cycle date. Don’t get too stressed if a couple of days off. This has been happening a lot in the last few years!

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