Question

Code 420 on transcript

Forum|Forum|5 years ago
April 26, 2021
1 reply
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Hi, WMR advises me to refer to Tax Topic 151, and to Take Action. My transcript has code 420 examination on it. I got my refund minus $1000 which the IRS kept. Can anyone please tell me what all of this means?

H

HelenC12

Code 420 on your transcript indicates that your return has been referred to the Examination or Appeals Division. You can try and call the IRS at 1-800-82-1040 to find out why your refund was short $1,000. Also see the information about IRS Topic No. 151 Your Appeal Rights.

There are a few reasons why refunds received from the IRS may be different than expected this tax season:

The IRS adjusted the recovery rebate credit calculated on your return,
The IRS made adjustments due to differences in what is reported to them or adjustments to certain credits and deductions,
Your refund is offset as part of the Treasury Offset Program,
An adjustment for Federal taxes owed for a previous year.

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