I often see code 826 on the transcript provided by IRS. What does code 826 signify ?
Prashant Thakur Changed status to publish February 19, 2023
Code 826 on an IRS transcript refers to a “W-2 or 1099 withholding.” This code appears in the “Transaction Code” section of the transcript, which provides information about any changes or updates made to a taxpayer’s account.
The W-2 or 1099 forms are used to report income earned by an individual and the amount of taxes withheld from that income. Code 826 indicates that the IRS adjusted the withholding reported on one of these forms, which may have resulted in a change to the taxpayer’s tax liability.
Prashant Thakur Changed status to publish February 19, 2023
