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What Does The "As Of" Date Mean On The Transcript?

While some people may falsely believe that the ‘as of’ date listed on their tax transcript represents the date that the tax payment is due or the date they will receive their tax refund, this date is actually referring to when their tax balance was calculated.


What Does It Mean?

The ‘as of’ date on tax transcript 2022 represents the date on which your tax balance is calculated by the IRS, including your interest and penalties. This date does not represent the date your tax balance is due, nor does it represent the date on which you will receive your tax refund.

Key Takeaways:

  • The ‘as of’ date on transcript 2022 refers to the date on which your tax balance or refund balance due to interest and penalties were calculated. 
  • The ‘as of’ date on your tax account transcript may be automatically updated by the system when an update or change is made within your account to extend the deadline. 
  • Seeing a transcript cycle code on your account means your tax return has been successfully submitted and is being processed.
  • The ‘as of’ date does not represent your refund processing status. Instead, A notice of the issue of refund can be observed if there is IRS code 846 on your tax transcript.

Why Are As Of Dates Calculated?

The reason that ‘as of’ dates are calculated and displayed on your tax transcript is to determine if you have a tax balance that is due to be paid or if you will be eligible for a tax refund at the time of filing your tax return. 

What Do Transcript Cycle Codes Mean?

In general, seeing a transcript processing cycle code on your tax transcript means your tax return has been successfully submitted to the IRS master file (IMF) and is now being processed. To gain an estimate of when their tax return will be processed, taxpayers will have to refer to the transcript cycle code and tax topic code.

Does The 'As Of' Date Tell You When You Will Receive Your Tax Refund?

The ‘as of’ date you may see on your tax transcript does not mean the date that your tax refunds will be issued to your bank account. Instead, to determine their refund status, taxpayers must look out for transaction code 846, which indicates that they will be receiving a tax refund as well as the date they can expect to receive the refund.

Why Is The 'As Of' Date On Your Tax Transcript In The Future?

The reason that the ‘as of’ date on your 2022 account transcript is that it allows the IRS sufficient time to process all of the updated account information as well as gives the taxpayer the opportunity to submit a payment for the money they owe by mailing a check or making an online deposit. 

Why Do 'As Of' Dates Change?

The reason that you may notice that the ‘as of’ date on your account transcript has changed, is that this date is automatically configured by the system when a change is made to your account. Any time that takes an action on your account, whether they make an update or change, you may notice this date has been updated to allow more time to take action before the deadline.

If you have any other questions about your account transcripts, filing taxes, or need advice about tax processing this tax season, consult risk-free with the professionals here at Ideal Tax for all the answers you need.


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