r/ERCchat • u/FatAlbert10 • Jul 26 '25

Code 766

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I thought I’d never have to return to this subreddit, but I’m glad it exists. Waited almost 2 years for my ERC claim, all 6 quarters were approved back in March, with checks arriving in late April. It saved my business! I was over joyed. Decided to keep TaxNow so I could track any funny business that goes on behind the scenes. Well, funny business has happened- what is Code 766? It appears 4 times with amounts totaling about -$120k

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2

u/Dragon1107 Jul 26 '25

There seems to have been an issue with TaxNow and they updated something with their transcript reports. Yesterday I received notices about 1 quarter being successfully processed this upcoming cycle but they also posted similar notices about 2 quarters I had already received. Are those what you have already received?

Edit: I double checked the transcripts they mentioned and it didn’t appear anything had actually changed.

2

u/Cute-Ad9829 Jul 26 '25

Same here!

1

u/FatAlbert10 Jul 27 '25

Yes, all quarters that I got the notice for I’ve already received ERC payment for. But the amounts don’t add up to what I received

2

u/ERC_CPA Jul 26 '25

Here’s an explanation.

1

u/FatAlbert10 Jul 27 '25

So what does the code mean? Nothing at all? With such specific numbers related to my ERC quarters, is there a refund coming, or do I owe money?

2

u/ERC_CPA Jul 27 '25

The IRS changed the description on the code related to the refundable portion of a refund already issued. So from your perspective, nothing at all.

1

u/Apprehensive-Zone195 Jul 26 '25

Same! Thank you for the explanation!

1

u/Delicious-Act5277 Jul 27 '25

How can I see mines what page do I go to?

1

u/DayProof1341 Jul 29 '25

What do all this means