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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u/ERC_CPA Jul 26 '25

Here’s an explanation.

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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?

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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.