Tax Code 846 on an IRS account transcript means your federal refund has been approved and scheduled for payment. The dollar amount next to the code is what the IRS is actually sending you, and the date is when the agency expects the funds to reach your bank or when a paper check is scheduled to be mailed. Once 846 posts, your return has cleared review and no further IRS approval is needed. If you searched for “846l,” there’s no separate code by that name; you’re looking at standard Code 846, sometimes displayed with a trailing character depending on how your transcript viewer renders the line.
What Code 846 Means
Code 846 is labeled “Refund Issued” in the IRS Master File system. When it appears on your transcript, the IRS has finished reviewing your return, confirmed the numbers, and instructed the Treasury Department’s Bureau of the Fiscal Service to release your money.
Two pieces of information sit alongside the code. The dollar amount is your actual refund, which may differ from what you claimed if the IRS adjusted the return or offset part of it against a debt. The date is when the IRS expects payment to arrive at your financial institution or when a paper check is scheduled for mailing. That date is the target, not a guarantee that funds are already spendable.
When the Money Actually Arrives
The payment method you chose on your return decides how quickly the refund reaches you.
Direct Deposit
Electronic deposits typically hit your bank account on or within a few business days of the date shown on the transcript. Your bank may need an extra day or two to process the incoming transfer before the funds show as available.
One limit worth knowing: the IRS allows a maximum of three electronic refunds to be deposited into a single bank account per year. A fourth refund routed to the same account gets automatically converted to a paper check and mailed instead.1Internal Revenue Service. Direct Deposit Limits
Paper Check
Paper checks take considerably longer. After the date on your transcript, Treasury still has to print and mail the check, and then delivery depends on the postal system. Plan on roughly one to three weeks beyond the transcript date before the check reaches you. Your bank may also hold a large Treasury check for a few days before releasing the funds.
Treasury checks also expire. Every check is printed with “VOID AFTER ONE YEAR” above the signature line, and any check not cashed within that window is automatically canceled.2Bureau of the Fiscal Service. Cancellations, Deposits, Reclamations, and Claims for Checks Drawn on US The money isn’t gone; the underlying obligation survives, but you’ll need to contact the IRS for a replacement, and a claim on an expired check must be filed within one year of the original issue date.3Office of the Law Revision Counsel. 31 USC 3702 – Claims of the United States Government
If Your Refund Amount Is Smaller Than Expected
Sometimes Code 846 appears with a dollar figure lower than what your return calculated. The most common reason is a refund offset. Federal law lets the Treasury redirect refund money toward several categories of outstanding debt before the remaining balance reaches you.4Office of the Law Revision Counsel. 26 USC 6402 – Authority to Make Credits or Refunds
Debts that trigger an offset include past-due child support, unpaid federal agency debts such as defaulted student loans, and overdue state income taxes. The Bureau of the Fiscal Service handles the interception and mails a Notice of Offset explaining which agency claimed the money and how much was taken.5Administration for Children and Families. How Does a Federal Tax Refund Offset Work
If you filed a joint return and the offset is for your spouse’s debt alone, you can file Form 8379 (Injured Spouse Allocation) to recover your share.6Internal Revenue Service. About Form 8379, Injured Spouse Allocation You can submit it with your original return if you know about the debt ahead of time, or file it separately after the offset. Processing takes roughly 11 to 14 weeks when filed on its own.
If Code 846 Posts but the Money Never Arrives
Direct deposits can fail when the account number on the return is wrong or the account has been closed. Paper checks can be lost or stolen in the mail. In either case, the fix is a refund trace.
Wait until enough time has passed: generally five days after the scheduled direct deposit date, or several weeks after a check was mailed. Then file Form 3911 (Taxpayer Statement Regarding Refund) by mail or fax to the IRS Refund Inquiry Unit for your state.7Internal Revenue Service. About Form 3911, Taxpayer Statement Regarding Refund The IRS uses this form to investigate whether the payment was delivered, cashed by someone else, or returned by the bank.
For a lost, stolen, or expired paper check specifically, you can also contact the Bureau of the Fiscal Service directly at 1-855-868-0151, and the agency will walk you through the claims paperwork.8Bureau of the Fiscal Service. If You Want To Traces and reissued checks aren’t fast. Expect the investigation and replacement to take several weeks at a minimum.
Codes You May See Instead of 846
If you pulled your transcript and 846 isn’t there yet, a few other codes explain where your return is stuck.
Code 570, “Additional Account Action Pending,” means the IRS placed a temporary hold on the refund while it verifies something on the return. It isn’t an audit. Common triggers include mismatches between employer-reported income and the amount you claimed, or credits that need extra review. Most 570 holds resolve on their own within a few weeks.9Internal Revenue Service. Understanding Tax Account Transcripts Part One
Code 571 reverses Code 570 and releases the hold.10Internal Revenue Service. Section 8A – Master File Codes Code 971, “Notice Issued,” means the IRS mailed you a letter about your return. The letter itself explains the situation and may request identity verification, ask for documents, or notify you of a change to the refund amount.
The typical progression when there’s a hold runs 570, then 971, then 571, and finally 846. If you see 570 and 971 but no 571 or 846, the hold is still active. Wait for the notice to arrive before calling; it usually spells out exactly what’s needed.
Interest the IRS Owes You on Late Refunds
If your refund takes too long, the IRS owes you interest. When the agency doesn’t issue a refund within 45 days of either the filing deadline or the date you actually filed, whichever is later, interest accrues on the unpaid amount from the original deadline forward.11Office of the Law Revision Counsel. 26 USC 6611 – Interest on Overpayments You don’t need to apply for it. The IRS calculates and adds it to your refund automatically.
The rate changes quarterly and is pegged to the federal short-term rate plus three percentage points. For 2026, the individual overpayment rate is 7% for the first quarter and 6% for the second quarter.12Internal Revenue Service. Quarterly Interest Rates The IRS treats this interest as taxable income. You’ll receive a 1099-INT the following year for any interest paid and report it on that year’s return.