Code 766: generated refundable credit allowance.
A refundable credit on the account (for example the Additional Child Tax Credit).
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With EITC or ACTC the PATH Act holds the whole refund until mid-February.
Document 6209 says
Credit. Used on individual (IMF) accounts.
Generated Refundable Credit Allowance
The full Document 6209 entry, as printed
Credit (NPJ) I/B Generated Refundable Credit Allowance 47, 54 ECC generated to allow a refundable credit (other than ES or excess FICA) which was verified on a Form 720, (abstract 11 amount) 941, 942, 943, 945 (Advanced Earned Income Credit) 990C, 990PF, 990T, 1040, 1040C, 1041, 1120 or 1120S return but not previously posted to the Tax Module, or from the appropriate line item adjustment of an Examination or DP Tax Adjust - ment. Includes credit allowed for gasoline tax paid, credit from Regulated Investment Co., or Covenant Bonds with item reference 334 (199312-199411 only) for installments of 1993 additional taxes. See Section 8C.3. Note: TC 766 with CRNs 946 and 966 are refundable credits. These CRNS are reimbursements of the Installment Agreement user fee due to the Bipartisan Budget Act of 2018, Section 41105 and the implementation of the legislative requirements that impacted IA's entered into on or after April 10, 2018. 766 w/OT N Credit I/B IRS TOP Offset Reversal 47, 54 Reverses a prior posted TC 898, TOP Offset, when input with the same offset trace number (OTN). See Section 8.17 for the explanation of the credit references.
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Questions people ask
What does code 766 mean on my IRS transcript?
Document 6209 calls it "Generated Refundable Credit Allowance". A refundable credit on the account (for example the Additional Child Tax Credit). With EITC or ACTC the PATH Act holds the whole refund until mid-February.
Sources
Checked against these sources on October 30, 2026.