View economic impact and advance child tax credit payments
Written by Avery Simmons
Updated at February 25th, 2022
Canopy's transcripts tool allows you to pull and view all payment information for you client related to the Economic Impact Payments (EIP) and Advance Child Tax Credit Payments (AdvCTC). This guide will help you navigate to the documents containing this payment information. First, you will need to follow the guide to pull a client's transcripts. To get started, navigate to the Transcripts list in Canopy.
Pull a Client's Transcripts:
- Pull a Client Transcript
- Getting Started with the Transcripts and Notices Module - For users of Canopy's Transcripts and Notices standalone product
IRS Requirements
To pull transcripts and view the EIP and AdvCTC information, you must have a valid Form 8821 or Form 2848 on file with the IRS.
1. Click on the name of the Contact you want to view EIP And AdvCTC data for.
2. Click on Documents in the left-side navigation column.
3. Select the Account transcript for the year 2021.
- Account Transcript is selected by default, but you may need to select he year using the date column.
4. Scroll down to locate the Transactions section on the Account Transcript.
5. Review the transcript for transaction codes associated with the type of payment you want to view.
Economic Impact Payment transaction codes
- 766 - Tax relief credit: Amount of the recovery rebate credit allocated to the taxpayer (and spouse, if applicable)
- 766 - Credit to your account: Amount of any additional recovery rebate credit
- 846 - Refund issued: Economic impact payment amount sent to the taxpayer via direct deposit or paper check
- 971 - Notice Issued NOTICE1444: Notice 1444 was mailed to the taxpayer
Child Tax Credit transaction codes
- 766 - Credit to your account: Advance child tax credit
- 846 - Refund issued: Payment of the advance child tax credit, sent to the taxpayer via direct deposit or paper check
Transaction codes associated with a failed payment
- 740 - Undelivered refund returned to IRS: Refund check was returned to the IRS as undeliverable
- 841 - Refund cancelled: The IRS cancelled the refund check or direct deposit
- 846 - Refund issued: May indicate a reissued refund when following TC 740 or TC 841
6. If your client is filing jointly, you may need to review the spouse's transcript for any separate payments received by them.
Caution
The IRS uses the same transaction codes for multiple types of activities (e.g. Credit to your account and Refund issued). Review the date and amount columns when matching a refund to its associated credit(s).