Ezel / IRS Rulings / 201116024

CCA 201116024: A TC 716 signifies a credit elect on a transcript

Number
201116024
Outcome
Advice
Document type
Chief Counsel Advice
IRS subject
Authority to Make Credits or Refunds
Topics
Procedure, penalties, and administration
Code sections
§ 6402
Ruling dated
March 25, 2011
Publicly released
April 22, 2011
Source
View Official PDF

Apply this to your situation

This page covers legal advice the IRS Office of Chief Counsel wrote for IRS staff, issued in 2011, which can't be cited as precedent. Ask about your situation and see what the current Code and IRS guidance say, with citations.

Currency note: this determination was released in 2011
Statutory amendments, regulation changes, court decisions, or later IRS guidance may have changed the analysis since then. Treat this page as historical context, not current tax advice. Verify current law before relying on any specific rule, threshold, or position mentioned here.
Not precedent. Under 26 U.S.C. § 6110(k)(3), this written determination may not be used or cited as precedent. It is advice from the IRS Office of Chief Counsel to IRS personnel on the facts they presented, and identifying details were redacted by the IRS before release. The official IRS release (linked on this page as a PDF) is the authoritative source.
About this page: The plain-English summary and ruling snapshot below were written by Ezel based on the official IRS release. The full text is the IRS's own document.
View official IRS release (PDF)

Plain-English summary

Chief Counsel Advice addressed the meaning of transaction code 716 on a tax transcript. The IRS advised that a TC 716 signifies a credit elect on the transcript. The memorandum referred the reader to Document 6209 and did not provide additional factual or legal analysis.

Ruling snapshot

  • Question: What does transaction code 716 signify on a tax transcript?
  • Outcome: Advice given
  • Key authorities: IRC § 6402; IRS Document 6209

Full text (IRS public release)

ID: CCA_2011032510551642 Number: 201116024
Release Date: 4/22/2011
Office: ----------------------------
UILC: 6402.00-00

From: -------------------------
Sent: Friday, March 25, 2011 10:55:16 AM
To: ------------------
Cc: ----------------------------------------------------------
Subject: TC 716

Hi.

A TC 716 does signify a credit elect on a transcript. See Document 6209.

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