Code 716: generated overpayment credit applied from prior tax period.
From IRS Document 6209, the IRS's processing codes manual.
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Document 6209 says
Credit. Used on individual (IMF) accounts.
Generated Overpayment Credit Applied from Prior Tax Period
The full Document 6209 entry, as printed
Credit (NPJ) I/B Generated Overpayment Credit Applied from Prior Tax Period Generated Transaction An ECC computer generated credit which applies the amount of credit elected and available from the preceding year’s Tax Module. A TC 836 debit is generated for the amount of the credit. Applicable to Forms CT-1, 720, 940, 941, 943, 945, 990C, 990T, 990PF, 1040, 1041, 1042 and 1120.
After code 716
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Questions people ask
What does code 716 mean on my IRS transcript?
Document 6209 calls it "Generated Overpayment Credit Applied from Prior Tax Period".
Sources
Checked against these sources on October 30, 2026.