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IRS Transcript Code 150 indicates that your return has been received and is being processed. It's not necessarily a bad sign. Other codes like 152, 766, 806, 971, 570, 810, 846, and 420 also reflect various stages of your tax return's processing. Cycle Code 20240605 shows your tax return is part of the 202406 processing cycle, which reflects IRS's annual processing schedule.

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