Definition
Transaction Code 694. Indicates the IRS received an Offer in Compromise. Collection is suspended while the OIC is under review.
What it means for your account
Pending OIC tolls CSED. Do not run a second OIC narrative until this one’s fate (accept, reject, return, withdraw) is on the transcript.
Related codes
Where Brevitax uses it
Brevitax reads these postings from account transcripts and surfaces them as plain-language timeline events and attention items — not as a raw code list. Upload transcripts or have Brevitax request them, then see TC-694 in context on your dashboard.
Common questions
What does TC-694 mean on an IRS transcript?
Transaction Code 694. Indicates the IRS received an Offer in Compromise. Collection is suspended while the OIC is under review.
Why does TC-694 matter for tax resolution?
Pending OIC tolls CSED. Do not run a second OIC narrative until this one’s fate (accept, reject, return, withdraw) is on the transcript.
Where do I find TC-694 on my account transcript?
Look for transaction code 694 in the posting sequence for the tax year. Transaction Code 694. Indicates the IRS received an Offer in Compromise. Collection is suspended while the OIC is under review.