An Offer in Compromise is under consideration; levies are generally paused. Here is what it means, what usually happens next, and what to do.
On your account transcript it reads: 480 Offer-in-compromise pending Hold or watch
TC 480 shows an Offer in Compromise is pending on the account. While it is being considered — and for 30 days after a rejection, plus during a timely appeal — the IRS generally will not levy.
Also written as: IRS code 480, code 480 on transcript, 480 IRS code, transaction code 480.
The offer is accepted (TC 780), rejected or returned (TC 481), or withdrawn (TC 482). As a term of the offer, the IRS generally keeps refunds for periods through the year an offer is accepted and applies them to the balance.
| On the same transcript | What it usually means |
|---|---|
| 480 → 780 | Offer accepted. |
| 480 → 481 | Offer rejected or returned; appeal rights may apply. |
| 480 → 482 | Offer withdrawn. |
File and pay current-year taxes on time.
Late responses get offers returned.
The rejection letter explains the window.
Paste it into the free decoder — every code explained, open holds flagged, refund and offsets summarized. Runs in your browser; nothing is sent anywhere.
Decode my transcript →The IRS reviews the offer; the outcome posts as 780 (accepted), 481 (rejected or returned) or 482 (withdrawn).
Levies are generally suspended while the offer is pending, but interest continues.
On your IRS account transcript for the tax year — in your IRS Online Account under tax records, or by mail using Form 4506-T. The transactions section lists each code with its description, date and amount. Return transcripts do not show transaction codes.
Yes. IRS code 480, code 480 on transcript, transaction code 480 and TC 480 all refer to the same three-digit transaction code the IRS posts to your account.