Deficiency Int.
May Sequa
Int on Penalties
6404G
Manual Refunds
100

Name the Taxpayers Bill Of Rights That falls under our training class. 

The right to pay no more than the correct amount of tax. 

The right to quality service

The right to be informed

100

Name the May Sequa Worksheet for IMF

2210

100

What Transaction code shows that an extension to file is valid?

TC 460

100

What is IRC section 6404G

IRC sections 6404G is failure to contact taxpayer timely.

100

What Transaction Code reflects that a  manual refund has posted to the account?

TC 840

200

Per the IRC 6631 what notice/or letter is issued to the Taxpayer. 

3535

200

Name the May Sequa Worksheet for BMF

2220

200

What section of the Document 6209 is used for Interest on Penalties?

Section 10 of the 6209.

If you go to the Penalty and interest table you will find the penalties and effective dates.

200
What is the 971 Action Code to determine that 6404(g) applies to the account?

971/ 064

200

What must be verified in order to initiate a manual refund?

The RSED, refund statute expiration date.

300

If an adjustment is input Wednesday Nov 13th, what will be the 23C Date?

Monday December 2nd 

300

What is the key concept when computing interest?

The use of money.

300
For a PRN 680 would the effective date be the return due date, extended return due date, or the refund date?

extended due date

300

How long does the IRS have to reach out to the taxpayer in regards to a defieceincy?

36 months only after November 25th, 2007.  

Before November 25th 2007, the IRS will have 18 months minus 1 day to contact the taxpayer.

300

Name the forms used when you process a manual refund. 

Form 3753 Manual refund Posting Voucher

Form 5792 Request for IDRS generated refund

400

Where can you find the 23C Date Chart

6209 Section 16

400

What is the proper TC on IDRS to identify Revenue Ruling 99-40.

TC 836 Overpayment Credit Elect Transferred to Next Periods Tax

400

What are different types of effective dates for penalties?

Return Due Date

23C date

400

If an amended return is received after December 21, 2005 does 6404(g) apply? 

If yes, explain why. 

No, because of revenue ruling 2005-4 extended the notification period for amended return starts on the date of the received amended. 

400

what form do you use when the case amount is 10 million dollars or more?

Form 3753

There has to be two forms prepared because of the dollar amount.

500

Name 3 ways to determine the interest "TO" date.

The waiver (agreement) date plus 30 days.

The 23C date of the tax assessment

The payment or Credit Date

500

Name the three criteria that must be present for Maysequa to apply.

There must be an underpayment of tax

2. Must have been a credit elect applied to the succeeding year which originated from the year having the underpayment.

3.The filers are required to make estimated tax payments for their return.

500

If a return is received in 04/15/1982 what is the failure to file effective date?

Due date, extended due date, or 07/18/1984

500

If a tax return is filed 10/16/2017 does it qualify for IRC section 6404(g)?

If so when would be the end of the notification period to send notice of deficiency?

Yes, the tax return would qualify for 6404(g) as long as there is a valid extension to file posted to the TXMODA. TC 460

10/15/2020

500

Give three reasons for preparing a manual refund

Hardship cases (at taxpayer’s request) – requested on Form 5402

Innocent spouses    Congressional complaints

Return of levied property to taxpayer   Deceased taxpayers

Joint entity and refund is being issued solely to one taxpayer

Treasury Offset Program (TOP) Injured Spouse Claims           Refunds of 1 million dollars or more

Non Master File (NMF) Refunds        Taxpayers in bankruptcy

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