Deficiency Int.
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
Name the May Sequa Worksheet for IMF
2210
What Transaction code shows that an extension to file is valid?
TC 460
What is IRC section 6404G
IRC sections 6404G is failure to contact taxpayer timely.
What Transaction Code reflects that a manual refund has posted to the account?
TC 840
Per the IRC 6631 what notice/or letter is issued to the Taxpayer.
3535
Name the May Sequa Worksheet for BMF
2220
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.
971/ 064
What must be verified in order to initiate a manual refund?
The RSED, refund statute expiration date.
If an adjustment is input Wednesday Nov 13th, what will be the 23C Date?
Monday December 2nd
What is the key concept when computing interest?
The use of money.
extended due date
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.
Name the forms used when you process a manual refund.
Form 3753 Manual refund Posting Voucher
Form 5792 Request for IDRS generated refund
Where can you find the 23C Date Chart
6209 Section 16
What is the proper TC on IDRS to identify Revenue Ruling 99-40.
TC 836 Overpayment Credit Elect Transferred to Next Periods Tax
What are different types of effective dates for penalties?
Return Due Date
23C date
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.
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.
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
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.
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
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
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