STATUTES AND BANKRUPTCY
How do you determine the ASED on a 1040 return?
The return due date or return received date plus three years whichever is later.
Name 5 types of cases that are not controlled on AIMS.
PENAPS, Audit Reconsiderations, Collection Due Process, Civil Penalties, Service Center Claims.
What Transaction Code do you use to increase EIC?
TC 764
What transaction code generates and MFT 31 account?
TC 971 AC 103
Why would APS input a TC 570?
To hold a credit or refund.
What does it indicate if you see a -V on TXMODA?
Bankruptcy
What tool and command code does APS use to input non-AIMS adjustments?
IAT Tools Command code REQ54
What CRN represents adjustments to ACTC?
CRN 336
What priority code is required when reducing refundable credits on the MFT 31 accounts?
Priority Code 9
How is the -K freeze released?
TC 290.00
What are the 3 statutes we are concerned about in APS?
ASED CSED and RSED
What transaction code are miscellaneous penalties posted with on IDRS?
TC 240
What is the ASED for married filing separate return converted to a joint return when one spouse did not file a return?
Three years from the original return or one year from the amended return whichever is later.
ASED is not stablished.
What transaction codes do you use to transfer a credit balance from one period to another?
The transaction codes used to transfer a credit balance differ depending on the type of credit/overpayment available to transfer.
During an exam bankruptcy case what statute is not suspended during the bankruptcy automatic stay?
ASED
What are the 3 closing codes for claims cases and what do they mean?
14-Full disallowance
15- Full allowance
16- Partial allowance
When can a taxpayer elect to go from separate to joint filing status?
No later than the ASED of the original return.
Under what condition would an MFT 31 account be created for an exams case?
When one spouse takes a different course of action than the other spouse.
Agreed, Unagreed, Petitioning, None Petitioning.
What form is used to transfer a barred credit/refund to excess collections?
Form 8758
Name 3 conditions that would extend the statute?
1. A tax court decision entered.
2. Issuing a statutory notice of deficiency.
3. A signed agreement between the taxpayer and IRS to extend the statute (i.e.) form 872 or 872A.
When does a claim have to be received to be considered timely?
Before the RSED expires.
Name at least 2 refundable credits that are included in the SND?
1. Additional Child Tax Credit ACTC
2. Adoption Credit
3. American Opportunity Credit. (education credit)
4. Earned Income Credit (EIC)
5. First Time Home Buyer Credit.
What transaction and action code should be input when delinquent return is received on an SFR account?
TC 971 AC 282
To prevent an unpostable, what priority code is used when inputting a TC 806 when an account has a posted TC 170/171 or a TC 765 with a posted TC 290?
Priority code 8