Caution:

Do not follow reprocess procedures. Route to Accounts Management if posted to the wrong tax period. Stop a refund if necessary and void the notice. No other actions should be taken for Form 8752 incorrect tax period cases.

Search for a missing TC 610 or TC 670 payment on a balance due case. If found on another module, transfer the payment to the notice module. Void or retype the notice. An adjustment notice will not generate from the 10% penalty (TC 246) recomputation. In addition: • Void the notice if the tax will be full paid after transferring the payment • Retype the notice if the tax will be only partially paid • Refigure the 10% penalty on the new underpaid tax amount

If the missing payment posted on another MFT 15 module that has a return, route the case to the Accounts Management (Adjustments) Function. Void the notice.

If the TC 766 amount does not match Line 10 of Form 8752, the fault lies with the prior year return. Print the notice.

The TC 150 can be adjusted. If line 9b was transcribed in error, input a TC 290 or TC 291 to adjust the TC 150. Void or retype the notice.

The IRS will issue a refund after April 15 and not later than the 90th day after the claim is filed. The taxpayer must file a final Form 8752 when terminating the Section 444 Election.

The taxpayer should check box c on Form 8752, or write at the top of the form Termination of Section 444 Election.

Credit interest will not be added to any refund made under this Section.

Do not manually adjust the TC 76X credit.

Programming will prohibit the manual input of a TC 76X

The system will automatically adjust the TC 766 credit when the required payment (TC 150) is adjusted

The computer will accept a TC 290 or TC 291.

Section 7519 required payments will be treated as deposits rather than tax for the purpose of the statute of limitations on credits or refunds.