Exception:

The Non-Restricting TC 340 is an enhancement to Master File programming to allow a systemic interest update on a tax module after interest has been manually computed, and it should be used whenever possible. (See IRM 20.2.5.6.3, Interest on Underpayments). This is especially useful for, but not limited to, the following situations: Multiple waiver dates Combination adjustments involving carrybacks (Form 2285) Disaster area adjustments Abatements due to a delay or error in a ministerial or managerial act Combat zone participants Multiple RC 6404(g) notice dates Rev. Rule. 99-40 Removing the large corporate underpayment (LCU) applicable date (i.e., 2% trigger date) for a tax module in which the LCU rate doesn’t apply.

Upon reviewing a Form 941 for Key 54 (see 3.14.2.6.15(4)) a Notice Review TE does a REQ 54 and assesses FTF penalty (TC 160). If an amended 941 is submitted and a TC 291 is done, a manual TC 161 must also be input.

Manual adjustments with Hold Code 3 will suppress adjustment notices.