Refund Transcripts

are reviewed to decide if the account overpayment should be allowed to refund. Refund transcripts are identified on NRPS as CPs and marked in OLNR. However, a CP notice is not issued. Transcripts are selected for NRPS and reviewed by key. There are four types of Refund Transcripts:

CP 380 - Refund of 1 Million dollars or more

CP 384 - Normal NRPS Refund Transcript

CP 386 - Highly Questionable Refund

CP 388 - Refund Interest Transcript

Allowable OLNR dispositions for refund transcripts are:

T (Transcript) - Use this disposition to mark the account as a transcript and the money should be allowed to refund to the taxpayer.

TI (Transcript/Intercept) - Use this disposition to mark OLNR when the refund needs to be stopped using NOREF.

Disposition TI should only be used if Notice Review intercepts the refund.