Assessments

The Assessment journals are used to record manual assessments, either for MF or NMF accounts.

These are valid accounts for Assessments (Reversals are also available).

Debit

Credit

1314

NMF Tax Straddles

6110

Withholding Tax Assessments- TAX

1321

NMF Notice

6111

Withholding Tax Assessments- PEN

1322

NMF Taxpayer Delinquent Accounts

6112

Withholding Tax Assessments-INT

1324

TDA Deferral (Queue)

6120

Ind. Income Tax Assessments-TAX

1360

NMF Installment Agreement

6121

Ind. Income Tax Assessments- PEN

1371

NMF Offers in Compromise

6122

Ind. Income Tax Assessments-INT

1389

NMF Suspense

6130

Corporation Tax Assessments-TAX

1510

Other Receivables, Reg.

6131

Corporation Tax Assessments-PEN

1600

Manual Assessments, Transit Account

6132

Corporation Tax Assessments-INT

1830

NMF Accounts Receivable, Inactive

6140

Excise Tax Assessments-TAX

4120

SPC Suspense for MF-BMF

6141

Excise Tax Assessments-PEN

4220

SPC Suspense for MF-IMF

6142

Excise Tax Assessments-INT

4420

SPC Suspense for NMF

6150

Estate & Gift Tax Assessment-TAX

6550

Withholding Tax Payments Credited

6151

Estate & Gift Tax Assessment-PEN

6560

Other Credits Allowed

6152

Estate & Gift Tax Assessment-INT

6170

CTA Tax Assessments-TAX

6180

FUTA Tax Assessments-TAX

6171

CTA Tax Assessment-PEN

6181

FUTA Tax Assessments-PEN

6172

CTA Tax Assessments-INT

6182

FUTA Tax Assessments-INT

This table describes the steps required to complete journal numbers 610-686 and 810-886.

Step

Prompt

Description / Action

Select or Enter

RACS Main Menu

Highlight/select Assessments.

Apply

Assessment Control Main Menu

Record

Select/highlight the assessment type.

Tab Key

Account Period

Accept the highlighted current month or select the future month. From the Action Bar select...

Apply

RRACS Intermediate Menu

Select the needed tax class category.

Apply

Maintain Source Journal

Certificate #

Enter the certificate number. (Manual assessments only)

Tab Key

Assessment Date

Enter the Assessment Date in MM-DD-YYYY format. For "Regular Current" or "Regular Deficiency" assessments, next Monday's date is generated. Normal assessment dates cannot be earlier than the current date. Manual assessment dates cannot be later than the current date.

Enter or Add Button (Tab for jeopardy assessments)

Principal Taxpayers

For jeopardy assessments only, enter the number of principal taxpayers.

Enter or Add Button

Maintain Journal Entry

Items

Enter the number of Items.

Tab Twice

DLN / RS #

Input the DLN or Reconciliation Schedule (RS) number.

OK Button

Highlight/select Tax, Penalty, or Interest.

Tab twice

Amount

Enter the amount for the selected category.

OK Button

Repeat for each category that has an amount. The DLN/RS# is generated from the "items" record. When finished with required inputs, select...

Cancel Button

Maintain Source Journal

To enter additional assessments on this journal, select...

Add Button

When finished, review input data. If correct...

OK Button

Maintain Transaction

Highlight/select Application from the Possible Source Journals. From the Action Bar select...

Action then Add

Maintain Source Journal

RS#

Enter the RS number. **This is an optional entry field.

Enter or Add Button

Maintain Journal Entry

Highlight/select the needed IRS account.

Tab Key

Amount

Enter the amount for the selected IRS account.

OK Button

Repeat for each account that has an amount. Then select...

Cancel Button

Maintain Source Journal

Review input data, If correct, select...

OK Button

If information is not correct...

Edit or Delete Button

Maintain Transaction Journal

Message

Select Message to enter up to 256 characters of audit trail information.

OK Button

Post

Review input data. If correct...

Post Button