Deposit Fund Refunds
Internal Revenue Manual Part 3. Submission Processing · 2026-10-03 edition · updated 2026-10-04 · United States
This subsection describes the journals used to record Deposit Fund unconfirmed refund schedules.
These journals allow for multiple input of Deposit Funds, eliminating the current need for individual or "split" refund schedules.
These are the valid accounts for Deposit Fund Refund (journal #508).
Account Number
DR/CR
Account Name
4710
Credit
Offer-In-Compromise
4720
Credit
Sale Of Seized Property
4730
Credit
Miscellaneous Deposit Fund
6520
Debit
Refund Of Tax And Interest-NMF
4802
Credit
Approved Voucher Payable Interest
4803
Credit
Approved Voucher Payable Dep Fund
This table describes the steps required to complete journal #508.
Step
Prompt
Description / Action
Select or Enter
RACS Main Menu
Highlight/select Disbursement.
Apply
Disbursement Control Main Menu
Record
Select Deposit Fund Refund.
Tab or Apply
Account Period
Accept the highlighted current month or select the future month. From the Action Bar select...
Apply
Maintain Source Journal
Schedule #
Enter the Schedule Number assigned to the refund.
Tab Key
Prepare Date
Enter the date in MM-DD-YYYY format.
Enter or Add Button
Total Amount
Enter the Total Amount of the refund.
Tab Key
Items
Enter the total Items.
Enter or Add Button
Maintain Journal Entry
Select 20X6879 Disbursement/Deposit Fund Return or 20X0904 Interest.
Highlight and Tab Key
Amount
Enter the amount associated with the selected IRS account.
OK Button
Repeat if the second account has an amount, or select...
Cancel Button
Maintain Source Journal
Review input data. If correct, select...
OK Button
If information is not correct, select...
Edit or Delete Button
Maintain Transaction Journal
Highlight/select your next transaction from the Possible Source Journals. From the Action Bar select...
Action then Add
Maintain Source Journal
Deposit Fund ID #
Enter the Deposit Fund identification number.
Tab Key
Prepare Date
Enter the date in MM-DD-YYYY format.
Enter or Add Button
Maintain Journal Entry
Amount
Enter the Amount associated with the generated IRS account.
OK Button
Maintain Source Journal
Review input data. If correct... Can repeat or add ID # and amounts up to 200
OK Button
After last one entered.
Cancel Button
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