Received transcript today from TP. Has a code 896 overpayment credit offset. TP is single no dependents and carry's his own insurance. Anyone know what this code may mean? Thanks I cannot make heads or tails from IRS code sheet.
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From the IRS website, it is an "overpyment credit offset" described as the following:
TC896 with AG/SA code represents a previously posted DMF offset. A DMF TC 896 will no longer occur after 1/11/1999 because CC DMFOL no longer exists after thatdate. Instead, information about DMF offsets (TC 896) can be obtained from CCs IMFOL, BMFOL, INOLEX and TXMOD. TC 896 is also used to reflect an offset to IRAF accounts and from IMF to BMF or MFT 29.
This is pure Greek to me, but perhaps will be helpful to you.
I noted you posted the exact same query on the ATX boards as TAXMAN, so perhaps you can also get some assistance there.
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