Q:

What is a TCS Treas 449 tax refund?

A:

The U.S. Department of Treasury's Bureau of the Fiscal Service explains that when IRS Treas 449 appears in the company field on direct deposits of IRS tax refunds, this indicates a portion has been offset for delinquent debt. Similarly, TCS Treas 449 indicates a payment from the U.S. Department of Treasury that has been reduced to repay amounts owed.

The U.S. Department of Treasury's Financial Management Service administers a program called the Treasury Offset Program to collect delinquent debts that are owed to states and federal agencies. Debts such as past-due child support are deducted from individual tax refunds. Federal creditor agencies, such as the Department of Education, can submit delinquent debts to the Financial Management Service and request that it be included for recovery in the Treasury Offset Program. The Financial Management Service decides whether or not the debt qualifies for collection by offset.

Tax refunds that have been reduced due to the intervention of the Treasury Offset Program are clearly labeled with the Treas 449 designation. A contact number for the Financial Management Service Debt Management Service is also included with the refund, and additional information about the Financial Management Service or Treasury Offset Program can be found on the official website for the U.S. Department of Treasury. For specific questions regarding the delinquent debt or to verify its validity, it is necessary to directly contact the agency or department office from which the debt originated.

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