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.Know More
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.Learn more about Taxes
As of March 2015, qualifying individuals who earn $53,000 a year or less, have a disability, are elderly or speak little English can receive free tax preparation help from the Volunteer Income Tax Assistance (VITA) program, as stated by the IRS. The Tax Counseling for the Elderly (TCE) program also provides free tax assistance and specializes in aiding taxpayers 60 and older.Full Answer >
A taxpayer can use a tax or W-4 calculator to estimate his tax refund or liability, according to H&R Block. A tax calculator typically uses the taxpayer's filing status, number of dependents, income and expenses to determine taxable income and credits.Full Answer >
Taxpayers can estimate federal tax refunds by using a free online tax refund calculator, such as TurboTax's TaxCaster or H&R Block's Tax Estimator. To calculate an accurate estimate, tax calculators require the taxpayer's income, expenses, filing status, age and number of dependents.Full Answer >
Taxpayers find tax refund information by navigating to the official website of the Internal Revenue Service and clicking on the Refunds tab. From there, the IRS provides up-to-date refund information via its Where’s My Refund tool. Alternatively, taxpayers have the option to download the IRS2GO mobile app for refund information.Full Answer >