Consumer Bankruptcy Journal Winter 2018 - Page 28

SECRETS OF THE IRS ACCOUNT TRANSCRIPT the transcripts with a code 150, there is, sometime later, at least one entry coded 599 with the description “tax return filed.” [The IRS witness] Kirkpatrick testified that a code 599 is entered whenever an SFR is filed. Kirkpatrick testified that a code 599 will be entered again whenever a taxpayer files a tax return to replace the SFR.” However, other IRS experts have indicated to the author that it also denotes a taxpayer- filed return.” To identify the meaning of code 599, it should be cross-referenced to another set of codes, the “closing codes.” Like transaction codes, the closing codes are more or less spelled out in IRS publication 6209. 19 However, the author in recent conversation with an IRS insolvency officer regarding code 599 has been advised that the closing codes may no longer be applicable in this context, and hence it may be unsafe to rely on the closing codes to determine it is the client’s return, or an SFR. Caveat, it may require a phone call to the IRS “Practitioner’s Priority Hotline” to get a handle on what, exactly a code 599 on your client’s transcript may mean. 20 Conclusion There are more issues involving account transcripts, including the many “971” codes that typically appear, the transcript that shows zero owed but the IRS has been trying to levy on your client for something, the Assessment Statute Extension Date (“ASED”), and other more arcane matters. These will be addressed As may be seen, getting and understanding account transcripts can be a challenge. Professionals who do not feel confident that they understand 28 CONSUMER BANKRUPTCY JOURNAL them exactly may get an analysis of his/her client’s tax discharge eligibility from the author. Visit MorganKing.com and click on RequestTaxOpinion.com near the top of the page. (Endnotes) 1 Those states having income taxes will have their equivalen ܛ\ق]\[YHY\[\][HXXH[YH[\]\HT[ܚ\˂B[]Y[X[XXKB\\Y][[B]]ܸ&\\\[^\[[ܝ\K0 ܈[ܛX][ۋ\][ܙ[[˘H[Xۂ''H]HوHYK܋•^X\[˘KBH[ܝ\HX\B][[ۈ[ۜ[Y\X[ۂXو H 8'Px'JHYY\B[\ܙ LHKːˈ0 LJB JJKBBLHKːˈ0 L JJ JJJJKB LHKːˈ0 LJJ JJJZJKLH LM [܋ MJKMB LHT0 L JJ JJJZJJJJK܈L^\ LHKːˈ L JJ JJKMBLHKːˈ L JJ JKNBXܙ][\[][YB\ [HXܙ]K MNH LB[܋ [K MBNBBH MY][ۈو BX^HH[][ܙ[[˘KوYK 8$^\\K][B^\XH \X\ B\\X^HH[][ܙ[[˘KوYK[ ^\\K[[^\XH \X\ BLHKːˈ0 L JJ JJJZJKBTH0 LK J L L KL L KTH KˌH KL L LJKBB]^Y[8'\ Y[8'B[[Y\˂LBLHKːˈ0 LJJ JKLBBLHKːˈ0 L JJ JKLBYHܚY[[\\Y[\œ]\ٚYYH ^YX\[KH Y^B[K[H ^YX\[KHX\]Y[\\Y[\Y\\BYZ[HY][ۘ[\\Y[YYۛH]\ٞH]ۈ \[ LB[ܙH[\܈^\\K]Y []\[ۋLHKːˈ0 LJJ JJKMBH]]܈[[Y\™^\[ۋMBB[H[Xܛ NNB[܋ K NNMKXZ][]و^ [\ NBBB][ۘ[\X][ۈوۜ[Y\[ܝ\H]ܛ^\