A TCS Treas 449 Tax Refund: What Is It?

The IRS Treas 449 code that appears in the company field on direct deposits of IRS tax refunds, according to the U.S. Department of Treasury’s Bureau of the Fiscal Service, denotes that a portion of the return has been deducted for past-due debt. TCS Treas 449, in a same vein, denotes a payment by the U.S. Department of Treasury that has been scaled back to cover debts outstanding.

To recover past-due payments owed to states and federal agencies, the Financial Management Service of the U.S. Department of Treasury runs a programme called the Treasury Offset Program.

From individual tax returns, debts such as past-due child support are subtracted. Delinquent debts may be submitted to the Financial Management Service by federal creditor organisations, such as the Department of Education, with a request that they be included for recovery in the Treasury Offset Program. The Financial Management Service determines if the debt is eligible for offset collection.

Refunds that have been lowered by the Treasury Offset Program’s intervention are readily identified with the Treas 449 designation. The reimbursement also includes a contact number for the Financial Management Service Debt Management Service, and further details on the Financial Management Service or Treasury Offset Program can be found on the U.S. Department of Treasury’s official website. It is required to get in touch with the agency or department office directly if you have particular inquiries about the past-due debt or want to confirm its legality.

Misha Khatri
Misha Khatri is an emeritus professor in the University of Notre Dame's Department of Chemistry and Biochemistry. He graduated from Northern Illinois University with a BSc in Chemistry and Mathematics and a PhD in Physical Analytical Chemistry from the University of Utah.

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