Return Information Notice - Code 01
We reduced the amount of credit you asked us to transfer to next year’s estimated tax. The credit available is less than the amount you asked us to transfer.
- Why did I receive this notice code?
- You did not have enough credit available to transfer the amount you requested to the next year. Refer to the Overpaid Tax/ Tax Due section of your tax return and the “Amount you want applied to your 2017 estimated tax” line to see the amount requested for transfer. We show the reduced transfer amount in the Tax Year Summary section of the notice.
- What do I need to do?
- If you agree with our revision, please note the reduced amount of overpayment in your records.
- If you agree with our revision and a reduced balance due exists, please pay the amount due.
- If you do not agree with the reduced figures, review your records to identify any differences. Many times, a misapplied payment causes the difference. Use our Payments and Balance Due tool to verify estimate payments on record for your account. If you feel a payment is missing, please contact us and have a copy of the canceled check ready so we can locate the payment in our system.
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