Tag: tax

Mainframe Mainframe means large computer. Mainframes have faster processing speeds than smaller systems. The mainframe also houses the CPU.

Magnetic Tape (Mag Tape) Magnetic tapes are made of flexible plastic with only one side coated with a magnetic recording material. Tapes come in reels, cartridges, or cassettes of all sizes — just like audio tapes. Information is usually recorded on tape in parallel tracks that run the entire length of the tape. Tapes are… Continue reading Magnetic Tape (Mag Tape)

Machine language The language at its lowest level in binary form (001111100), into which data and programs must ultimately be translated before the machine can use it and execute any instructions.

Long Closing The AIMS closing of examined returns and surveyed claims. A long closing uses Form 5344 (Exam), Form 5599 (EO), and Form 5650 (EP).

Labels AIMS provides three types of labels: audit (status), file, and address labels. Audit labels are used on AIMS forms for requisitions, updates, closings and corrections. The file labels are used to identify returns in various files and for group control cards. The address labels are used on correspondence with the taxpayer.

Key Verification (KV) The process of verifying original entry (OE) data on a terminal.

Julian Date The numeric day of the year that the return or document was numbered for processing. (For example: January 15 +MC 015). The sixth, seventh and eighth digits of the DLN represent the Julian Date. Note: If the DLN is IDRS generated, this date will be incremented by 400 so January 15 would be… Continue reading Julian Date

Job A collection of specific tasks constituting a unit of work for a computer.

ITIN Is assigned by Austin Campus as a result of an accepted Form W-7/W-7SP application. This is a 9 digit valid permanent number beginning with “9” and fourth and fifth digits being “70”-”80”. Appears on MCC or IDRS transcripts with an asterisk (*) and pound sign (#) differentiating it from Temporary SSN which are invalid.

IRS Number Classification number given to various classes of excise or special tax liability. (Lubricating oil, IRS 63; Retail Liquor Dealer, IRS 06)