Here is what the code means:
When the IRS processes your refund and on the transcript you see TCS TREAS 449 for TAX REF that means the following: "If your client's refund is less than expected and you see a coinciding TCS TREAS 449 offset, this means that the taxpayers' refund has been reduced to repay a debt collected through the Treasury Offset Program. This program is designed to collect delinquent debts that are owed to states and federal agencies."
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