M

  • Master File

    An IRS File which consists of a series of runs, data records and files that are in production with links to many of the other IRS systems. All businesses and individuals have an IRS Master File. Master files receives individual or business tax submissions in electronic format and processes them through a pre-posting phase, posts the transactions, analyzes the transactions and produces output in the form of Refund data, Notice data, Reports, and information feeds to other entities.

 

  • Module

    On the IRS Master File, the module of the return defines a specific return by its time frame. Form 1040, Individual Income Tax Return, is normally for a calendar year module and Form 941, Employers Quarterly Tax Return, is for a 3-month quarterly module during a calendar year i.e. March 31st, June 30th, September 30th, and December 31st). (Same as the term period.)

 

  • Monthly Disposable Income

    Any positive amount remaining after the taxpayers necessary monthly living expenses are subtracted from their monthly income. MDI is used to help calculate the taxpayers RCP (reasonable collection potential) for OIC purposes.