IRS code 421: Examination indicator closed
- Effect:
- Closes an exam indicator
The examination indicator (420 or 424) was reversed.
What code 421 means
Code 421 reverses a 420 or 424. The IRS generates it when an examination assessment (300) posts with certain closing codes, and it can also be input directly.
If the examination changed your tax, a 300 or 301 posts on the year too. If neither appears, the indicator closed without an examination assessment.
Codes often seen with 421
- 420 Examination of tax return Your return was referred to the IRS's examination or appeals function.
- 424 Examination request Your return was referred to the IRS's examination or appeals function.
- 300 Additional tax assessed by examination An examination or appeals decision added tax to this year.
- 301 Tax reduced by examination An examination or appeals decision reduced the tax on this year.
Source
IRS title: Reverse Examination Indicator (Document 6209, Section 8A, page 8A-16).
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