FMS

Description and Definition of FMS

The Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds, has been authorized by Congress to conduct the Treasury Offset Program. Through this program, your Federal tax refund or overpayment you asked the IRS to apply to next year's estimated tax, may be reduced by FMS and offset to pay any past-due child support or Federal agency non-tax debts you may owe.

Resources

See Also

Further Reading

• FMS in the West's Tax Law Dictionary
• FMS in “A Dictionary of Taxation”