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Notice code 348S (1040SS) — According to our records an installment payment is due for the First-Time Homebuyer Credit received …
What this IRS notice code means, and what to check before you reply.
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348S
Read the notice carefully and note any deadline. Gather returns, notices, and payment records. Book a free strategy session before responding if the amount is large, unclear, or collection language appears.
What the IRS language says
According to our records an installment payment is due for the First-Time Homebuyer Credit received with your 2008 tax return. You did not report the payment and did not include it in tax. We have calculated the required payment and added it to your total tax on line 6 of your Form 1040-SS.
What it usually means
348S is in our IR Manual catalog. Official wording is dense — we translate it for business owners and individuals and map realistic next steps.
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