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Notice code 692 (Default) — We have disallowed the amount claimed as First- Time Homebuyer Credit on page 2 of your tax return. …
What this IRS notice code means, and what to check before you reply.
What to do next
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692
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
We have disallowed the amount claimed as First- Time Homebuyer Credit on page 2 of your tax return. Your modified adjusted gross income can not exceed: $95,000 for the filing status single, head of household, married filing as qualified widow(er), and married filing separately or $170,000 for married filing jointly for a home purchased before November 07, 2009, or $145,000 for the filing status single, head of household, married filing as qualified widow(er), and married filing separately or $245,000 for married filing jointly for a home purchased after November 06, 2009.
What it usually means
692 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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