IRS CP259E Notice notifies exempt organizations of a missing return, encouraging filing to avoid penalties or loss of status.
Tax deferment allows taxpayers to delay paying taxes on income or gains until a future date, such as with retirement accounts or investment gains.
The CP22A notice is sent when the IRS makes changes to a taxpayer’s return, resulting in a balance due.
The trust fund penalty is a personal liability imposed on individuals responsible for collecting and paying payroll taxes but who fail to do so.
The statute of limitations on tax debt is the time limit during which the IRS can collect unpaid taxes, usually 10 years from the date of assessment.
A Statutory Notice of Deficiency is an official IRS notification that a taxpayer owes additional taxes, with an opportunity to dispute the assessment in Tax Court.
Capital loss carryover lets taxpayers apply capital losses from one year to offset capital gains or ordinary income in future tax years.
Estimated tax payments are required for taxpayers who do not have taxes withheld from their income, such as self-employed individuals, to avoid penalties.
The CP91 notice warns taxpayers of a federal payment levy being placed on their account due to unpaid taxes, prompting immediate action.
IRS Form 8862 allows taxpayers to reclaim the Earned Income Tax Credit (EITC) after it was previously disallowed by the IRS.