Glossary

Certified Mail for IRS Notices

Why is Certified Mail Important When Dealing with IRS Notices?

Certified mail for IRS notices is a service provided by the U.S. Postal Service that offers proof that the IRS sent you a letter and that you received it. This service provides an important tracking mechanism and legal documentation, ensuring that both parties have a record of the communication.

Glossary Article

Recommended for You

CP71B Notice

A CP71B notice from the IRS is an alert about a balance due on your taxes. It explains why you owe and how to pay it.

Professional Tax Advice Reliance

Professional tax advice provides individuals and businesses with expert guidance to ensure compliance with tax laws and optimize financial outcomes.

Capital Gains Tax

Capital gains tax is the tax you pay on profits from selling assets, like stocks or real estate. It's important to understand so you can plan your finances effectively.

Advertising Expenses Deduction

Advertising expenses deduction allows businesses to reduce taxable income by deducting costs incurred for marketing their products or services.

Form 433-D – Installment Agreement

Form 433-D is used to request an installment agreement with the IRS to pay off your tax debt over time instead of in one lump sum. It's a critical tool for taxpayers who can't afford to pay their taxes in full immediately.

Environmental Cleanup Costs Deduction

Environmental Cleanup Costs Deduction refers to tax benefits associated with expenses incurred during the cleanup of hazardous waste sites. This incentive aids businesses in offsetting costs while promoting responsible environmental stewardship.

Abatement for Duplicate Educational Tax Credit Filings

Abatement for Duplicate Educational Tax Credit Filings allows taxpayers to seek relief if they've inadvertently filed duplicate claims for educational tax credits.

Relief for Misreported Local Taxes Paid

Relief for Misreported Local Taxes Paid offers taxpayers a chance to correct and recover funds from incorrect local tax filings, ensuring financial compliance.

Taxpayer Notification Requirements

Taxpayer Notification Requirements are crucial regulations that ensure taxpayers are informed of their tax liabilities and compliance obligations, helping maintain transparency and accountability between taxpayers and tax agencies.

Health Savings Account (HSA) Contribution Credit

The Health Savings Account (HSA) Contribution Credit offers tax advantages to individuals saving for healthcare expenses. Learn how to maximize your HSA contributions for optimal tax benefits.

Form 8453-EMP – Employment Tax Declaration for an IRS e-file Return

Form 8453-EMP is an IRS form used to authorize an electronic employment tax return. It serves as a declaration that the return is accurate and allows the IRS to accept the e-filed information.

Affordable Public Transit Credit

The Affordable Public Transit Credit is a tax benefit designed to encourage individuals to use public transportation, helping reduce commuting costs and support environmental sustainability.

Form 8038-B – Information Return for Build America Bonds and Recovery Zone Economic Development Bonds

Form 8038-B is an IRS information return used to report the issuance of certain types of bonds, primarily Build America Bonds and Recovery Zone Economic Development Bonds. It's crucial for tax-exempt entities issuing these bonds to ensure compliance.

Municipal Renewable Electrification Workforce Job Credit

The Municipal Renewable Electrification Workforce Job Credit is a tax credit designed to encourage job creation in the local renewable energy sector.

Bankruptcy Estate Tax Liens

Bankruptcy Estate Tax Liens are legal claims by the IRS on a debtor's property during bankruptcy, ensuring tax debts are addressed in bankruptcy proceedings.

Installment Plan Modification Letter

An Installment Plan Modification Letter is a formal request to change the terms of an existing tax installment agreement, often needed when financial circumstances change.

Coastal Renewable Electrification Expansion Job Credit

The Coastal Renewable Electrification Expansion Job Credit incentivizes clean energy jobs, fostering growth in coastal renewable projects while offering tax benefits.

Expenses for Export Market Analysis Deduction

The Expenses for Export Market Analysis Deduction allows businesses to deduct certain expenses incurred during the analysis of international markets to promote exports.

Public Workforce Renewable Access Equity Credit

The Public Workforce Renewable Access Equity Credit incentivizes renewable energy access and diversity in the workforce, promoting equitable economic growth.

Urban Tech Hub Development Credit

Urban Tech Hub Development Credit encourages tech innovation by offering tax credits to urban tech hub projects meeting specific criteria.