Glossary

CP80 Notice

The CP80 notice is sent by the IRS when they have credited payments to a taxpayer’s account but have not yet received the tax return for the specified tax year. This notice informs the taxpayer that the IRS cannot process the payments fully without receiving the return.

Key details about CP80:

It alerts the taxpayer that payments have been credited, but the return is missing.
The notice may specify that penalties and interest could be applied if the return is not filed promptly.
It provides instructions for submitting the missing return or explaining why it has not been filed.

Taxpayers receiving a CP80 notice should ensure that their tax return is filed as soon as possible to avoid penalties or interest charges.

Recommendation

CP60 Notice

The CP60 notice informs taxpayers that their refund has been adjusted due to underreported income or discrepancies in their return.

CP515 Notice: First Notice of Unfiled Return

IRS CP515 Notice informs taxpayers of an unfiled tax return and provides instructions for filing to avoid further penalties.

Willful Tax Evasion

Willful tax evasion is the deliberate and intentional act of avoiding taxes through illegal means, such as hiding income or falsifying documents, leading to severe penalties.

Child and Dependent Care Credit

The Child and Dependent Care Credit allows taxpayers to claim a credit for a portion of childcare expenses for children under 13 or dependents who cannot care for themselves.

Write-Off

A tax write-off is an expense that taxpayers can deduct from their taxable income, reducing their overall tax liability.

Letter 3219B: Statutory Notice of Deficiency – Proposed Adjustments to Return

IRS Letter 3219B notifies taxpayers of proposed adjustments to their return, resulting in a tax deficiency, and offers the option to challenge the changes in tax court.

Form 4868: Application for Automatic Extension of Time to File UIndividual Income Tax Return

IRS Form 4868 grants taxpayers an automatic six-month extension to file their federal income tax return.

IRS Audit

An IRS audit is a review of a taxpayer’s financial records and tax return to ensure compliance with tax laws, often triggered by errors or inconsistencies.

CP44 Notice: Refund Withheld Pending Review

The IRS CP44 Notice informs taxpayers that their refund is being withheld pending an IRS review of their tax account or return.

CP30A Notice: Removal of Underpayment Penalty

The IRS CP30A Notice informs taxpayers that the underpayment penalty previously assessed has been removed.