Glossary

CP153 Notice

The CP153 notice is sent by the IRS when they are unable to issue a taxpayer’s refund via direct deposit. This typically occurs when the taxpayer’s banking information is incorrect or cannot be verified. The notice informs the taxpayer that the IRS will issue the refund by paper check and mail it to the address on file.

Key details about CP153:

It explains why the direct deposit failed and outlines steps to update banking information for future refunds.
The taxpayer does not need to take action unless they wish to correct the banking details for future payments.
The paper check will be sent within a specified time frame to the taxpayer’s address.

Taxpayers receiving this notice should verify their bank account details for future filings to avoid delays in receiving refunds.

Recommendation

CP25 Notice: Refund Adjustment Due to Estimated Tax Payments

The IRS CP25 Notice informs taxpayers that their refund has been adjusted due to incorrect estimated tax payments.

Capital Gains Exclusion on Home Sale

The capital gains exclusion on home sales allows homeowners to exclude up to $250,000 ($500,000 for married couples) of profit from the sale of their primary residence.

IRS Fresh Start Program

The IRS Fresh Start Program helps taxpayers resolve tax debt by offering easier access to Installment Agreements, penalty abatement, and Offers in Compromise.

IRS Letter 668(W): Notice of Levy on Wages, Salary, and Other Income

IRS Letter 668(W) is a Notice of Levy that allows the IRS to garnish wages and other income to satisfy unpaid tax debt.

CP2057 Notice: Inquiry Regarding Unreported Income

IRS CP2057 Notice alerts taxpayers of potential unreported income and invites them to correct or clarify discrepancies to avoid penalties.

CP11 Notice: Additional Tax Owed After Corrections

The IRS CP11 Notice informs taxpayers that corrections made to their tax return resulted in additional tax being owed.

CP98 Notice: Application of Refund to Outstanding Tax Debt

IRS CP98 Notice notifies taxpayers that their refund has been used to cover unpaid tax debt from a previous year.

CP148 Notice

IRS CP148 is sent to taxpayers when there is a mismatch between the name or Social Security Number provided on the return and the IRS’s records.

CP03A Notice

IRS CP03A is sent to notify taxpayers that their tax return is being processed, including information on expected refund timelines.

CP504C Notice: Final Notice of Intent to Levy on Social Security Benefits

IRS CP504C Notice warns taxpayers that the IRS will begin levying a portion of their Social Security benefits unless they resolve their unpaid tax debt.