Glossary

CP291 Notice

The CP291 notice is sent by the IRS to inform taxpayers that their tax account has been credited with an overpayment of taxes. This notice indicates that the IRS has determined the taxpayer paid more than was owed and has applied the overpayment to their account.

Key points about CP291:

The notice provides details of the overpayment amount and how it has been credited to the taxpayer’s account.
Taxpayers can choose to apply the credit to future tax payments or request a refund of the overpayment.
The notice outlines the steps for making these requests and the timeframe for submitting them.

Taxpayers receiving CP291 should review the notice carefully to understand their options regarding the overpayment and ensure they apply the credit as desired.

Recommendation

Letter 3217C

IRS Letter 3217C confirms that the taxpayer’s Installment Agreement has been accepted, detailing monthly payment amounts and due dates.

CP23 Notice

The CP23 notice notifies taxpayers of discrepancies between their estimated tax payments reported and those in the IRS’s records, which may result in a balance due.

IRS Form 2848: Power of Attorney and Declaration of Representative

IRS Form 2848 is used to grant power of attorney to a representative, allowing them to act on your behalf in IRS tax matters.

Levy Release

A levy release stops the IRS from seizing assets, such as wages or bank accounts, to satisfy unpaid tax debt.

CP134B Notice: Balance Adjustment for Partnership Return

IRS CP134B Notice notifies partnerships of adjustments made to their prior tax return and outlines any resulting balance due or refund.

Letter 2270C: Installment Agreement Request Rejected

IRS Letter 2270C notifies taxpayers that their request for an installment agreement has been rejected and provides reasons for the rejection along with appeal options.

CP10 Notice

The CP10 notice is sent to notify taxpayers that their refund has been issued, providing details on the amount and method of delivery.

CP254 Notice

The CP254 notice informs taxpayers that the IRS has corrected an error on their account and applied an overpayment credit toward future taxes.

Tax Lien Subordination

Tax lien subordination allows a federal tax lien to be moved to a lower priority, helping taxpayers refinance or sell property while still owing tax debt.

Tax Return Transcript

A tax return transcript is a document that summarizes key information from your tax return, often used for financial aid or loan applications.