Glossary

CP10 Notice

The CP10 notice is sent by the IRS to inform taxpayers that their tax refund has been processed and issued. This notice includes details about the refund amount and how it will be delivered, either by direct deposit or by check.

Key points about CP10:

The notice specifies the refund amount and confirms that the IRS has completed the processing of the taxpayer’s return.
It outlines how and when the taxpayer can expect to receive the refund.
Taxpayers should keep the notice for their records and as proof of the refund issued.

Receiving CP10 is a positive notification indicating that the IRS has processed the return and issued a refund.

Recommendation

Tax Levy

A tax levy allows the IRS to seize a taxpayer’s assets, including wages and bank accounts, to satisfy unpaid tax debt.

Tax Deferment

Tax deferment allows taxpayers to delay paying taxes on income or gains until a future date, such as with retirement accounts or investment gains.

CP2000 Notice: Underreported Income

The IRS CP2000 Notice alerts taxpayers that there is a discrepancy between the income they reported and the income reported to the IRS by third parties.

Refundable Tax Credit

A refundable tax credit can reduce a taxpayer’s liability to zero and generate a refund for any amount of the credit that exceeds the taxes owed.

Tax Deficiency

A tax deficiency is the difference between the amount of tax the IRS determines you owe and the amount you reported on your return.

CP71B Notice

The CP71B notice is an annual reminder of an unpaid balance on a taxpayer’s account, including payment options to settle the debt.

CP39 Notice: Refund Applied to Past Due Taxes

IRS CP39 Notice notifies taxpayers that their refund has been applied to a prior year’s unpaid tax debt instead of being issued as a refund.

CP71A Notice

IRS CP71A is an annual reminder that a taxpayer has an unpaid balance, detailing the total amount owed, including penalties and interest.

CP22A Notice: Changes to Your Tax Return Resulting in a Balance Due

The IRS CP22A Notice notifies taxpayers that changes to their tax return have resulted in a balance due and provides steps for making a payment.

IRS Notice CP14: Balance Due

IRS Notice CP14 is the first notice sent by the IRS informing you of a balance due for unpaid taxes and includes instructions for resolving your debt.