Glossary

CP22 Notice

The CP22 notice is issued by the IRS to inform taxpayers of changes made to their tax account as a result of adjustments in previously filed returns. This notice serves to update the taxpayer on their current balance or refund status.

Key points about CP22:

The notice details the specific changes made and how they affect the taxpayer’s account.
It provides a breakdown of any new amounts owed or changes to the refund due.
Taxpayers are encouraged to review the notice and contact the IRS if they have questions or believe the changes are incorrect.

Receiving CP22 helps taxpayers stay informed about their tax account and ensures that any necessary actions are taken to address outstanding balances or refunds.

Recommendation

CP23A Notice

IRS CP23A notifies taxpayers that adjustments have been made to their tax return, which may affect the balance owed or refund amount.

Tax Transcript

A tax transcript is a document that summarizes key information from a taxpayer’s return, used for financial aid, mortgage loans, or income verification.

Self-Employment Tax

Self-employment tax is a Social Security and Medicare tax that individuals must pay when they work for themselves.

CP48 Notice

The CP48 notice alerts taxpayers to potential discrepancies in their tax return, prompting them to review their filings.

Levy Release

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

IRS Form 433-D: Installment Agreement

IRS Form 433-D is used by taxpayers to establish an installment agreement, allowing them to pay off their tax debt in monthly payments.

CP76A Notice

The CP76A notice serves as a reminder of potential underpayment of estimated taxes, prompting taxpayers to review their payments.

Letter 1615: Notice of Tax Lien Release

IRS Letter 1615 notifies taxpayers that the federal tax lien on their property has been released following the full payment or resolution of their tax debt.

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.

CP32A Notice

IRS CP32A notifies taxpayers that their refund check was returned due to an undeliverable address and provides steps to correct the issue.