Glossary

CP48 Notice

The CP48 notice is sent by the IRS to alert taxpayers of potential issues found in their tax return that could lead to a balance due. This notice serves as a prompt for taxpayers to review their return for accuracy and completeness.

Key points about CP48:

The notice outlines specific areas of concern or discrepancies identified by the IRS.
Taxpayers are encouraged to make necessary corrections to their return to avoid penalties or increased tax liability.
The notice may include deadlines for addressing the identified issues.

Taxpayers receiving CP48 should act quickly to review their return and address any concerns to minimize the risk of incurring additional taxes or penalties.

Recommendation

Letter 3753: Self-Employed Tax Debt Notice

IRS Letter 3753 notifies self-employed taxpayers of unpaid taxes and provides options for paying or resolving the debt.

CP21A Notice: Changes to Your Return; Balance Due

The IRS CP21A Notice informs taxpayers that their return was adjusted, resulting in additional tax owed.

Installment Agreement (IA)

An Installment Agreement is a payment plan that allows taxpayers to repay their tax debt over time in monthly installments.

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.

Letter 3127C

IRS Letter 3127C confirms that changes have been made to an existing Installment Agreement, including revised payment amounts and due dates.

CP504B Notice

The CP504B notice warns taxpayers that the IRS intends to levy their federal payments, such as Social Security or government benefits, to satisfy unpaid taxes.

CP504B Notice: Intent to Levy on State Tax Refund

IRS CP504B Notice warns taxpayers of a pending levy on their state tax refund to satisfy unpaid federal tax debt, providing last-minute options to prevent the levy.

IRS Form 12153: Request for a Collection Due Process (CDP) Hearing

IRS Form 12153 is used to request a Collection Due Process (CDP) hearing to appeal IRS enforcement actions, such as liens or levies.

CP71C Notice: Annual Reminder of Balance Due on Tax Debt

IRS CP71C Notice serves as an annual reminder to taxpayers that they have an outstanding balance due on their tax debt and provides payment instructions.

Letter 2050: Request to Contact IRS for Unpaid Taxes

IRS Letter 2050 asks taxpayers to contact the IRS about resolving their unpaid taxes to avoid more aggressive collection actions.