Glossary

CP03 Notice

The CP03 notice is issued by the IRS to inform taxpayers that their tax return is currently being processed. This notice provides updates on the status of the return and includes information on the expected timeline for receiving a refund.

Key points in CP03:

The notice indicates that the IRS has received the tax return and is in the process of verifying the information reported.
It may provide an estimated timeframe for when the taxpayer can expect to receive their refund if applicable.
If the taxpayer has any questions or concerns regarding their return, the notice includes contact information for the IRS.

Receiving CP03 helps taxpayers stay informed about the status of their tax return and refund, offering peace of mind during the processing period.

Recommendation

CP297C Notice: Intent to Levy on Government Payments

IRS CP297C Notice warns taxpayers of the IRS’s plan to levy federal payments, such as Social Security or government contracts, due to unpaid taxes.

IRS Form 8379: Injured Spouse Allocation

IRS Form 8379 is used by an injured spouse to reclaim their share of a joint tax refund if it was applied to their spouse’s tax debt.

CP27 Notice: Earned Income Credit Eligibility

The IRS CP27 Notice notifies taxpayers of potential eligibility for the Earned Income Credit and provides instructions on how to claim it.

CP3219A Notice: Statutory Notice of Deficiency

IRS CP3219A Notice warns taxpayers that they owe additional taxes due to a deficiency found on their return, and outlines their right to dispute it in tax court.

CP521 Notice: Monthly Installment Agreement Statement

IRS CP521 Notice is a monthly statement for taxpayers with an installment agreement, outlining payment status and remaining balance.

CP523I Notice: Installment Agreement Default – Intent to Terminate and Levy Income

IRS CP523I Notice notifies taxpayers of a default in their installment agreement and warns of income levies if the account is not brought current.

CP14A Notice: Additional Balance Due on Prior Year Taxes

The IRS CP14A Notice informs taxpayers of additional taxes due from a prior year and provides payment options.

Tax Withholding Estimator

The IRS Tax Withholding Estimator helps taxpayers calculate and adjust the correct amount of taxes withheld from their paychecks.

CP75 Notice

IRS CP75 is sent to request additional documentation to verify Earned Income Credit (EIC) claims or other credits on a tax return.

Failure to Deposit Penalty

The Failure to Deposit Penalty is imposed on employers who fail to make timely federal tax deposits for payroll taxes, resulting in fines and interest charges.