Glossary

CP148 Notice

The CP148 notice is sent by the IRS when there is a name or Social Security Number (SSN) mismatch between the information provided on the taxpayer’s return and the IRS’s records. This issue can result in delays in processing the return or issuing a refund.

Key points about CP148:

The notice identifies the discrepancy and provides instructions for correcting the information.
Taxpayers must update their return or provide additional documentation to resolve the mismatch.
Failing to correct the information can result in delayed refunds or other tax issues.

Taxpayers receiving CP148 should act quickly to correct the mismatch and ensure their return is processed without further delays.

Recommendation

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.

CP521 Notice: Reminder of Installment Agreement Payment Due

The IRS CP521 Notice serves as a reminder to taxpayers that their next installment agreement payment is due and outlines the steps for making the payment.

CP49 Notice

IRS CP49 is sent when the IRS applies a taxpayer’s refund to a prior year’s unpaid tax debt.

Tax Extension

A tax extension gives taxpayers an additional six months to file their tax return, but they must still pay any taxes owed by the original deadline.

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 3172: Notice of Federal Tax Lien and Your Right to a Hearing

IRS Letter 3172 informs taxpayers that a federal tax lien has been filed on their property due to unpaid taxes and provides instructions on how to request a hearing.

Fraud Penalty

The IRS imposes a fraud penalty of 75% of the underpayment for taxpayers who intentionally evade paying taxes through fraudulent actions.

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.

Letter 2272C: Request for Collection Information

The IRS Letter 2272C asks taxpayers to provide detailed financial information to assist the IRS in determining eligibility for payment plans or other collection options.

Form 4868: Application for Automatic Extension of Time to File UIndividual Income Tax Return

IRS Form 4868 grants taxpayers an automatic six-month extension to file their federal income tax return.