Glossary

CP22 Notice

What is a CP22 Notice from the IRS?

A CP22 Notice from the IRS is a formal communication informing you that the IRS has made changes to your tax return based on information it received. These changes might affect the amount of your refund or the balance you owe. It’s not necessarily a sign of an error on your part, but it’s crucial to review it carefully.

  1. Glossary Article

Recommended for You

401(k) Contribution Limit

The 401(k) contribution limit is the maximum amount of money you can put into your 401(k) retirement account each year. Understanding this limit is key to maximizing your retirement savings and taking advantage of tax benefits.

Default Installment Notice

A Default Installment Notice informs taxpayers of a missed installment in a payment plan with the tax authorities. Prompt action is necessary to avoid penalties.

Workforce Electrification Workforce Energy Credit

Workforce Electrification Workforce Energy Credit is a tax credit aimed at incentivizing businesses to implement energy-efficient technologies and processes in their workforce. Key features include eligibility criteria, application procedures, and compliance mandates.

IRS Written Advice Reliance

IRS Written Advice Reliance offers taxpayers protection by allowing them to rely on written advice provided by the IRS. This ensures accurate compliance and reduces potential penalties for misunderstandings.

Tax Deed

A tax deed is a legal document that transfers ownership of a property due to unpaid property taxes. It’s often the result of a tax sale.

Agricultural Energy Credit

The Agricultural Energy Credit provides tax benefits to agricultural producers who invest in energy-efficient equipment. It encourages sustainable farming practices.

Form W-2: Wage and Tax Statement

Form W-2 is a vital tax document you receive from your employer, detailing your earnings and the taxes withheld from your pay for the year. This form is necessary to accurately file your annual tax return.

Smart Data Analytics Platforms Deduction

The Smart Data Analytics Platforms Deduction refers to tax deductions available for businesses investing in technology platforms focused on advanced data analytics. Understanding and utilizing this deduction can lead to significant tax savings for eligible companies.

CP504AT Notice

The CP504AT Notice is an IRS document informing taxpayers of outstanding tax debts and potential enforcement actions. Understanding and addressing this notice is crucial for financial compliance.

Taxpayer Assistance Letter

The Taxpayer Assistance Letter is a communication from the IRS or local tax authorities aimed at addressing specific taxpayer queries or concerns, aiding in tax issue resolution.