Glossary

CP22A Notice

What is a CP22A Notice from the IRS and What Does it Mean For Me?

A CP22A Notice is an official communication from the Internal Revenue Service (IRS) informing you that a change has been made to your tax account. This change often involves an adjustment to a tax credit or deduction claimed on your tax return, either increasing or decreasing your tax liability.

Glossary Article

Recommended for You

Public Workforce Energy Electrification Job Credit

The Public Workforce Energy Electrification Job Credit incentivizes businesses to create and sustain jobs in the renewable energy sector. It supports the transition to a more sustainable economy by providing tax benefits.

Urban Job Accessibility Workforce Credit

The Urban Job Accessibility Workforce Credit is a tax incentive aimed at increasing job opportunities and accessibility in urban areas, fostering economic growth.

Form 5500 – Annual Return/Report of Employee Benefit Plan

Form 5500 is an annual report that employee benefit plans must file with the IRS and the Department of Labor. It provides detailed information about a plan’s financial condition and operations.

Form 656-L – Offer in Compromise (Doubt as to Liability)

Form 656-L is used when you believe you don't actually owe the IRS the tax they say you do. This can be a way to resolve tax debt based on a dispute, rather than financial hardship.

Loss from Rejected Business Deliveries Deduction

The 'Loss from Rejected Business Deliveries Deduction' refers to a provision allowing businesses to reduce taxable income from products or services rejected by clients.

Form 8233 – Exemption From Withholding on Compensation for Independent Personal Services of a Nonresident Alien Individual

Form 8233 allows eligible nonresident aliens to claim exemption from U.S. income tax withholding on compensation for independent personal services, based on tax treaties. It helps avoid overpayment of taxes.

Form 8884 – New York Liberty Zone Business Employee Credit

Form 8884 is used by businesses that operate in the New York Liberty Zone to claim a tax credit for employing workers there. This credit can help reduce a business's tax liability.

Form 8835 – Renewable Electricity Production Credit

Form 8835 is used to claim the renewable electricity production credit, a tax incentive designed to encourage the generation of electricity from renewable resources. This credit can significantly reduce the tax liability for businesses that invest in clean energy.

Rural Workforce Electrification Training Credit

The Rural Workforce Electrification Training Credit is a tax incentive aimed at upskilling workers in rural energy sectors, promoting workforce development.

Estate Tax Liens

Estate tax liens are legal claims by the government on a deceased individual's estate to ensure payment of outstanding estate taxes. They are crucial in estate settlement processes.

Business Payment Plan

A Business Payment Plan allows businesses to manage their tax liabilities through structured payment arrangements with tax authorities.

Urban Solar Power Tax Credit

The Urban Solar Power Tax Credit incentivizes urban homeowners to invest in solar energy by providing significant tax deductions to offset installation costs.

Fleet Electrification Program Costs Deduction

The Fleet Electrification Program Costs Deduction helps businesses transition to electric vehicles by allowing deductions related to electrification expenses, promoting sustainability and cost efficiency.

IRS Waiver Approval Timelines

An insight into IRS waiver approval timelines, detailing the process, requirements, and significance in tax compliance and financial planning.

Public Utility Workforce Inclusion Credit

The Public Utility Workforce Inclusion Credit is a tax incentive encouraging utility companies to hire a diverse workforce, promoting employment inclusion.

IRS Agreement Modification Letter

The IRS Agreement Modification Letter is a tool for taxpayers to request changes to existing payment agreements due to financial shifts. It's vital for staying compliant with revised payment capacities.

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.

Tax Foreclosure Hearing Protocols

Tax Foreclosure Hearing Protocols guide the legal process through which governments foreclose on properties due to unpaid taxes. These protocols are essential for ensuring lawful procedure.

Priority Tax Status

Priority Tax Status refers to a classification used by tax authorities to highlight certain filings or obligations that require immediate attention or satisfy specific criteria for prioritization in processing or compliance.

Low-Income Urban Development Credit

The Low-Income Urban Development Credit supports affordable housing and infrastructure improvements in underserved urban areas by offering tax incentives to developers.