Glossary

CP259 Notice: Return Delinquency Notice

What is a CP259 Notice: Return Delinquency Notice?

A CP259 notice is a formal communication from the IRS informing a taxpayer that a required tax return has not been filed. This notice serves as an initial warning, urging the taxpayer to submit the missing return and potentially avoid penalties and further collection actions.

Glossary Article

Recommended for You

Digital Payment Processing Fees Deduction

Digital Payment Processing Fees Deduction involves deducting the fees incurred from accepting digital payments as a business expense on your taxes.

Electric Heat Pump Tax Credit

The Electric Heat Pump Tax Credit provides financial incentives for homeowners who install energy-efficient heat pumps, aiming to reduce carbon footprints.

Residential Carbon Emission Reduction Credit

The Residential Carbon Emission Reduction Credit is a tax incentive encouraging homeowners to reduce carbon emissions by making eco-friendly improvements.

Penalty Forgiveness

Penalty forgiveness refers to relief measures that alleviate penalties imposed for tax non-compliance, facilitating financial recovery and compliance.

Affordable Renewable Workforce Equity Training Credit

The Affordable Renewable Workforce Equity Training Credit is a tax incentive designed to support the training and development of a diverse workforce in renewable energy sectors. It aims to promote equitable growth and opportunities within the green energy industry.

Renewable Workforce Climate Adaptation Credit

The Renewable Workforce Climate Adaptation Credit is a tax incentive designed to promote job creation in the renewable energy sector and support climate resilience initiatives.

Hybrid Vehicle Battery Tax Credit

The Hybrid Vehicle Battery Tax Credit encourages consumers to purchase hybrid vehicles by providing a tax credit. Understand its key features and filing requirements.

IRS Letter 668(W): Notice of Levy on Wages, Salary, and Other Income

An IRS Letter 668(W) is a formal notice that the IRS is taking a portion of your wages or other income to pay off back taxes. It's a serious letter that needs immediate attention.

Partial Lien Release Requests

Partial Lien Release Requests enable taxpayers to request a release of a portion of a lien on their property, facilitating financial flexibility and compliance.

State Public Library Renovation Credit

The State Public Library Renovation Credit offers tax incentives for the renovation of public libraries, encouraging improvements in educational infrastructure.

Employee Career Development Services Deduction

The Employee Career Development Services Deduction helps employers save on taxes by deducting expenses related to employee development programs.

Abatement for Duplicate Quarterly Tax Filings

Abatement for Duplicate Quarterly Tax Filings helps taxpayers rectify duplicate tax submissions, avoiding penalties and ensuring compliance with tax authorities.

Weatherproofing Costs for Business Deduction

Weatherproofing costs for businesses can be tax-deductible, offering financial relief while enhancing property protection. Learn how to claim these deductions.

Excess Funds Trust Accounts

Excess Funds Trust Accounts are specialized accounts that hold surplus funds often derived from tax sales or other financial transactions. They play a crucial role in financial and tax compliance.

Renewable Workforce Electrification Resilience Credit

The Renewable Workforce Electrification Resilience Credit is a tax incentive aimed at promoting sustainable workforce initiatives through electrification and resilience enhancements.

Municipal EV Grid Resilience Credit

The Municipal EV Grid Resilience Credit incentivizes municipalities to enhance electric vehicle grid infrastructure. It promotes resilience and aims to reduce tax liabilities associated with these projects.

Small Business Renewable Job Development Credit

The Small Business Renewable Job Development Credit focuses on incentivizing small businesses to create jobs within the renewable energy sector, offering tax credits for eligible developments.

Tax Return Transcript

A tax return transcript is a summary of your tax return information from the IRS. It’s not a copy of your actual tax form but an official record of what the IRS has on file.

Remote Employee Tools Deduction

Remote Employee Tools Deduction allows remote workers to claim tax deductions on specific tools and expenses necessary for their job. Understand its features and compliance to optimize your tax filings.

Green Workforce Certification Credit

The Green Workforce Certification Credit is a tax incentive encouraging businesses to train and certify workers in sustainable practices, thereby reducing environmental impact and supporting eco-friendly industry growth.