Glossary

CP48 Notice

What does it mean to receive a CP48 Notice from the IRS?

A CP48 Notice from the IRS indicates that you had an overpayment on your tax return and instead of sending a refund check, the IRS has applied that overpayment as a credit toward your next year’s estimated taxes. This notice provides details about how much was applied and where it was applied.

  1. Glossary Article

Recommended for You

Delinquent Taxes

Delinquent taxes are unpaid taxes that have passed their due date. Understanding how taxes become delinquent and what to do about it is essential for financial health.

Abatement for Foreign Tax Complications

Abatement for Foreign Tax Complications refers to adjustments or exceptions granted to taxpayers dealing with complexities in international taxation to prevent double taxation and ensure compliance with foreign tax obligations.

Taxpayer Advocate

The Taxpayer Advocate is an independent entity within the IRS that assists taxpayers with unresolved tax issues and advocates for taxpayer rights.

CP503F Reminder

The CP503F Reminder is a notice from the IRS indicating unpaid taxes. This notice emphasizes urgent tax compliance to avoid penalties and additional interest.

Foreclosure Litigation Costs

Foreclosure litigation costs refer to the expenses incurred during legal proceedings involving property foreclosures, which have specific tax implications and compliance requirements.