Glossary

CP58 Notice

The CP58 notice is sent by the IRS to inform taxpayers that they may be eligible for the Earned Income Credit (EIC) based on the information provided in their tax return. This notice serves to prompt taxpayers to review their eligibility and claim the credit if applicable.

Key points about CP58:

The notice outlines the potential benefits of claiming the EIC, which can significantly reduce tax liability and increase refunds.
Taxpayers are encouraged to verify their eligibility by reviewing their income and the number of qualifying children.
The notice may provide instructions on how to claim the credit on their tax return.

Receiving CP58 can help taxpayers maximize their refund potential by ensuring they take advantage of available credits.

Recommendation

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

IRS Letter 3172 is a notice that a federal tax lien has been filed against your property, giving the IRS a legal claim to your assets.

CP18 Notice

IRS CP18 notifies taxpayers that deductions or credits claimed on their return appear incorrect, and the IRS will review or adjust the return accordingly.

CP515 Notice: First Notice of Unfiled Return

IRS CP515 Notice informs taxpayers of an unfiled tax return and provides instructions for filing to avoid further penalties.

Letter 2604C: Rejection of Offer in Compromise

IRS Letter 2604C notifies taxpayers that their offer in compromise has been rejected and provides the reasons and steps to appeal or submit a new offer.

Letter 3219C: Statutory Notice of Deficiency

The IRS Letter 3219C, also known as a Statutory Notice of Deficiency, notifies taxpayers that they owe additional taxes and provides the option to contest it in tax court.

CP39 Notice: Refund Applied to Previous Year Taxes

The IRS CP39 Notice informs taxpayers that their refund has been applied to a previous year’s tax debt instead of being issued as a refund.

Amended Return (Form 1040X)

An Amended Return allows taxpayers to correct mistakes on a previously filed tax return by using IRS Form 1040X.

CP39 Notice

IRS CP39 notifies taxpayers that their current-year refund has been applied to a prior year’s unpaid tax debt.

Letter 105C: Claim Denied or Partially Disallowed

IRS Letter 105C notifies taxpayers that their claim for a tax credit or refund has been denied or partially disallowed and outlines steps for appeal.

CP12 Notice: Changes to Your Tax Return – Refund or Balance Due

IRS CP12 Notice informs taxpayers of changes made to their tax return due to miscalculations, and explains if a refund is due or a balance is owed.