Glossary

CP80 Notice

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The CP80 notice is sent by the IRS when they have credited payments to a taxpayer’s account but have not yet received the tax return for the specified tax year. This notice informs the taxpayer that the IRS cannot process the payments fully without receiving the return.

Key details about CP80:

It alerts the taxpayer that payments have been credited, but the return is missing.
The notice may specify that penalties and interest could be applied if the return is not filed promptly.
It provides instructions for submitting the missing return or explaining why it has not been filed.

Taxpayers receiving a CP80 notice should ensure that their tax return is filed as soon as possible to avoid penalties or interest charges.

Recommendation

IRS Form 941: Employer’s Quarterly Federal Tax Return

IRS Form 941 is filed quarterly by employers to report wages, tax withholdings, and payments for Social Security and Medicare taxes.

Form 990-PF – Return of Private Foundation (previously noted but critical for private foundations)

Form 990-PF is a crucial return for private foundations, detailing financial information for tax purposes.

Form 4506-T – Request for Transcript of Tax Return (helpful for disaster recovery documentation)

Form 4506-T is essential for obtaining transcripts of tax returns, especially for disaster recovery documentation.

Form 7004 – Application for Automatic Extension of Time to File Certain Business Income Tax Returns (highlighted earlier)

Form 7004 is an application for an automatic extension of time to file certain business income tax returns.

Form 8911 – Alternative Fuel Vehicle Refueling Property Credit

Form 8911 is used to claim the Alternative Fuel Vehicle Refueling Property Credit on your tax return.

CP153 Notice

The CP153 notice informs taxpayers that their refund cannot be issued via direct deposit, and the IRS will send a paper check instead.

Form 9465 – Installment Agreement Request

Explore Form 9465, a crucial tool for taxpayers seeking to set up payment plans with the IRS.

CP504 Notice – Notice of Intent to Levy

IRS CP504 is a Notice of Intent to Levy, meaning the IRS plans to seize your assets if your unpaid taxes are not resolved.

Failure to Deposit Penalty

The Failure to Deposit Penalty is imposed on employers who fail to make timely federal tax deposits for payroll taxes, resulting in fines and interest charges.

CP92 Notice: Notice of Levy on State Tax Refund

The IRS CP92 Notice informs taxpayers that their state tax refund has been levied to satisfy federal tax debts, with instructions on next steps.