Automated Tax Credit - Tax Debt Resolution

Glossary

CP504P Notice

The CP504P Notice is an IRS notification indicating overdue tax balances which may lead to levy actions if unresolved. Understanding its implications is crucial for compliance.

Installment Plan Waiver Request

An Installment Plan Waiver Request allows taxpayers to apply for reconsideration of their current tax payment plan agreements. This process can help adjust terms to better align with individual financial circumstances.

CP503N Reminder

The CP503N Reminder is a notice sent by the IRS to inform taxpayers of impending penalties, urging immediate attention to unresolved tax balances before enforcement actions.

Monthly Payment Verification

Monthly Payment Verification ensures consistent and accurate payment of taxes or regulatory dues, maintaining compliance with established financial agreements.

CP89O Notice

The CP89O Notice is an IRS document sent to taxpayers alerting them of major changes in their tax account due to discrepancies or errors found in past returns.

CP523O Notice

The CP523O Notice is an IRS document informing taxpayers of critical changes in their tax account, impacting compliance and potential resolutions.

Payment Agreement Denial

Payment Agreement Denial involves the IRS or another tax authority rejecting a proposed installment agreement or payment plan. This can lead to increased financial scrutiny and potential penalties if not addressed.

CP504O Notice

The CP504O Notice is an important IRS document notifying taxpayers of imminent levy actions due to unpaid taxes. It emphasizes immediate attention to avoid penalties.