Automated Tax Credit - Tax Debt Resolution

Glossary

Installment Default Letter

An Installment Default Letter is a notification from the tax authority when a taxpayer fails to meet the terms of an installment payment agreement. It can lead to penalties and requires prompt attention.

CP89H Notice

The CP89H Notice is an IRS communication informing taxpayers of potential unidentified discrepancies in their returns, prompting them to verify and rectify their tax accounts.

Taxpayer Payment History

Taxpayer Payment History is a record of all tax payments made by an individual or entity. It is crucial for ensuring compliance and resolving any discrepancies.

CP523H Notice

The CP523H Notice is a critical IRS notification informing taxpayers of significant changes to their tax payment agreement or installment plan, impacting their financial obligations.

Default Installment Notice

A Default Installment Notice informs taxpayers of a missed installment in a payment plan with the tax authorities. Prompt action is necessary to avoid penalties.

CP504H Notice

The CP504H Notice is an IRS alert indicating an outstanding tax debt subject to collection actions unless resolved promptly.

Business Installment Update

A Business Installment Update is crucial for maintaining compliance with tax obligations, allowing businesses to adjust their installment payment plans based on current financial data.

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.