Automated Tax Credit - Tax Debt Resolution

Glossary

Business Revenue Adjustment

Business Revenue Adjustment refers to the process of modifying reported revenue figures to align with accurate financial data and tax regulations.

IRS Payment Duration

IRS Payment Duration refers to the time frame allocated for taxpayers to settle their tax liabilities with the IRS. It ensures compliance and timely resolution of owed amounts.

CP503E Reminder

The CP503E Reminder is an IRS notice informing taxpayers of overdue tax amounts. Prompt action is required to avoid penalties and ensure compliance.

IRS Financial Review

The IRS Financial Review is an assessment process used by the IRS to evaluate a taxpayer’s financial health and compliance, primarily focusing on tax obligations.

CP89E Notice

The CP89E Notice, issued by the IRS, informs taxpayers of critical changes to their tax account. It highlights necessary adjustments, impacts on refunds, and required actions.

IRS Notice of Default

The IRS Notice of Default notification from the IRS indicates a taxpayer’s failure to meet specific obligations or terms, often requiring prompt action to avoid penalties.

CP521E Reminder

The CP521E Reminder is an IRS notice sent to taxpayers who have an existing installment agreement. It serves as a reminder of the scheduled payment due under this agreement.