Automated Tax Credit - Tax Debt Resolution

Glossary

IRS Appeal Form

The IRS Appeal Form enables taxpayers to formally contest IRS decisions. Understanding the process can crucially impact tax dispute outcomes.

Taxpayer Refund Offset

Taxpayer Refund Offset is a program that redirects a taxpayer's refund to settle outstanding debts like federal student loans or child support.

Reinstatement Fee

A Reinstatement Fee is a charge imposed to restore the status of a taxpayer after a lapse in compliance, often related to tax filings or payment deadlines.

IRS Payment Policy

The IRS Payment Policy outlines methods and requirements for taxpayers to pay owed taxes. Understanding this policy is crucial for compliance and avoiding penalties.

CP89C Notice

The IRS sends the CP89C Notice to inform taxpayers of significant changes to their tax accounts, often after identifying and correcting discrepancies in prior returns.

Business Default Notice

A Business Default Notice alerts a business to a default in tax-related obligations, outlining required actions to avoid further financial or legal consequences.

Revenue Officer Review

A Revenue Officer Review is an IRS process where a revenue officer assesses a taxpayer’s financial situation and compliance with tax obligations to resolve outstanding issues.

Penalty Forgiveness

Penalty forgiveness refers to relief measures that alleviate penalties imposed for tax non-compliance, facilitating financial recovery and compliance.

Installment Cancellation

Installment Cancellation refers to the termination of an agreed-upon payment arrangement for tax debt. It plays a crucial role in managing tax obligations.

Direct Debit Mandate

A Direct Debit Mandate authorizes an entity to automatically withdraw funds from a taxpayer’s bank account to satisfy tax liabilities or obligations.