Automated Tax Credit - Tax Debt Resolution

Glossary

Taxpayer Hardship Appeal

A Taxpayer Hardship Appeal allows individuals facing financial difficulties to seek relief from certain tax obligations, providing an opportunity to maintain financial stability.

Payment Adjustment Form

The Payment Adjustment Form is used to correct or update tax payments, ensuring accurate financial records and compliance with tax regulations.

Business Debt Relief

Business Debt Relief involves strategies and programs designed to help businesses manage and resolve outstanding debts, ensuring compliance with tax obligations and maintaining financial stability.

CP504B Notice

The CP504B Notice is sent by the IRS to notify taxpayers of owed federal taxes. It serves as a final reminder before initiating levy actions on your account.

Revenue Officer Approval

Revenue Officer Approval is a critical step in tax resolution processes where IRS officials authorize decisions related to tax collection or compliance issues.

Payment Extension Request

A Payment Extension Request is a formal appeal to delay a tax payment deadline. It helps taxpayers avoid penalties by allowing additional time to settle dues.

CP521A Notice

The CP521A Notice is an IRS notification sent to taxpayers about their installment agreements. It provides crucial details on payment terms, compliance, and any necessary actions.

Asset Liquidation

Asset Liquidation refers to converting assets into cash to satisfy debts or liabilities, a vital step in tax and financial compliance.

Quarterly Payment

Quarterly Payments are crucial for taxpayers with non-withholding income, ensuring timely tax contributions and avoiding penalties through estimated tax installments.

CP503B Reminder

The CP503B Reminder is a notice issued by the IRS to prompt taxpayers about overdue tax payments. It serves as an initial reminder to take immediate action to avoid further penalties.