Glossary

The CP305D penalty addresses inaccuracies when taxpayers overstate deductions related to passive income, potentially leading to significant financial penalties.

Explore how to address duplicate business tax credits, ensuring compliance and optimizing your tax benefits.

A 'Waiver for Overstated Foreign Asset Credits' allows taxpayers to rectify inflated foreign asset credit claims on their tax filings, helping avoid penalties.

The CP211G notice details penalties on duplicate real estate income filings. It outlines causes, penalties, and compliance measures to prevent issues.

Abatement for Misreported Long-Term Care Premium Payments addresses errors in reporting LTC premium payments on tax returns, helping taxpayers avoid penalties.

CP299G addresses penalties for taxpayers who claim duplicate state income deductions, outlining the consequences and steps for compliance.

Relief for overstated business energy tax credits addresses situations where businesses inadvertently claim excessive energy tax credits, offering solutions to rectify these errors and avoid penalties.

The waiver for incorrectly reported adoption tax credits helps taxpayers rectify errors without penalties, ensuring compliance and accuracy in tax filing.

The CP276G notice from the IRS penalizes taxpayers for overstating deductions linked to home equity loans. It ensures accurate tax reporting and compliance.

Abatement for Duplicate Small Business Tax Filings involves rectifying multiple tax submissions and understanding the IRS process for removing penalties due to these errors.