Glossary

The Waiver for Incorrect Estate Tax Calculations helps taxpayers address miscalculations in estate tax filings without incurring penalties. It ensures compliance and financial accuracy.

CP223G Penalty addresses misreporting of business income. Understand its impact, compliance requirements, and how to avoid financial penalties.

Abatement for Late Non-Profit Tax Filings involves reducing or eliminating penalties imposed on late tax submissions by non-profit organizations, emphasizing compliance and financial management.

The CP276G Notice addresses incorrect foreign asset reporting. It guides taxpayers in compliance to avoid substantial penalties from oversight in asset declarations.

Relief for Misreported Local Taxes Paid offers taxpayers a chance to correct and recover funds from incorrect local tax filings, ensuring financial compliance.

Abatement for Overstated Business Expense Deductions helps businesses rectify inaccuracies in reported expenses, avoiding penalties and excessive taxation.

The CP254 Notice is issued by the IRS to S-Corporations when underreporting of income is detected, highlighting necessary actions to rectify discrepancies.

The Waiver for Incorrectly Claimed Exemptions allows taxpayers to correct exempt status mistakes without penalties, promoting accurate tax reporting.

Abatement for Duplicate Foreign Income Reporting is a relief process that addresses overreporting of foreign income due to duplicate representations in tax filings, helping taxpayers avoid unnecessary taxation.

Relief for Incorrect Charitable Donation Reporting refers to the IRS procedures that allow taxpayers to rectify errors made when reporting charitable contributions, ensuring compliance and minimizing penalties.