Glossary

The CP225 Notice informs employers of late quarterly payroll tax filings, detailing any penalties and corrective measures needed to avoid further issues.

Relief for Incorrect Reporting of Tax Shelters offers taxpayers an opportunity to rectify unintentional reporting errors, ensuring compliance and avoiding penalties.

CP151 Penalty applies when there is a late filing of trust tax returns, ensuring timely compliance with tax obligations to avoid penalties.

Abatement for Misreported Farm Income involves correcting and potentially reducing penalties related to misreported agricultural earnings on tax returns.

The CP271 penalty is imposed by the IRS for late filing of amended tax returns. It’s crucial for taxpayers to understand this penalty to avoid unnecessary charges.

Relief for Incorrect Energy Efficiency Credits provides taxpayers guidance on correcting errors related to energy efficiency tax credits. This ensures compliance and fosters accurate tax reporting.

Abatement for Missed Employee Benefits Reporting allows employers to rectify unreported employee benefits without incurring severe penalties, facilitating compliance with tax laws.

A waiver for incorrect business expense filings allows businesses to avoid penalties for filing errors, provided they meet certain criteria and comply with regulations.

The CP166 Notice informs taxpayers about penalties assessed due to incorrect or late federal tax deposits. Understanding its implications can help avoid future issues.

Learn how to obtain relief for overstated home equity loan interest deductions, ensuring compliance with IRS guidelines and avoiding penalties.