Glossary

The CP138 Notice addresses penalties incurred due to filing duplicate extension requests for tax returns, guiding taxpayers on rectifying and preventing future issues.

Abatement for Incorrect Alternative Minimum Tax Reporting involves procedures to correct errors in AMT filings, preventing penalties and ensuring compliance.

Relief for Overstated Depreciation Expenses offers solutions for taxpayers to correct errors in reported depreciation on tax returns, ensuring compliance and avoiding penalties.

The CP145 Penalty is a notice issued by the IRS when a corporate tax return is submitted for an incorrect tax period. It explains the penalty implications and highlights the need for precise filing compliance.

Abatement for misreported interest income is a tax relief measure designed to correct inaccuracies in reported interest income and mitigate penalties imposed on taxpayers.

Relief for Incorrect Claim of Dependent Care Credits provides taxpayers with guidance on rectifying errors related to dependent care credits claimed incorrectly.

A waiver for underreported passive income allows taxpayers to potentially avoid penalties associated with failing to report income generated from passive sources like investments or rental properties.

The CP275C Penalty applies to partnerships that file incorrect tax returns. Proper understanding of these penalties is crucial to ensure compliance and avoid unnecessary costs.

Abatement for Missed Investment Income Reporting allows taxpayers to request relief from penalties due to unreported investment income, ensuring accurate tax compliance.

Relief for Incorrect Reporting of Royalties provides tax remedies for errors or omissions in royalty income submissions. It ensures compliance and minimizes penalties.