Glossary

Abatement for Erroneous Refund Claims refers to the IRS process of removing penalties for refunds issued in error due to taxpayer or service mistakes. It's essential for rectifying and resolving tax discrepancies.

A waiver for incorrect agricultural filings allows taxpayers to correct errors in their agricultural tax filings without facing penalties.

Relief for Incorrect Foreign Tax Credits provides solutions for taxpayers who have inaccurately claimed foreign tax credits, helping to rectify errors and maintain compliance.

CP152 is a notice issued by the IRS regarding penalties for providing incorrect direct deposit information on a tax return, affecting refund processing.

Abatement for late filing of S-Corporation returns involves seeking a reduction or elimination of penalties due to late submission. It's crucial for maintaining financial compliance and avoiding additional IRS penalties.

The Waiver for Misreported Stock Options enables taxpayers to correct inaccuracies in how stock options were reported, minimizing potential penalties.

Guidance for taxpayers to correct mistakes in home office deduction claims on their tax returns, minimizing risks of penalties and ensuring compliance.

Abatement for Missed Filing Deadlines helps taxpayers reduce or eliminate penalties incurred from late tax filing, ensuring compliance and easing financial burdens.

CP276 Late Filing Penalty for Non-Filers highlights the consequences imposed by tax authorities for failing to file required tax returns within deadlines.

Relief for late filing due to the pandemic helps taxpayers avoid penalties if they file taxes late because of COVID-19 challenges, ensuring compliance and financial stability.