Automated Tax Credit - Tax Debt Resolution

Glossary

Waiver for First-Time Filing Errors

The 'Waiver for First-Time Filing Errors' is an IRS provision that mitigates penalties for taxpayers making mistakes in their initial tax filings, encouraging compliance and transparency.

Penalty for Withholding Underreporting

The Penalty for Withholding Underreporting is a tax penalty imposed when an entity fails to accurately report the taxes withheld on payments. It ensures compliance and accurate tax reporting.

CP2000 Penalty Reassessment

The CP2000 Penalty Reassessment involves evaluating discrepancies in reported income and recalculating associated penalties, crucial for correct tax compliance.

CP14 Late Payment Notice Appeal

The CP14 Late Payment Notice is a crucial IRS communication sent to notify taxpayers of a balance due on their tax account. This guide explores how to appeal such notices effectively.