The 401(k) contribution limit sets the maximum amount employees can contribute to their employer-sponsored retirement plan each year, offering significant tax benefits.
The IRS CP92 Notice informs taxpayers that their state tax refund has been levied to satisfy federal tax debts, with instructions on next steps.
IRS CP71 is an annual reminder that a taxpayer has an unpaid balance on their account, including a breakdown of taxes, penalties, and interest owed.
First-Time Abatement (FTA) is a relief program that allows taxpayers to remove IRS penalties if they have a history of compliance.
IRS CP515 Notice informs taxpayers of an unfiled tax return and provides instructions for filing to avoid further penalties.
Back taxes are unpaid taxes from previous years, and failure to pay them can result in penalties, interest, and collection actions by the IRS.
The IRS CP49 Notice notifies taxpayers that their refund has been applied to federal debts other than taxes, such as student loans or federal benefit overpayments.
An IRS Payment Plan allows taxpayers to pay their tax debt in monthly installments over time, helping them manage large tax liabilities.
A federal tax lien is a legal claim against your property, including real estate, vehicles, and financial assets, for unpaid tax debt.
A Collection Information Statement (CIS) is a financial disclosure form that taxpayers submit to the IRS when requesting payment plans or other tax relief options.