Lesson 7
This is a good resource for information, since it is written for taxpayers
What is PUB 17
This one common error that the taxpayer often neglects to do
What is BRINGING A TOTAL FORWARD FROM A SUPPORTING FORM OR SCHEDULE
Taxpayers who are age 50 and older can claim this additional amount for their IRA deduction
What is $1,000
A fiscal year return for 202503 would use the standard deduction and exemption amounts from what year
What is 2024
This TPNC states "we adjusted the Clean Vehicle Credit you claimed on your tax return because you either calculated or transferred the credit from Form 8936, Clean Vehicle Credits, incorrectly"
What is TPNC 833
This may be claimed incorrectly by Taxpayers
What is FILING STATUS CODE
These are taxed at a lower rate than ordinary income, like the long-term capital gains rate
What are QUALIFIED DIVIDENDS
Taxpayers can claim any of these on line 16 of Schedule 1
What is SELF EMPLOYED SEP, SIMPLE, AND QUALIFIED PLAN CONTRIBUTIONS
If the Taxpayer checks box 18 on Schedule A it is an indication of this
What is an ITEMIZED ELECTION
This TPNC states "each dependent listed on your tax return must have a valid SSN or ITIN. For one or more of your dependents, the SSN or ITIN was missing or the last name provided doesn’t match our records or the records provided by the Social Security Administration. As a result, we disallowed certain credits claimed on your return"
What is TPNC 705
These are the eight Filing Status Codes
What are THE 5 STANDARD FSC's 1, 2, 3, 4, 5 AND THE 3 INTERNAL FSC's 6, 7, and 0.
Daily Double Double the points if you can tell us what each of the status' represents
The amount reported as taxable Social Security benefits can never be more than 85 percent of this
What are GROSS SOCIAL SECURITY BENEFITS
This is the maximum deduction allowed for Student Loan Interest
What is $2,500
A taxpayer who paid someone to care for a child or other qualifying person so the taxpayer (and taxpayer’s spouse if filing jointly) could work, or look for work, may be able to claim a credit on this
What is FORM 2441
This TPNC states “We changed the amount claimed as medical and dental expenses on your Schedule A, Itemized Deductions, because it was figured incorrectly”
What is TPNC 177
Both of these things will need to be adjusted for a critical entity change
What is ENMOD and OLNR
This will always need to be corrected if the net profit on Schedule C or F is changed
What is SELF- EMPLOYMENT TAX
The maximum deduction of $600 can be claimed if the taxpayer and their spouse filing a joint return are both these
What are ELIGIBLE EDUCATORS
If the taxpayer (or taxpayer’s spouse) was a nonresident alien for any part of 2025 and did not elect to be treated as a resident alien for tax purposes they cannot take this credit
What is AN EDUCATION CREDIT
This TPNC states "we changed the amount of tax on your tax return. The deceased taxpayer was not eligible for exclusion of income tax under Internal Revenue Code Section 692. The Internal Revenue Service was notified of all qualifying individuals and the taxpayer on your tax return was not one of those eligible"
What is TPNC 650
This is affected if the taxpayer's filing status is incorrect
What is the STANDARD DEDUCTION
If Form 8582 or Form 6198 are attached or PAL is notated on an additional income schedule, this would indicate that the taxpayer is doing this
What is LIMITING THEIR LOSS
If the taxpayer is covered by a retirement plan at work or through self-employment, this may be reduced or disallowed
What is THE IRA DEDUCTION
This is the maximum amount of CTC for each qualifying child with the required timely SSN
What is $2,200
This TPNC states "We didn’t allow the amount claimed for new motor vehicle taxes on Schedule A, Itemized Deductions, filed with your tax return. You are not allowed to claim both the state and local general sales tax and new motor vehicle tax"
What is TPNC 589