Resources
Tax and crypto glossary
Plain-English definitions of the terms that show up in IRS letters, crypto tax reports, offshore disclosures, and opinion letters, written by the attorneys and accountants who deal with them every day. Each term links to the guide or service page where we go deeper.
Browse by topic: All terms Business and Corporate (18) Crypto Tax (71) International Tax (24) IRS Forms (47) IRS Notices and Letters (10) Opinion Letters (4) Tax Controversy (68) Web3 Regulation (7)
Showing 10 terms in IRS Notices and Letters.
H
- Historical Digital Asset Form
- The Historical Digital Asset Form is an IRS examination document, seen in crypto audits since 2025, that asks taxpayers to disclose every wallet and exchange account they have controlled and the history of each.
L
- Letter 1058 and LT11 (final notice of intent to levy)
- Letter 1058 and LT11 are the IRS final notices of intent to levy and notice of your right to a hearing, after which the IRS may seize wages, bank accounts, and other property unless you respond within 30 days.
- Letter 525 (30-day letter)
- Letter 525 is the IRS examination report and 30-day letter issued at the end of an audit, proposing changes to your return and giving you 30 days to agree or to protest to the Independent Office of Appeals.
N
- Notice CP14
- Notice CP14 is the first bill the IRS sends when a return shows a balance due that was not paid, stating the tax, penalties, and interest owed and a payment deadline.
- Notice CP2501
- Notice CP2501 is an early income mismatch notice, sent before a CP2000, telling you that information reported by third parties does not match your return and asking you to respond or explain.
- Notice CP3219A (statutory notice of deficiency)
- Notice CP3219A is the statutory notice of deficiency issued after a CP2000 or audit goes unresolved, stating the tax the IRS intends to assess and starting the 90-day period to petition the Tax Court.
- Notice CP508C
- Notice CP508C tells a taxpayer that the IRS has certified a seriously delinquent tax debt to the State Department, which can deny a passport application or renewal and may revoke an existing passport.
- Notice CP75
- Notice CP75 tells you the IRS is auditing your return to verify the earned income credit, head of household status, or dependents, and holds the related refund until you send documentation.
- Notice of federal tax lien
- A notice of federal tax lien is the public filing that establishes the government's claim against a taxpayer's property for an unpaid assessed tax, filed after a demand for payment goes unpaid.
- Notices CP501, CP503, and CP504
- Notices CP501, CP503, and CP504 are the IRS reminder sequence for an unpaid balance, escalating from a first reminder to a notice that the IRS intends to levy state tax refunds and may file a lien.
