IRS Letters and Forms
CP294

CP294 — Campus notice only: Notification to SC Adjustments of a potential 15% FTD penalty on an account with Forms 940, 941, 943…

Campus notice only: Notification to SC Adjustments of a potential 15% FTD penalty on an account with Forms 940, 941, 943, 944, 945, or 1042.

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CP294

Read the notice carefully and note any deadline. Gather returns, notices, and payment records. Book a free strategy session before responding if the amount is large, unclear, or collection language appears.

What the IRS language says

Campus notice only: Notification to SC Adjustments of a potential 15% FTD penalty on an account with Forms 940, 941, 943, 944, 945, or 1042.

What it usually means

CP294 is in our IR Manual catalog. Official wording is dense — we translate it for business owners and individuals and map realistic next steps.

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