IRS CP2000 Notice
Did you receive an IRS CP2000 Notice? What is the purpose of the CP2000 Notice? This notice means the income and/or payment information the IRS has on file (from a 1099 or W-2) doesn’t match the information the taxpayer reported on his tax return. This could affect your tax return; it may cause an increase or decrease in your tax, or may not change it at all.
What should you do upon receipt of a CP2000 Notice?
- Read the notice carefully – it explains the info the IRS received and how it affects your tax return.
- Complete the notice response form whether you agree or disagree with the notice.
- If the info is wrong, contact the business or person who reported it to the IRS and ask them to correct it. Then, provide this corrected info to the IRS.
- Consider whether the mistake may have affected other tax returns such as your state income tax return.
- Contact a CPA if you need professional help.
For further details on the IRS CP2000 Notice, visit the IRS website: Understanding your CP2000 Notice.
Contact Chicago CPA and business lawyer Brian J. Thompson at Brian@BrianThompsonLaw.com if you need professional tax help.