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IRS CP2000 Notice

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?

  1. Read the notice carefully – it explains the info the IRS received and how it affects your tax return.
  2. Complete the notice response form whether you agree or disagree with the notice.
  3. 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.
  4. Consider whether the mistake may have affected other tax returns such as your state income tax return.
  5. 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.