It’s best to get in touch with the IRS at least one week before the deadline. It’s always best to respond to an IRS notice before the deadline in the notice, but you can ask for more time. If you suspect you might be the victim of identity theft, contact the IRS and your state tax agency. If you’re not sure how to proceed, you might need a bit more time.
- Once you understand your position with the IRS, we can also help you enlist support to deal with the IRS.
- If you want to contest the proposed changes, complete and return the response form indicating that you disagree.
- If you agree with the proposed changes, complete, sign and date the Response form (we require both spouses’ signatures if you filed married filing jointly) and return it in the enclosed envelope.
- The action you just performed triggered the security solution.
- But CP2000 notices are computer-generated and may not be right.
In that case, you may want to seek help from an enrolled agent at a tax resolution company. These tax resolution specialists can help with any aspect of your taxes, including representing you before the IRS. The worst thing you can do when you receive a CP2000 is to ignore it, which will almost certainly result in additional penalties and interest. Self-Employed and Stock Sale CP2000 letters are more likely to result in a larger balance than those for wage earners. There’s also the rare chance the IRS’ software has made an error. If the information is wrong, contact the person or business reporting it and ask them to correct it and provide the IRS with the updated information.
The IRS may accept your explanation and correct the records if you disagreed with the notice and provided details that proved your position. Just remember not to file an amended tax return because the IRS will make any corrections. The CP2000 Notice is a document the IRS sends to let you know they found discrepancies in your tax return. The notice gives you a chance to correct and clarify the information. It will outline the specific issues with your return and provide the next steps to take for your tax return to be amended or the issue resolved quickly. It can be unsettling to receive any IRS notification but try not to worry when you receive a CP2000 Notice.
If you agree with the proposed changes, complete, sign and date the Response form (we require both spouses’ signatures if you filed married filing jointly) and return it in the enclosed envelope. Interest continues to accrue until the amount due is paid in full. Payment of the proposed amount within 30 days will cp2000 notice stop additional interest, and possibly, additional penalties, from accruing. You may pay the proposed amount or, if you return the Response form without payment, you can wait until the IRS adjusts your account and sends you a bill. Again, if you wait, interest will accrue until the amount is paid in full.
What you need to know about CP2000 notices
Sometimes referred to as “phishing” scams, these are usually sent over email and include a fake CP2000 attachment. Yes, you’ll be on the hook for any additional interest you accrue in the process. Sign the letter and send it back to the IRS, which will send you an updated tax bill.