Understanding IRS CP2000 Notice [video by CPA Consultants]

What this notice is about
The income or payment information we have on file doesn't match the information you reported on your tax return. This discrepancy may cause an increase or decrease in your tax, or may not change it at all.

What you need to do
Read your notice carefully. It explains the information we received and how it affects your tax return.
Complete the notice Response form whether you agree or disagree with the notice. The response form explains what actions to take. (Your specific notice may not have a Response form. In that case, the notice will have instructions on what to do).
If you agree with our notice, follow the instructions to sign the Response form and return it to us in the envelope provided. We require both spouses' signatures if you filed married filing jointly.
Contact the business or person reporting the information, if the information they provided to us is wrong. Ask them to send you a corrected statement, then send us a copy.

You may want to
Make sure your other returns don't have the same mistake.
Contact us with any unanswered questions you have or if you need time to respond to the notice.
Keep a copy of the notice for your files.
Fill out section 3 (Authorization) on the Response form to allow someone, in addition to yourself, to contact us about this notice. Or, send us a Form 2848, Power of Attorney and Declaration of Representative to allow someone (such as your tax return preparer) to contact us on your behalf.
Correct the copy of your tax return that you kept for your records.
Order a transcript of your return.
Learn more about your payment options if you owe additional taxes.
Learn more about payment plans and installment agreements if you cannot pay the full amount of taxes owed.
Learn more about Offers in Compromise if you cannot pay the full amount of taxes owed.
Answers to common questions
Why did I receive the notice?
We received information from a third party (such as employers or financial institutions) that doesn't match the information you reported on your tax return.

Is the notice a bill?
No, the notice is a proposal and informs you about the information we have received, and how it affects your tax.

What do I need to do?
Complete the notice Response form. (Follow the notice instructions if your notice doesn't have a Response form.)

What do I do if the information is wrong or if I disagree?
The notice Response form has instructions on what to do if the new information is wrong. You also may want to contact whoever reported the information and ask them to correct it.

The information is wrong because someone else is using my name and social security number. What can I do?
You can complete and send to us Form 14039, Identity Theft Affidavit. You can also go to our identity theft information web page to find out more about what you can do.

I reported the information but I reported it incorrectly. Can I call you to correct my return?
We can generally accept your information over the phone for incorrectly reported information.

Do I need to amend my return?
If the information displayed in the CP2000 notice is correct, you do not need to amend your return unless you have additional income, credits or expenses to report. If you agree with our notice, follow the instructions to sign the Response form and return it to us in the envelope provided.

If you have additional income, credits or expenses to report, you may want to complete and submit a Form 1040-X, Amended U.S. Individual Income Tax Return. You can get help at an IRS Taxpayer Assistance Center.



For assistance, contact us at www.CPA-Consultants.com
310-800-1932
info@CPA-Consultants.com

www.cpa-consultants.com,irs notice cp2000,irs notices,irs assessments,irs penalties and interest for unfiled returns,inclaimed income with irs on information returns,