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Richardson TX - I Received a CP2000 Notice from the IRS. Now What?
The IRS sends a CP2000 notice to taxpayers when the income or payment information on file with the IRS doesn’t match the information that was reported on your tax return. Due to that difference, there may be an increase, decrease, or no change to the tax reported. Taxpayers come into our Richardson TX office and want to know how to properly respond to the notice. Read further to learn more on effectively dealing with the CP2000 Notice.
What Should You Do?
First, make sure you open your mail. While this sounds like sarcasm, in reality, many of the problems that I assist taxpayers with could have been resolved easily if addressed timely. The IRS is bad news and many people don’t want bad news. Don’t be that person. Open your mail! Read the notice carefully. You need to understand what the IRS does not believe match and how it impacts your tax liability. If you agree with the IRS, follow the instructions. If you owe additional taxes, either pay the tax owed or work with the IRS to set up a payment plan. If you don’t agree with the IRS, respond to the notice with the information that supports your position. Follow ... more
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