Saturday, August 1, 2009

I received a CP 2000 from the IRS, What should I do?

The IRS sends a CP 2000 to taxpayers when they are proposing a “change” to their filed tax return, usually because information on the return, does not match the information that was reported to the IRS by employers, banks, mortgage interest, 1099s, 1099-G (Gambling Winnings) etc

The CP 2000 can look intimidating, around 10 pages, however, if you take a deep breath and read each page, slowly, you will see that the notice is reporting each item that you reported and the differences, in what was reported.

It is best, to contact your tax professional. If you prepared your own taxes, it may be a good idea to speak with a tax professional before signing and returning a CP 2000.


Recommended: Visit www.irs.gov and use keywords: CP 2000 - The IRS instructions will explain each page and line of the CP 2000
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