Posted in Tax Law & IRS Defense

When your tax return does not match data reported to the IRS from third parties, a letter called an IRS Notice CP2000 may be sent to you. It is not a formal audit notification, but it can quickly turn into a deficiency notice if not addressed. CP2000 Notices contain:

• The amounts you reported on your original or processed amended return;
• The amounts reported to the IRS by the payer or 3^rd parties;
• The payer’s name, ID number, the type of document issued (W-2, 1098, 1099), and the tax identification number of the person to whom the document was issued;
• The proposed changes to your income, tax, credits, or payments; and
• A Response form, payment voucher, and an envelope.