Cook CPA Group
Tax season can be one of the most stressful times of the year. It will likely have you scrambling to find all the relevant information you need to file your taxes and may leave you wondering whether you missed anything. Unfortunately, if you received a CP2000 notice, it could mean that you made a serious error on your tax return. If you need assistance responding to an IRS CP2000 notice, contact an experienced Roseville tax return accountant today.
At Cook CPA Group, our dedicated accountants are here to help you sort out your tax liability issues. Our firm has worked with residents of Roseville and northern California to handle individual and business tax returns, and we would be honored to work with you. To schedule a free consultation to discuss your tax options, contact Cook CPA Group at (916) 259-5361, or contact us online.
What is a CP2000 IRS Notice?
When a taxpayer files a tax return that contains errors, they may receive a CP2000 notice from the Internal Revenue Service. Specifically, the IRS will send a CP2000 notice if the information they have on file is not consistent with the information provided on your tax return. When this occurs, the IRS may take action that could cause your tax liability to change, for better or for worse.
The CP2000 notice should identify the specific information that caused a discrepancy on your taxes. For example, if your employer submitted information about your financial situation and that information does not match your tax return, this could be a reason that you received a notice.
The IRS makes it clear that the CP2000 notice should not be seen as notice of a formal audit. Instead, the IRS wants the taxpayer to respond and verify whether they agree or disagree with the tax information on file.
Every CP2000 notice has a phone number that a taxpayer can use if they have any questions regarding the information provided in the notice. To learn more about what to do with an IRS CP2000 notice, continue reading and speak with an experienced California tax return accountant.
How to Respond to a CP2000 Notice
If you received a CP2000 notice, you should respond to it as soon as possible. The IRS should have provided you with a response form or directions on how to respond to the notice. As mentioned, the IRS wants you to verify whether the tax information they have on file is correct or incorrect.
If you disagree with the information provided, you need to prove why the information is incorrect. There are several reasons why the IRS may have inadequate tax information on file. For example, if another person has adopted your name and social security number, this may cause a discrepancy on your taxes. Another possible issue is that your employer provided the IRS with incorrect information, and you will have to request a corrected statement from them.
A taxpayer must respond to a CP2000 notice within 30 days of the date on the letter. If a taxpayer does not respond to the notice within 30 days, the IRS will send a Statutory Notice of Deficiency. This letter will detail the IRS’ decision to alter the taxpayer’s liability and the information used to reach this conclusion. If a taxpayer wants to challenge the deficiency notice, they must do so in the Tax Court.
It is important to note that some taxpayers may receive a fraudulent CP2000 notice from individuals looking to take advantage of them. If you received a suspicious CP2000 notice, our firm could help you determine the veracity of this letter.
Additionally, if you received a CP2000 notice, it may be evidence that your previous tax returns may contain some mistakes that could become troublesome at some point. If you believe the notice identified issues with your current and previous tax returns, you will have to amend those returns. Cook CPA Group is prepared to help you amend any tax returns that could affect your tax liability.
You do not need to panic if you were the recipient of a CP2000 notice. As long as you file a timely response to the notice, the IRS will work with you to help you settle any tax debts that may have been caused by discrepancies in your tax return.
Contact Our California Certified Public Accountants to Manage Your Tax Liability
If you need assistance managing your tax liability, contact an experienced California certified public accountant. The accounting team at Cook CPA Group possess decades of combined experience that we are prepared to utilize to help manage your tax issues. To schedule a free consultation to discuss a CP2000 notice that you received, contact Cook CPA Group at (916) 259-5361, or contact us online.
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