If you receive a letter CP 2000 from the IRS, it is safe to say that the income they have on file for you doesn’t match the income that you reported on your tax return.  Receipt of this letter does not automatically mean that you will owe additional tax.  The discrepancy between what you reported and what the IRS has on file may cause your tax to increase, decrease, or state the same.

Reading the notice very carefully will help you determine how the discrepancy affected your tax return.

If you own additional tax, the notice will propose how much you owe together with possible penalties, if applicable.  Sometimes, the IRS can question deductions or credits you took that don’t match information statements filed under your Social Security Number.

Please, note that CP2000 notices are computer-generated and, therefore, may not always be correct. You might not owe the full amount – or anything at all. In fact, many taxpayers who get a CP2000 notice don’t end up owing anything.

Resolve your IRS tax problem with the peace of mind that you are in good hands, please call us at (678) 667-3573 or contact us to set up a free consultation.