Call to schedule a strategy session at (408) 573-1122

Blog

I Received IRS Notice CP2000. What Do I Do?

You received the Internal Revenue Service (IRS) Notice CP2000 because there was a discrepancy between what you reported to the Internal Revenue Service and what was reported to the Internal Revenue Service by third parties.  The IRS receives information from third parties about the amount of income you receive.  Your employer informs the IRS the amount of wages that are paid to you when your employer files your W-2 form.  If you are an independent contractor, the IRS receives Form 1099 which reflects the income you received.  If you sold a house during the year, the amount of the sale is reported on Form 1099-S.  If it appears there was income that was reported to the IRS but not reported on your tax return, the IRS will mail a Notice CP2000.

IRS Notice CP2000 outlines the discrepancy and additional taxes, penalties and interest you may owe for the missing income.  Notice CP2000 is not an audit.  It merely lets you know your file has been red...

Continue Reading...
Close

50% Complete

Two Step

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.