When you ensure your health by paying health insurance premium, it may give you some tax relief and when you receive the actual health insurance benefits because of that insurance, IRS will still scrutinize those benefits if some of them fall under your taxable income

CP2000 and 36 Most Common IRS Notices & What They Mean To You !

What do IRS Notices mean_

CP2000 is one of the most common and maybe the first major notice you may receive after you filed a tax return. Now, IRS primarily communicates with you in form of notices and each notice covers specific issues about an account or tax return.Each notice has a distinct number so that you and everyone including IRS identify the basic issue related to your tax matter. So, when you receive a notice CP2000 it means that IRS while processing your return found certain discrepancies in your return and now proposing you through this notice certain adjustments Рdisallowance of some deductions or credit or addition of any income- to your income.So the meaning of CP2000 is that it is a notice of proposed adjustment for underpayment or overpayment.

Read moreCP2000 and 36 Most Common IRS Notices & What They Mean To You !

Failure to Pay & File Penalty Calculator

Here is a free IRS late payment penalty and interest calculator for computing failure to pay and file penalty easily and send the detailed report to your mail ( or any one else as pdf )

 Best Tax Tips & Calculators

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