CP2000 and 36 Most Common IRS Notices & What They Mean To You !
Knowing CP2000 & 36 Most Common IRS Notice May Help You Save Money !
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 – disallowance 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.
Knowing what IRS notice cp 2000 means that matter needs immediate attention. You need to carefully examine the proposed addition or disallowance by IRS, consult your tax attorney if required, but you must reply within the time allowed as per notice -cp2000. In other words, knowing the types of notices and what those notices mean, help you in tackling tax issues. Given below is most common thirty-six IRS notices you may receive from IRS at any point of time!
List of IRS Notices & Their Meaning
Here is a list of some common IRS notices (there are more than 100) and the reasons they are issued. For a full list, visit irs.gov.
- CP 12 – This notice is sent when IRS made changes to correct a miscalculation on your return.
- CP 14 – This is the first notice to intimate you that some tax due.
- CP 31 – If you received this notice, it means, IRS received back a refund check that was sent to you , but returned unserved. You need to update the address now.
- CP 42 – The amount of a refund has changed because the IRS used it to pay a spouse’s past due tax debt.
- CP 49 – All or part of a refund was used to pay a tax debt.
- CP 90/CP 297 – This is very very dangerous notice as it is the final notice of intent to levy and notice of the taxpayer’s right to a hearing.
- CP 91/CP 298 -This is also very very important notice as it is the final notice before levy on Social Security benefits.
- CP 161 – This is a request notice for payment of unpaid balance.
- CP 501 – First reminder notice that there is a balance due.
- CP 503 – Second reminder notice that there is a balance due.
- CP 504 – This is very important notice as it is the final notice of the tax due. If you don’t pay the amount written in the notice immediately, the IRS will seize a state tax refund and search for your other assets to levy.
- CP 523 – You receive this notice in case you failed on paying the instalment as per the agreement with IRS . Once you get this notice means IRS will initiate seizure (levy) of assets unless you approach them and clear the matter.
- CP01: If you complained or IRS on its own finds an issue with your identity theft, you may receive this notice from the IRS which basically informs you that IRS has verified your claim of identity theft and have placed an identity theft indicator on your account. This indicator will be left on your account unless you ask for it to be removed, and has no effect on your ability to file your tax return, make payments, or receive a refund.
- CP01A: This notice informs you of the Identity Protection Persona; Identification Number the IRS has sent you. This PIN will need to be entered when you file your federal tax return.
- CP01H: When IRS is unable to process your tax return, you will get this notice.Getting this notice mean, the IRS has placed a lock on your account because the Social Security Number does not match and may be issued to someone who was deceased prior to the current tax year. If you believe the records are in error, contact the Social Security Administration and they will correct it.
- CP01S: This notice informs you that the IRS has received your Form 14039 or similar statement regarding your identity theft claim and they will contact you with updates or if they need further information. The Identity Protection Specialized Unit will assist you with any questions regarding your CP01S notice.
- CP03C: This notice comes to you if you are eligible for the First-Time Homebuyer Credit.You need to file a form to report the change in ownership of the house you purchased.
- CP04: The IRS has records that you or your spouse served in a combat zone, qualified contingency operation, or a hazardous duty station during the tax year specified on your notice, and you may be eligible for a tax deferment. Read this notice carefully, as it will explain why the IRS is asking you to send in the documentation about your service
- CP05: This notice does not give any alarming situation, but it merely informs you that the IRS is reviewing your tax return, specifically your income, expenses, and credits for accuracy. If you have not received your refund or heard from the IRS within 45 days of receiving this notice, contact the IRS
- CP05A: If you receive this notice, you need to provide certain documentation such as following:
- proof of your income,
- the withholding reported on your income and social security benefits,
- the tax credits you claimed,
- household help you claimed, and/or
- your business income.
- CP07: This is a notice to intimate that your tax refund is being held until the IRS can complete a more thorough review of the benefits claimed under a treaty and/or deductions claimed on your Schedule A. You should receive your refund within 6-12 weeks, provided IRS does not find issue with your claims
- CP08: This notice states that you qualify for the Additional Child Tax Credit . So you should complete and submit the Additional Child Tax Credit Worksheet and Form 1040 Schedule 8812.
- CP09: Similar to CP08, CP09 states that you may be eligible for the Earned Income Credit but did not claim it on your return. Examine if you really qualify for this credit. If yes, then sign and date the worksheet and send it to the IRS. Once they receive your worksheet and determine that you are in fact eligible for this, they will send your refund check in 6-8 weeks
- CP10: This is an important notice and intimates you about the changes made by IRS during processing of your your return as there was a miscalculation. So notice suggest changes that may impact the estimated tax payment you requested to be applied to your next tax year.
- CP10A: The IRS is notifying you of changes made to your tax return because of a miscalculation regarding your Earned Income Tax Credit. Please read this notice carefully as it will outline what the problems were and suggest additional steps for you to take.
- CP11: This notifies you that the IRS has found a miscalculation on your tax return and you owe money on your taxes as a result. Please read this notice carefully as it will outline what the problems were and suggest additional steps for you to take. If you disagree with the changes the IRS has made, contact them within 60 days of receiving your notice.
- CP11A: This notice is issued when IRS finds miscalculation on your return involving the Earned Income Tax credit and you owe money as a result. Contact the IRS within 60 days of the date on your notice if you wish to dispute their changes.
- CP11M: If IRS finds discrepancies related to your claim of Making Work Pay and Government Retiree Credit, they change your claim on account of which you owe money.If you disagree with the changes the IRS has made, contact them within 60 days of receiving your notice.
- CP12: When IRS finds a miscalculation on your tax return and made changes to it, this notice arrives. If you agree with the changes the IRS made to your return, you do not need to do anything and your return should arrive within 4-6 weeks. If you do not agree, contact the IRS at 1-800-829-8374 to review your account.
- CP12A: The IRS has made changes on your tax return regarding the Earned Income Tax Credit. If you agree with the changes the IRS made to your return, you do not need to do anything and your return should arrive within 4-6 weeks. If you do not agree, contact the IRS at 1-800-829-8374 to review your account. You can contact the toll-free number listed on the top corner of your notice for personalized information regarding your specific claim.
- CP12E: Similar to notice CP 12 or CP 12A , this arrives when IRS changes to your return on account of a miscalculation. If you agree with the changes the IRS made to your return, you do not need to do anything and your return should arrive within 4-6 weeks. If you do not agree, contact the IRS at 1-800-829-8374 to review your account. .
- CP12M: The IRS has amended your tax return involving the Making Work Pay and Government Retiree Credit. If you agree with the changes the IRS made to your return, you do not need to do anything and your return should arrive within 4-6 weeks. If you do not agree, contact the IRS at 1-800-829-8374 to review your account.
- CP12R: When IRS changes calculations of the Rebate Recovery Credit, this notice is issued. If you agree with their changes, you do not need to take any further action, and you should receive your refund in 4-6 weeks. If you disagree with the changes, contact the IRS at 1-800-829-8374 to review your account. Alternatively, you can contact them by mail.
- CP13: This notice arrives when IRS found a miscalculation on your tax return, and as a result of changes made by them you do not owe money, nor are you entitled to a tax refund.
- CP13A: The IRS has amended your return because of a miscalculation involving your Earned Income Credit, and as a result, you do not owe money, nor are you entitled to a tax refund.