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 – 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.

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