The IRS states that they send out millions of notices to tax payers every year. Currently, there are over 500 different kinds of letters and notices sent out by the IRS. So, what does yours mean?
- CP 11 The IRS believes there are calculation errors on your return and have made changes. This notice generally comes with a tax bill as a result of these corrections.
- CP 12 The IRS had made corrections to your return that have resulted in you over paying tax. They should issue a refund check in 4-6 weeks.
- CP 23 The IRS is stating they adjusted your return because the estimated tax payments that have been reported for you and the estimated tax payments reported on your return do not match. You now have a tax bill because of these adjustments.
- CP 49 The IRS is informing you that your refund has been partially or entirely used to satisfy a past debt.
- CP 90 The IRS is notifying you that they intend to levy your assets due to an unsatisfied tax debt.
- CP 180/181 The IRS is notifying you that your Tax Return is incomplete and requires additional schedules or forms.
- CP 501/502 The IRS is notifying you that you have an unsatisfied tax debt.
- CP 2000 The IRS is notifying you that the income that has been reported for you does not match they income you reported on your return.
If you have received an IRS notice, do not wait to respond. The longer you wait the more time a tax bill will have to gain interest and penalties. You may be able to set up a payment plan with the IRS if you are unable to satisfy the entire debt.
If you need additional help understanding this notice and you were a premium user or purchased audit assistance the year you received the notice for, one of our audit specialists can review the notice with you to help you understand why you received this letter and how to proceed.