IRS CP2000 LETTER FAQ - ARIZONA

  • WHAT IS AN IRS CP2000 LETTER?

    THE IRS CP2000 LETTER PROVIDES NOTICE OF A DISCREPANCY BETWEEN WHAT WAS REPORTED TO THE IRS AND YOUR RETURN. IT ALSO THREATENS CHANGES TO YOUR RETURN BASED ON THAT DISCREPANCY.

  • HOW MANY TAX YEARS CAN THE IRS ISSUE A CP2000 LETTER FOR?

    THE IRS CAN ISSUE A CP2000 LETTER FOR 3 YEARS OF RETURNS BASED ON DATES THOSE RETURNS WAS DUE TO BE FILED OR FILED, WHICHEVER ONE CAME LATER.

  • CAN AN IRS CP2000 LETTER BECOME AN IRS AUDIT?

    YES, THE CP2000 CAN “MORPH” INTO AN AUDIT IN CERTAIN SITUATIONS. THE TAXPAYER CAN REQUEST THAT IT BE TREATED AS AN AUDIT AS WELL.

  • WHAT IF I JUST IGNORE THE IRS CP2000 LETTER?

    IGNORING THE IRS CP2000 WOULD BE A MISTAKE UNLESS YOU ARE CERTAIN THAT THE CHANGES THE IRS IS PROPOSING TO THE RETURN ARE CORRECT.

  • IF I OWE AS A RESULT OF AN IRS CP2000, CAN I USE AN IRS COLLECTION ALTERNATIVE?

    YES. WHEN THE CP2000 PROCESS IS FINAL AND A BILL IS ISSUED, YOU WILL WANT TO DETERMINE WHETHER YOU SHOULD PAY IT IN FULL, OR USE A COLLECTION ALTERNATIVE.

  • WHAT IF I DIDN'T RESPOND TO THE IRS CP2000 AND NOW HAVE A DEBT?

    IF THE NEW DEBT IS INCORRECT YOU CAN ASK THE IRS TO “RE-CONSIDER” THE ASSESSMENT.

  • CAN I ASK FOR IRS PENALTY NON-ASSESSMENT WHEN RESPONDING TO AN IRS CP2000 LETTER?

    YES. YOU WILL WANT TO ENSURE YOU QUALIFY FOR FIRST TIME PENALTY ABATEMENT OR REASONABLE CAUSE PENALTY AND ASK THAT THE PENALTY(IES) NOT BE ASSESSED.

  • WHAT IS THE DIFFERENCE BETWEEN AN IRS CP2501 NOTICE AND IRS CP2000 NOTICE?

    THE IRS TYPICALLY SENDS THE CP2501 NOTICE FIRST FOR A FEW DIFFERENT REASONS.

  • WHAT DOCUMENT WILL I RECEIVE TO TELL ME THE CP2000 PROCESS IS OVER?

    IT WILL DEPEND ON THE OUTCOME. THE OUTCOME OF THE CP2000 PROCESS WILL EITHER BE NEW DEBT OR NO CHANGE.

  • SHOULD I FILE AN AMENDED IRS RETURN IN RESPONSE TO AN IRS CP2000 NOTICE?

    YOU SHOULD CREATE A RETURN FOR THE PURPOSES OF COMPARING THE CORRECT RETURN TO THE IRS PROPOSED CHANGES. BUT FILING THE RETURN AS AN AMENDED RETURN IN RESPONSE, MAY CAUSE MORE PROBLEMS.

  • WHAT IS THE PROCESS I SHOULD FOLLOW TO RESPOND TO AN IRS CP2000 LETTER?

    THERE ARE A SPECIFIC SET OF STEPS THAT SHOULD BE FOLLOWED IN RESPONDING TO AN IRS CP2000 LETTER.

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