On Friday, the IRS announced that it discovered an error on CP2000 notices mailed to taxpayers during the weeks of July 1 and July 8. A CP2000 notice is sent to taxpayers when there is a discrepancy between the information reported on the taxpayer’s return and the information provided to the IRS by third parties, such as employers, banks and other payers. The CP2000 notice reflects any proposed changes to credits, deductions or payments reported on the tax return. The CP2000 notices sent in the first two weeks of July contained incorrect interest calculations on the proposed increase in taxes from underreported income. What to expect After errors were discovered, IRS has corrected the interest calculation issue. Later this month, the IRS plans to send letters to the recipients of the incorrect notices. The letters will ask taxpayers to call a special toll-free number or write the IRS to obtain the corrected interest assessment.
Posted on: Wed, 17 Jul 2013 19:06:23 +0000
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