One of the things that no one ever wants to see in the mailbox is an IRS notice. But if you happened to receive one – don’t panic (or move it back to the pile, hoping it’ll disappear on its own, no matter how tempting that may be)!
It’s not surprising at all if a lot of people get notices from the IRS especially after tax time. And we have just come out of one of the hardest tax seasons in history – the 2020 tax season. It was tough for several reasons, the biggest one being the COVID-19 pandemic, which spurred on a lot of tax law changes and delays.
I know a lot of people tend to freak out upon receiving an IRS notice, but this is actually a pretty routine thing. Inside the video, I talked about the steps that you can take if you happen to see one in the mail, as well as some important tips to keep in mind.
Types of Notices:
Here are the types of notices that you might receive:
- CP2000 – Notice of Proposed Adjustment (NOT A BILL)
- CP14 – Notice of Balance Due (A BILL)
- Letter 12C – Information Request
- CP01 – Identity Theft
- Letter 3391 – 30-Day Non-Filer Letter
- Letter 2205 – Return Selected for Examination (Audit)
- CP2501 – Tax Return Discrepancy
- Letter 525 – Examination Report
- Letter 3219 – Notice of Deficiency
- CP90 – Final Notice of Intent to Levy
Common Reasons the IRS Will Contact You:
- You have a balance due
- The IRS has a question about your return
- The IRS needs to verify your identity
- You are owed a different refund amount than was shown on your return
- The IRS needs additional information
- They are proposing a change to your return
- The IRS is notifying you of a delay in processing your return
Watch the video above to learn more about the right course of action you need to take when you get a notice from the IRS. But the most important thing to remember when you see that IRS notice in the mailbox is this: don’t panic!