More IRS Notices

In this month’s video, I described two of the most common IRS notices, the CP2000 and CP501.  While these two are the most often received, they are far from the only notices sent.  The IRS has a whole host of letters that they send depending on the exact situation.  To help you be better prepared for the dreaded letter that may show up in your mailbox, let’s look at some other IRS notices.

There are many different notices that the IRS will send letting you know that you owe additional money.

  • If you file an amended return, you may receive an IRS notice CP22A letting you know that the changes were accepted and that an additional balance is due.
  • If the IRS finds a discrepancy between the payments reported on your return and the payments they received, they will send a notice CP23 if the result is a balance due.
  • If you did not pay the full balance when you filed your return, you will receive a notice CP14 reminding you of the balance due.

If you do not pay the balance due from these types of letters, then you will receive notice CP501, as described in the video.  If the balance continues on your account, then you will receive notice CP504, which warns you of an impending levy.  If you send in some correspondence, you may receive back a letter stating that the IRS needs additional time to process your information.  This is quite typical currently.

While many notices received from the IRS are requesting additional payments, they do also notify you if something works out in your favor.

  • If you file an amended return that results in a refund, they will send you notice CP21B before issuing your refund check.
  • If the IRS finds a discrepancy between the payments reported on your return and the payments they received, they will send notice CP24 if the result is an adjusted refund.

Since the IRS has so many different types of notices, it is important to read each one carefully to fully understand what the IRS is asking and respond appropriately.

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