![]() CP162 - Penalty on Your Partnership Tax Return This notice can also be requesting more information about the American Opportunity Tax Credit (AOTC), the Premium Tax Credit (PTC), or the Child and Dependent Care Tax Credit. Most of the time it is related to the Earned Income Tax Credit (EITC) and is requesting proof related to it. ![]() This notice means that the IRS is seeking additional information about some of the details on your tax return. They generally don't threaten collection actions against you. This IRS sends Notice CP71, Notice CP71C, and other notices in the CP71 series as an annual reminder of your tax balance due. ![]() Here are details of what to know about this notice and actions you should take. This notice outlines your payment options. The IRS sends notice CP40 when they have assigned your tax account to a private collection agency. CP40 - Your Tax Account is Assigned to a Private Collection Agency The IRS sends this notice instead of the CP14 to taxpayers who are trying to set up installment agreements on their tax liabilities. CP14IA - Installment Agreement Accounts (new notice) This is generally the first notice that is sent after taxes are filed and there is still an outstanding balance. This guide explains why you received this notice and how to respond to it. Usually, the IRS only sends this notice if the changes made to your return changed your balance by at least $5. This notice also explains changes the IRS made to your return, and it details how much you owe due to the changes. The IRS sends Notice CP11 to alert you about potential errors on your tax return. CP11 - Changes to Form 1040, Math Error - Balance Due This notice is used to notify the taxpayer that the IRS is holding their tax refund because they have unfiled tax returns for a different year. Some of the more common letters from the IRS include: CP88 – Delinquent Return Refund Hold Different Types of Letters from the IRS & Corresponding Letter Codes When submitting any information to the IRS or to any company for that matter, it is good practice to keep copies for your own records. When an error has been made and additional payment is required direct correspondence and payment can be submitted directly to the address on the notice. ![]() If there is a discrepancy, then this should be brought to their attention. After reviewing mail from the IRS, it is essential to compare the information received from the IRS to the information that you provided to them during the period in question. Each notice or letter will require some action on your part. Most letters from the IRS contain specific instructions to help complete your tax return. What To Do If You Receive A Letter From The IRS The IRS usually places the CP number in the header of the notice, at the top and center of the page. It helps users to retain a portion of the notice for their records. There is also a corresponding CP number on the removable portion of the page. The IRS prints the CP (Computer Paragraph) at the top of the first page of the notice. It helps IRS employees track correspondence from thousands of citizens. The IRS assigns a letter and number code to every notice that leaves their office. The IRS requires additional information regarding your tax return.There was an error, and you are owed a greater refund.There was an error or omission on your tax return, and additional tax payment is required.The IRS usually sends out letters or notices if: Letters from the IRS describe quite clearly why they are contacting the taxpayer and include guidance on how to handle the issue. When the IRS sends through certified mail it can mean that the notice is in regard to a highly time-sensitive issue. The IRS may send letters via regular mail or through certified mail. It could be Letter 3228(LT39) Reminder Notice letter or it may even be the IRS sending you Notice number CP12 which outlines Changes to Tax Return, Overpayment. There are around 75 different notices and IRS letters. Ignoring correspondence from the IRS could make your tax problems worse. It's important to open and read any letters or notices you receive from the IRS. Nothing can make your blood run cold more than receiving a letter from the IRS. IRS Letters: Understand What Your IRS Notice Means & What to Do
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