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IRS letters aren't necessarily audit notices

Georgia residents and taxpayers throughout the country could receive notices from the IRS at any point during the year. In many cases, it is merely the government reaching out to notify a taxpayer about an adjustment made to his or her return. Taxpayers have the opportunity to dispute the adjustment by sending in additional information to support his or her claim. Notices such as the CP 2000 letter could be sent because an individual forgot to claim interest income on a return.

It can also be sent in any other situation when information on a return doesn't match what the IRS has on file. If the person who receives the notice agrees with the proposed change, that person can make a payment to the government. The amount will likely include fees and interest in addition to the principal balance owed. Generally speaking, an individual has 30 days to respond to an IRS notice, and it may be possible to consult with a tax professional before responding to that notice.

It is important to keep in mind that the CP 2000 notice is not a formal audit. It is also not an indication that the IRS intends to audit a return at a later date. In some cases, the government may make a mistake in a taxpayer's favor that could result in a larger refund.

Individuals who are in a tax dispute with the IRS may wish to speak with an attorney about the matter as quickly as possible. This might make it easier to learn why the IRS sent a notice and what information it is seeking. A tax attorney may help a taxpayer keep his or her emotions in check, which may help resolve the matter in a timely and favorable fashion.

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