CP 2000 - Notice of Underreported Income

IRS Notice "CP 2000" is referred to as the Notice of Proposed Adjustment for Underpayment/Overpayment and is the most common notice sent out by the IRS. The IRS compares informational returns filed by companies on Forms W-2, 1098, 1099, etc. with information as reported by the taxpayer on their return, and issues a CP 2000 if they find differences in income, deductions, credits, and/or payments. 

What you need to do

Review the entire notice and follow the instructions to resolve this issue.

Reply to the notice by the date listed.

• If a response form is included in your notice, complete and sign it. State whether you agree or disagree with the notice and include any supporting documentation.

• If your notice doesn’t have a response form, follow the notice’s instructions.

• If you agree with the notice and don’t have other income, credits, or expenses to report, follow the notice’s instructions. You don’t need to amend your return.

If you don’t reply or we can’t resolve the discrepancy, we may send another notice and a bill.

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