Getting a letter from the IRS evokes all kinds of emotions. For many people its sheer panic!
I talked with a potential new client yesterday that received a CP letter from the IRS, and they were experiencing a lot of anxiety. There are hundreds if not thousands of reasons this might happen but the most common is a CP2000. In this case the information on file did not match what had been reported on their tax return.If you get a letter from the IRS, don’t panic!
Take a deep breath, talk with a CPA and make sure you respond in a timely fashion. 😉
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