|
IRS Calculation of Interest Error
Special notice for taxpayers who received an IRS tax due notice mailed July 1-12
The IRS has discovered that tax notices sent out via Form CP2000 (noted in the top right hand corner of the notice) during the weeks of July 1 and July 8 contain an error in the calculation of interest. The interest calculated is lower than it should be.
A CP2000 notice provides proposed changes to income tax returns where the information on a return filed does not match with information provided to the IRS by third party sources such as employers, banks and other business organizations and other corrections discovered during the processing of a tax return.
Error Corrected
The IRS has corrected the error for future mailings. However, it appears that there will not be a revised notice sent out to provide the correct information. Later in July, the IRS will be sending affected taxpayers new information on how to contact the IRS, via phone or mail, to receive the corrected interest amount.
Please contact your Eide Bailly service provider with questions or for additional information and assistance. |
|
Eide Bailly's National Tax Office serves as a resource for clients to help analyze complex tax issues related to business decisions. Our professionals are committed to helping clients stay informed about tax news, developments and trends through various specialty areas, including cost segregation studies, wealth transfer, state and local taxation, international tax, tax exempt organizations and tax legislation. |
