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The IRS sends a CP2000 notice when information they received from third parties (like employers, banks, or brokerages) does not match the income you reported on your tax return. This is not an official audit, but a proposal to adjust your tax liability.
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Common to this kind of document, not read from yours. Which of these apply to the copy in your hand is exactly what an analysis answers.
Discrepancies in reported 1099-B stock sales where the cost basis was omitted.
Interest or dividend income from accounts you forgot to list.
Proposed penalties and interest accumulating from the original tax filing date.
Strict 30-day response deadline to agree or disagree with the proposed changes.
The sequence matters. Each step assumes the one before it is done — doing them out of order is how people end up agreeing to something they could have disputed.
Locate your tax return from the year specified in the notice.
Compare the IRS proposed changes list with your form W-2, 1099-INT, 1099-DIV, or 1099-B.
Identify if the discrepancy is correct, partially correct, or incorrect.
Gather evidence (such as cost basis statements) if you disagree with the changes.
Complete the CP2000 Response Form and submit within 30 days.
General answers about this kind of document. What yours says is a different question, and one only your copy can answer.
No, a CP2000 notice is not an audit. It is a computer-generated proposal showing discrepancies between reported third-party information and your tax return.
If you fail to respond within 30 days, the IRS will issue a Statutory Notice of Deficiency, followed by a formal tax assessment, billing, and potential levy actions.
If the one in your hand is not quite this, it may be one of these.
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Understand IRS Notice CP14, including why you received it, how interest and penalties are calculated, and how to pay or dispute the balance.
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