IRS CP60 Notice: Income Reporting Mismatch Alert
Receiving an IRS CP60 Notice means there's a discrepancy between income you reported and what third parties reported to the IRS. Immediate attention is required to resolve this mismatch.
Understanding Your CP60 Notice
The IRS sends CP60 notices when income information from employers, banks, or other sources doesn't match your tax return.
What's Included:
- Income amounts reported by third parties
- Amounts you reported on your return
- Specific tax year in question
- Instructions for responding
Common Reasons for CP60 Notices
- Unreported W-2 or 1099 income
- Math errors in income calculations
- Missing interest or dividend income
- Discrepancies in self-employment income
- Mistakes in reporting capital gains
Required Action Steps
Step 1: Verify the Information
Compare the notice with your:
- Original tax return
- W-2s, 1099s, and other income statements
- Bank and investment records
Step 2: Determine Correct Action
- If IRS is correct: Pay additional tax or amend return
- If you're correct: Provide documentation to IRS
- If unsure: Seek professional tax help
Step 3: Respond Within 30 Days
Consequences of Not Responding
- IRS may automatically adjust your tax liability
- Additional taxes, penalties, and interest assessed
- Possible audit trigger
- Reduced options for disputing later
Preventing Future CP60 Notices
- Double-check all income documents before filing
- Report all income exactly as shown on 1099s/W-2s
- Keep organized records of all income sources
- Consider professional tax preparation
How We Can Help Resolve Your CP60 Notice
Our tax resolution services include:
- Comprehensive notice review and analysis
- Preparation of amended returns if needed
- IRS correspondence and dispute resolution
- Penalty abatement requests
- Full representation before the IRS
Don't Risk IRS Adjustments or Penalties
A CP60 Notice requires prompt, professional attention to protect your tax standing.
Call 972-519-0041 now for immediate assistance.