Taxpayer Received a CP2000 for $149K for Unreported Income
Taxpayer Received a CP2000 for $149K for Unreported Income
The taxpayer engaged our firm after receiving a CP2000 notice for $149K in unreported income from the sale of her home. A CP200 notice is issued when income information the IRS receives from third parties, such as employers or financial institutions, doesn't match the information you reported on your tax return. Although a CP2000 isn't a bill, it's a proposal to adjust your income and this discrepancy may cause an increase in your tax liability.
After an exhaustive analysis and research of the taxpayer's matter, Mr. Gabaie gathered the necessary documents and submitted the information to the IRS. The IRS considered and determined that the gains from the sale were not considered income and issued a no change letter. In other words, the IRS will not be assessing the taxpayer.
The taxpayer engaged our firm after receiving a CP2000 notice for $149K in unreported income from the sale of her home. A CP200 notice is issued when income information the IRS receives from third parties, such as employers or financial institutions, doesn't match the information you reported on your tax return. Although a CP2000 isn't a bill, it's a proposal to adjust your income and this discrepancy may cause an increase in your tax liability.
After an exhaustive analysis and research of the taxpayer's matter, Mr. Gabaie gathered the necessary documents and submitted the information to the IRS. The IRS considered and determined that the gains from the sale were not considered income and issued a no change letter. In other words, the IRS will not be assessing the taxpayer.
It is imperative to hire a tax attorney who is knowledgeable in the tax field and can defend your rights as a taxpayer.
Reliable Tax Attorney is a Maryland Tax Attorney with offices in Annapolis, Frederick, Rockville, Columbia, and Baltimore MD. Our office represents clients nationwide before the IRS and various tax agencies. For more information on how our office can assist you with your tax problems, please call 410-358-1300 or sumbit a form to our office.
Practice area(s): Tax
