CP05

1 voice, 0 replies
  • Refundtalk
    Keymaster
    @admin
    #2191

    IRS Notices CP05 & CP05A both indicate that the IRS is holding your refund. With Notice CP05 they don’t request anything of you until they have finished their review of your return. With Notice CP05A, the IRS asks you to supply them with documentation to support certain items on your return.

    The IRS explanation is often very vague. So, you’ll have to trace exactly the line on your return being questioned & prove that item. First, call the IRS at 1-800-829-1040 (wait on hold for a very long time) and order your Wage and Income Transcripts. These documents tell you what 3rd party documents were sent to the IRS for you. You can then trace the item being questioned by the IRS and compare it to your return so you can gather evidence to offset or eliminate the IRS proposed assessment.

    If the IRS doesn’t believe the evidence is sufficient, you can Appeal the decision within the IRS. If you do nothing or if your Appeal is unsuccessful, the IRS will issue you a Notice of Deficiency & you’ll have an opportunity to go to Tax Court.

    Use the thread below to discuss IRS CP05’s. Connect with others that have received a CP05 and keep us updated on what you find out!

    If You Found The Information Here Was Useful Please Consider Sharing This Page!
     

     

          

Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.
If You Found The Information Here Was Useful Please Consider Sharing This Page!