Episode 78: In this episode, Timalyn covers what an IRS Notice CP2000 is and how taxpayers should respond to it.

What is a CP2000?

Timalyn begins by letting listeners know what a CP2000 is not. It is not a bill. This notice is a proposal for changes due to the underreporting of income.

This notice lets taxpayers know that discrepancies were found between what they reported on their taxes and what third parties reported. This could be income that was underreported or deductions and credits that were inflated.

If the proposed changes result in an increase in tax of 20% or more the taxpayer will also be assessed a 20% accuracy related penalty. Timalyn discussed this penalty in Episode 28, IRC 662 Accuracy-Related Penalty.

What should I do if I get a CP2000?

If you receive a CP2000 don’t panic. Pull out the tax return in question on the notice and compare the changes proposed on the notice to what is on your return. Are you missing anything?

If you are, you can let the IRS know that you agree with the changes by checking the box on the notice and signing. Then you’ll send it back by the date they have included. Or, you could do nothing and they will proceed with the changes.

Do you disagree? You have the right to disagree and support your position. In this case, you’ll check the disagree box and explain why in the space provided. You’ll also need to provide them with supporting documentation for your position. Do not send them original documentation.

It is very important that you get this documentation, as well as your answer, back to the IRS by the deadline. If you do not use the upload tool, Timalyn recommends sending it Certified Mail, so you have your green receipt and tracking number. Keep the new USPS Postmark Rule in mind.

What is the new USPS Postmark Rule?

Effective December 24th, 2025, the USPS is no longer postmarking mail the day it reaches the post office. Instead, the new postmark date will reflect when it is first processed at a regional center. This could be a day or two later. Which could impact the deadline not only for those paying bills or voting by mail, but also for taxpayers who still use the mail system to file and pay their Federal, state, and local taxes.

Need Tax Help Now?

If you need answers to your tax debt questions, book a consultation with Timalyn via her Bowens Tax Solutions website. Click this link to book a call.

Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it. This information might be helpful to someone who really needs it.

As we conclude Episode 78, we encourage you to connect with Timalyn on social media. You’ll be able to subscribe to this podcast on Spotify, Apple Podcasts, YouTube, and many other podcast platforms.

Remember, Timalyn Bowens is America’s Favorite EA, and she’s here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today’s episode.

For more information about tax relief options or filing your taxes, visit https://www.Bowenstaxsolutions.com/ .

If you have any feedback or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/contact.

Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.

One Big Beautiful Bill Act: Business Overview

Episode 76: In this episode, Timalyn does an overview of the One Big Beautiful Bill Act and how it will affect Individual Taxpayers. Next episode, she'll discuss some of the changes and how they affect business owners.

0:00 Understanding the One Big Beautiful Bill Act

3:59 How your standard deduction has increased

8:01 New $40,000 Cap for State and Local Taxes

10:32 Additional $6,000 Deduction for Seniors

12:27 Deducting Interest on New Car Loans

14:59 New ax Benefits for Overtime and Tip Income

20:10 Increased Child Tax and Adoption Credits

22:39 Elimination of Clean vehicle and home improvement credits

25:39 How to Plan for these tax law changes.

Need Tax Help Now?

If you need answers to your tax debt questions, book a consultation with Timalyn via her Bowens Tax Solutions website. Click this link to book a call.

Please consider sharing this episode with your friends and family. There are many people dealing with tax issues, and you may not know about it.

This information might be helpful to someone who really needs it. As we conclude Episode 76, we encourage you to connect with Timalyn on social media. You’ll be able to subscribe to this podcast on Spotify, Apple Podcasts, YouTube, and many other podcast platforms.

Remember, Timalyn Bowens is America’s Favorite EA, and she’s here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today’s episode.For more information about tax relief options or filing your taxes, visit https://www.Bowenstaxsolutions.com/ .If you have any feedback or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/com

Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.