A lot of individuals across the United States might have found themselves confused upon receiving mail from the IRS, with IRS Notice CP80s having been sent out.
A lot of questions are now being asked, and we have the answers as to why you might have received IRS Notice CP80.
What is the IRS CP80 Notice?
The IRS CP80 Notice means that the IRS have received a payment for the tax year in question, but didn’t receive a return, meaning a refund may be due.
It is sent when the IRS have credited payments and/or credits to one’s tax account.
Why have I received IRS CP80 Notice?
There are three likely reasons for having received IRS CP80 Notice, being:??1. You had taxes withheld from your pay or you made estimated tax payments;?2. You didn’t file a tax return by the due date;?3. The IRS sent CP80 to notify you that you have credits to your tax account. If there is a refund for that tax year you will lose it if the tax return is not filed within three years of the date the return was due.?
What happens if I miss the tax return deadline after IRS CP80?
The deadline is three years from when the return was due, and if you miss the deadline you won’t receive a tax return for the year in question, even if it is filed.
More help can be sought by making an appointment with a local tax professional.