Getting a letter from the IRS is always unsettling — especially if it says you owe more money. If you’ve received a CP2000 Notice, it means the IRS believes there’s a mismatch between your tax return and information they received from employers, banks, or brokerages.

At Polaris Tax & Accounting, we help Asheville residents respond correctly and avoid unnecessary tax, penalties, or interest when this notice hits.

What Is a CP2000 Notice?

A CP2000 isn’t an audit — it’s a proposed change based on third-party reporting. The IRS compares:

  • What you reported on your tax return
    vs.

  • What others (W-2s, 1099s, brokerages) reported to the IRS

If there’s a discrepancy, the IRS sends a CP2000 proposing additional tax.

Common Reasons for a CP2000 in Asheville

  • A missing or incomplete 1099 from freelance or contract work

  • Sale of stocks or crypto not reported properly

  • Discrepancy in retirement account distributions

  • Employer misreporting W-2 wages

  • Duplicate or amended returns causing confusion

How Polaris Helps You Respond

✔ Review IRS Transcript Data
We compare the IRS report against your filed return to verify accuracy.

✔ Dispute Inaccurate Changes
If the IRS is wrong — and they often are — we help you draft a formal response and supporting documentation.

✔ Confirm and Settle If Valid
If the IRS is correct, we help calculate your balance, explore penalty abatement, and arrange payment terms if needed.

✔ Prevent Future Issues
We update your records, amend prior years if necessary, and help with tax planning to avoid surprises next year.

What Happens If You Ignore a CP2000 Notice?

Failure to respond can result in:

  • The IRS automatically adjusting your return

  • Added tax, penalties, and interest

  • Collection enforcement if the amount is large

  • Loss of appeal rights or refund claims

The clock starts ticking the moment you receive the notice — don’t wait.

Asheville Taxpayers We Commonly Help with CP2000 Notices

  • Independent contractors and freelancers

  • Real estate agents or gig workers

  • Retirees who missed a 1099-R

  • Crypto traders and investors

  • W-2 employees with side income

We Work With Taxpayers Across Western North Carolina

  • Asheville

  • Black Mountain

  • Hendersonville

  • Arden

  • Candler

  • Fletcher

  • And surrounding towns

Don’t Try to Handle It Alone — Let a Licensed Enrolled Agent Step In

We’re federally licensed to represent you before the IRS and know how to resolve CP2000 notices properly.

📞 704-947-3178
Schedule a consultation

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