Got an IRS CP2000 Notice? Don't Panic! How to Fight & Win by Katie St Ores

Opening a letter from the IRS with a "Proposed Amount Due" is enough to make anyone's heart skip a beat. But before you write a check, you need to know that a CP2000 notice is not a bill—it’s an automated "match" error, and it’s often wrong. In this video, Katie St Ores, CFP® explains exactly what a CP2000 notice is, why the IRS "robot" sent it to you, and how to analyze the "Explanation of Changes" to find errors. We walk through the exact steps to respond, whether you agree, disagree, or fall somewhere in the middle. Affiliates: https://go.saintores.com/Resource What you’ll learn: The difference between a CP2000 and a formal tax audit. Why the IRS "Match Game" often misses your cost basis and expenses. How to respond within the 30-day window to avoid massive penalties. What to do if the notice is correct (and why you usually don't need an amended return). How to handle the "Accuracy-Related Penalty" and request abatement. Note: This information is for educational purposes only and does not replace personalized tax advice. Chapters 00:00 – The Scary IRS Letter: What is a CP2000? 00:45 – Meet Katie St Ores, CFP® 01:10 – It’s Not an Audit (Yet): Understanding the "Match Game" 02:15 – Common Triggers: Missing 1099s and W-2s 03:30 – The "Explanation of Changes" Page: Your Secret Weapon 04:45 – Why the IRS Thinks You Owe More (The Cost Basis Problem) 06:10 – The 30-Day Deadline: Why Speed Matters 07:20 – Option 1: You Agree (How to sign and pay correctly) 08:45 – Option 2: You Disagree (Gathering your "Proof") 10:15 – Option 3: Partially Agree (Dealing with mixed errors) 11:30 – Do You Need to File Form 1040-X? (The "Amended" Rule) 12:50 – Dealing with Interest and the 20% Accuracy Penalty 14:15 – When to Call in a Professional (CPAs, EAs, and Attorneys) 15:00 – Final Summary & Your Next Steps #IRS #CP2000 #TaxTips #TaxNotice #IRSLetter #PersonalFinance #KatieStOres #TaxPlanning #katie-st-ores DISCLAIMER: This video is for educational purposes only and does not constitute formal tax or legal advice. Please consult with a qualified professional like an Enrolled Agent regarding your specific situation.