Letter 2030 – Form 1120 Discrepancy

What It Means:

IRS Letter 2030 is sent to entities that file Form 1120, U.S. Corporation Income Tax Return, and changes are being proposed due to a reporting discrepancy (income, deductions, or payments). This is not a bill.

Next Steps:

Read your Letter 2030 carefully and compare the information provided in both the “Shown on Return” and “As corrected by the IRS” columns.

If you agree with the amounts reported:

• Do not file an amended return. Instead, check the “Request Verification for Unreported Income, Deductions, Payments, and/or Credits on BMF Income Tax Returns Matched to Payer Information Documents” box on Form 15113 provided in the letter. Sign and date the form and mail it to the address provided along with any taxes due (check or money order).

If you agree but can’t pay:

• Request a payment plan. You can also send an explanation for why you did not include the correct amount on your return and seek other tax relief.

If you disagree:

• If you don’t agree with the changes proposed, you can return Form 15113 and indicate that you do not agree with all or some of the changes. Be sure to include a signed statement explaining why you disagree and attach any supporting documentation. If you need additional time (30-day extension), you can contact the number on the letter.

Failure to respond by the deadline date will result in the IRS moving forward with the proposed changes.

Need Help?

Call 855-774-0271 or complete our online form to schedule a Free Consultation with one of our tax specialists.