CP2005: Good News — We Accepted Your Info and Closed the Review

Why you might get this

• The IRS had earlier questioned something on your return, often because their records didn't match what you reported.
• You sent in information or documents in response, and the IRS accepted what you gave them.
• The IRS's automated system, which matches your return against info from employers, banks, and other businesses, finished its review.
• The IRS decided not to make the changes it had proposed and is closing the review.

The deadline

This is a closing notice, not a bill or a demand. You don't have to respond or take any action. There is no deadline to meet here — the IRS is telling you the matter is settled in your favor.

This notice doesn't carry a fixed response deadline, but it still deserves attention — see what to do below.

What to do

1. Read the notice carefully so you understand what was reviewed and closed.
2. Keep a copy of the notice with your tax records.
3. If you already paid money based on the changes the IRS proposed (the ones it is no longer making), watch for a refund check — it usually arrives in about 4 to 6 weeks, as long as you don't owe other taxes or debts.
4. If you have a payment plan for a different IRS debt, keep making those payments.
5. If you get another notice about this same matter, you can ignore it; if a new notice is about a different matter, read it and follow its instructions.
6. Call the toll-free number on your notice if you think the case was closed by mistake or you have other questions.

What happens if you ignore it

Nothing bad happens if you take no action — this notice doesn't require a response. Just be aware that if you were owed a refund from a payment you made, you'll want to keep an eye out for it and contact the IRS if it doesn't show up.

Reach out to the IRS using the toll-free number on your notice if you believe the case was closed in error, if you don't receive an expected refund, or if you petitioned the U.S. Tax Court (the Office of Chief Counsel will contact you about closing that petition).

If you got a CP2005 notice, you can breathe easier. This is the IRS telling you that they looked over the information you sent, accepted it, and closed their review. They are not changing your tax return, and you don't owe anything because of this notice.

Here's what usually leads to a CP2005: the IRS earlier questioned part of your return because their records didn't line up with what you reported. You responded with documents or an explanation, and the IRS agreed with you. Their matching system — which checks your return against info from employers, banks, and other businesses — takes several months, which is why this can arrive long after you filed.

You don't have to reply. Just read the notice, keep a copy, and keep paying any separate payment plan you already have. If you paid money on the changes the IRS is no longer making, watch for a refund check in about 4 to 6 weeks.

If you think the case was closed by mistake, call the number printed on your notice.

Solace can keep an eye on your IRS account so you'll know if anything changes.