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CP 2000 Sample Contents Page 7

Contents of This Notice - Page 7 of 10    Previous Page           Next Page

2. Reasons for the Changes.

This section provides explanations to help you understand the proposed changes to your tax return.

The paragraphs that follow provide explanations for:

  • the items listed in Section 1. Information Reported to IRS
  • the changes to your tax computation listed in Section 3. Changes to your Return
  • the penalty and interest charges listed in Section 3. Changes to Your Return
  • Payment Instructions
  • Additional Information that will help you understand this notice and what action you need to take to resolve the tax discrepancy

Within each subsection below, the paragraphs are organized by topic to help you review them.


These paragraphs explain the items listed in Section 1. Information Reported to IRS.

Deductions
Other Deductions
 

STANDARD DEDUCTION FOR CERTAIN FILERS (SCHEDULE L)

The phase-out of the Standard Deduction for Certain Filers begins when your Adjusted Gross Income (AGI) exceeds $125,000 ($250,000 if married filing jointly) and is eliminated completely when your AGI reaches or exceeds $135,000 ($260,000 if married filing jointly). If, based on the changes shown on this notice your AGI exceeded these limitations, the additional amount of Standard Deduction for Certain Filers claimed on your tax return is being adjusted.

Tax & Credits
Taxable Income
 

NEGATIVE TAXABLE INCOME

The taxable income per return (TXI) on this notice differs from your original return.  This notice reflects the actual amount of your taxable income to ensure proper credit for deductions and exemptions.

CP2000 (Rev.11/2004)

Page Last Reviewed or Updated: 30-Apr-2013