Your business receives a B Notice (CP2100) and/or a P Notice (972CG) when the name and tax identification number (TIN) do not match. This mismatch is the most common challenge in 1099 reporting—but can be easily solved with a few simple strategies.
However, because correcting B & P Notices is a paper-based process, correcting them from home will make this season exceptionally challenging. Despite many tax professionals working from their homes, IRS compliance requirements for B & P Notices have not relaxed. Each notice your business receives requires you to take a series of actions within specific timelines in order to avoid penalties.
Despite many tax professionals working from their homes, IRS compliance requirements for B & P notices have not relaxed. Each notice your business receives requires you to take a series of actions within specific timelines in order to avoid penalties.
B & P Notice season is right around the corner. Check out our webinar recording and learn:
- What CP2100 (B Notices) are and how to correct them
- What 972CG (P Notices) are and how to abate them
- Best practices for minimizing B & P Notices, like TIN matching
- Crucial considerations for managing B & P Notices from home
