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Deciphering IRS Notice CP27

July 30, 2024

As a taxpayer, receiving a notice from the IRS can be daunting. One such notice is the CP27, which informs you that you may be eligible for the Earned Income Credit (EIC) but didn’t claim it on your tax return. Let’s break down what this means and what steps you should take.

What is the CP27 Notice?

The IRS sends the CP27 notice to taxpayers who may qualify for the Earned Income Credit (EIC) but did not claim it on their tax return. The EIC is a valuable tax credit for low to moderate-income working individuals and families, potentially resulting in a significant refund.

What Should You Do If You Receive a CP27 Notice?

  • Read the Notice Carefully: The notice will explain why the IRS believes you may be eligible for the EIC and what steps you need to take.

  • Complete the EIC Eligibility Form: The notice will include Form 15112, Earned Income Credit Worksheet (CP27). Fill out this form to determine your eligibility.

  • Sign and Return the Form: If you are eligible for the credit, sign and date Form 15112 and mail it back to the IRS using the provided envelope.

  • Wait for a Response: The IRS will review your form and, if you qualify, will send you a refund within 6-8 weeks. If they deny the credit, they will send you a letter explaining why.

Why is This Important?

Claiming the EIC can provide a substantial financial benefit. If you qualify, you could receive a refund even if you owe no tax. This extra money can be a significant help for many families.

Need Help? Contact Lamarre Law Group, P.A.

Navigating IRS notices and tax credits can be complex. At Lamarre Law Group, P.A., we specialize in tax law and are here to help you understand and respond to IRS notices like the CP27. Our experienced tax attorneys can guide you through the process, ensuring you receive any credits you are entitled to.

Contact us today through our online contact form or call us at (833) Lamarre. Let us help you navigate your tax concerns with confidence and ease. By understanding your CP27 notice and taking the appropriate steps, you can ensure you receive any tax credits you are eligible for. And remember, Lamarre Law Group, P.A. is here to support you every step of the way.

Disclaimer: This blog post is for informational purposes only and should not be taken as legal advice. For specific advice related to your situation, please consult with a tax professional.