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In the IRS’s own words · not reviewed by VALID
CP127 notice explained, in the IRS’s own words
We made changes to your Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, because we found a miscalculation. Our changes don’t affect the amount of tax you owed.
Read the full CP127 page on irs.gov ↗
What this notice is about
We made changes to your Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, because we found a miscalculation. Our changes don’t affect the amount of tax you owed.
What you need to do
- Read the notice carefully.
- Compare the figures on the notice with your tax return.
- Contact us within 10 days of the date of the notice if you disagree with the changes we made. Please have your account information available when you call.
- Correct the copy of your tax return that you kept for your records if you agree with our changes. Keep this notice for your records.
You may want to
Download a copy of Instructions PDF for Form 1042 PDF.
What should I do if I have been charged a penalty and I don’t agree?
If we charged a penalty and you would like us to consider removing it, you must send us a written request. When you write, identify the penalty you would like us to reconsider and explain the reasons why we should remove it.
Tips for next time you file
- Consider filing your taxes electronically. Filing online can help you avoid mistakes. Learn more about filing options.
- Review your return for accuracy before mailing it to us.
Reference tools
- Publication 1, Your Rights as a Taxpayer
- Full list of tax forms and instructions
Need help?
- You can authorize someone to contact the IRS on your behalf.
- If you can’t find what you need online, call the IRS number on your notice or letter. If you didn’t receive a letter or notice, use telephone assistance.
- If you can't resolve the penalty on your own, contact Taxpayer Advocate Service, an independent organization within IRS.
What to do next
- Write down the date on the letter today.
- Look the number up on irs.gov yourself. Don’t trust a link or phone number from anyone else.
- If it says you owe money or proposes changes to your return, take it to a licensed CPA, EA or tax attorney before that date.
Not advice. Not a filing. Verify with a licensed professional. Rules change by year and facts.