VALID › Notice Library › CP162 notice
In the IRS’s own words · not reviewed by VALID
CP162 notice explained, in the IRS’s own words
We charged you a penalty because you didn't file it your return electronically, as required.
Read the full CP162 page on irs.gov ↗
What this notice is about
We charged you a penalty because you didn't file it your return electronically, as required.
What you need to do
- If you agree with the penalties, mail your full payment to us by the date shown on your letter to avoid additional interest charges.
- If you think we incorrectly charged a penalty and you meet any of the criteria below, an authorized officer or partner can call us at 800-829-0922 to discuss the account:
- We charged a penalty against the partnership for failure to file electronically and it has fewer than 101 partners or it received a waiver of the requirement to file electronically for the year in question. Be prepared to provide a copy of the waiver or evidence of the number of partners in the partnership at any time during the year.
- Note: For the purpose of this penalty a Real Estate Mortgage Investment Conduit (REMIC) is treated as a partnership, and a REMIC return (Form 1066) is treated as a partnership return.
You may want to
Take necessary steps to prevent a similar penalty in future years.
What information am I required to include in the return?
If it’s listed in the instructions for the return as required information, you must include it.
What if I can’t get the missing information, due to no fault of my own?
If you can’t get the missing information, you can submit a written explanation and ask for a waiver of the penalty for reasonable cause.
Who can call the IRS about this notice?
In the case of a small partnership that hasn’t designated a tax-matters partner, any partner can call us. Otherwise, only the tax matters partner or someone who the tax matters partner authorizes using Form 2848, Power of Attorney and Declaration of Representative PDF.
In the case of a corporation, any corporate officer authorized to bind the corporation with his or her signature or anyone who the corporation’s chief officer authorizes using Form 2848 may call.
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.