VALID › Notice Library › CP268 notice
In the IRS’s own words · not reviewed by VALID
CP268 notice explained, in the IRS’s own words
We made changes to your return because we believe there is a miscalculation on your return. You have a potential overpayment credit because of this miscalculation.
Read the full CP268 page on irs.gov ↗
What this notice is about
We made changes to your return because we believe there is a miscalculation on your return. You have a potential overpayment credit because of this miscalculation.
What you need to do
- Read and review your notice carefully ― it will explain the change
- Compare our changes to the information on your tax return
- Call the toll-free number listed on your notice within 30 days to request a refund check or to apply the credit to other types of tax or tax periods
- Correct your copy of your tax return for your records
What do I do if I find an uncredited or misapplied payment?
Contact us at the toll-free number listed on your notice with your information. Our representative will discuss the issue with you and provide further instructions.
What choices do I have about what to do with my overpayment?
You can have your overpayment credit refunded to you or you can have it applied to other taxes or tax periods.
When can I expect to receive my refund?
You will receive it in four to six weeks if you respond to your notice within 30 days and if you owe no other taxes or debts we’re required to collect.
What can I do if I don't receive my refund in four to six weeks?
Call us at the telephone number listed on your notice.
What do I do if I need to make a correction to my account?
Contact us at the toll-free number listed on your notice with your information. Our representative will discuss the issue with you and provide further instructions.
What do I need to do next year to get my refund through a direct deposit?
Complete a Form 8050, Direct Deposit of Corporate Tax Refund PDF, and attach it to your return next year when you file your Form 1120, U.S. Corporation Income Tax Return PDF, or your Form 1120S, U.S. Income Tax Return for an S Corporation PDF.
Tips for next year
Consider filing your taxes electronically. Filing online can help you avoid mistakes and find credits and deductions for which you may qualify. In many cases, you can file free. Learn more about how to file electronically here.
Reference Tools
- Publication 1, Your Rights as a Taxpayer
- Full list of tax forms and publications
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.