LITTLE ROCK, Arkansas — The Internal Revenue Service is sending out warning "math error" notices to millions of Americans in a CP12 Notice and many taxpayers in Arkansas are wondering what that means for them.
The beginning of the letter could say your tax return may have been stopped for an excess of income by hundreds of thousands of dollars.
"A lot of Arkansans don't make that much money and they get this and say, 'no I didn't,' and that stop reading at that point," said George Harris with Jackson Hewitt Tax Service.
But this letter is very real.
Further down, it states there could have been some misreporting with the money you got from the government during the COVID pandemic.
Harris said that's likely a reason more people who haven't ever received a letter like this before could see one in their mailbox.
"They sent the stimulus checks out at different times of the year and people had plenty of time to forget what they received and when they received it," said Harris. "So when they came in to get their taxes done, a lot of people just guessed what they received, and that guessing is what caused the problem."
Keep in mind this only has to do with your federal tax return, and not your state taxes.
If you do get the letter in the mail, there will be a number you can call to get ahold of a representative from the IRS.
According to the IRS website, if you receive a notice, be sure to review it and compare the changes to the information on your tax return.
If you don't agree with the changes, contact the IRS within 60 days from the date of your notice.
And an important reminder for those who haven't filed their taxes yet: If you had an extension, this Friday is the last day to file your 2020 taxes.