IRS/Stimulus...?

Question

I just recieived a letter form the IRS saying that I "MAY" owe from my 2006 tax return...now im on the june 6th date for my stimulus so will I recieve it still that was just yesterday... a friend of mine has that day also and she hadnt recieved hers as of yesterday..what do u guys think?

Answer 1

If you have an outstanding debt with the IRS, they will apply your rebate against that debt.  If any tax year is currently under review, any rebate or other refunds will be delayed until that issue is resolved.

Answer 2

If you just got a CP2000 letter (the IRS "proposes" to change your tax liability for 2006), then your stimulus check will probably still arrive.

However, don't spend the money until you figure out if you owe for 2006 or not.

Answer 3

A CP2000 most likely means that you had some income that was reported to the IRS but you didn't show on your tax return.  It could be a W-2, or some type of 1099, and depending on what it is, you might or might not owe additional tax.  It's possible to end up with an additional refund.  The letter should say just WHAT was omitted.

Exactly what DID the letter say?

June 6 for the rebate is a mail by date.  Since that was just yesterday, it hasn't had time yet to read you - you'll probably get it next week.