NOTICE CP259

Notice CP259 is a notice sent by the Internal Revenue Service (IRS) to taxpayers who have not filed their business tax return for a specific tax period. The notice will indicate the tax period(s) for which the return is missing and will request that the taxpayer file the return immediately.

There are a few reasons why you may have received Notice CP259:

• You may have simply forgotten to file your return. This is a common mistake, especially for businesses that are new or that have recently changed ownership.
• You may have been too busy to file your return on time. If you have a complex business or if you have multiple tax returns to file, it can be easy to let one slip through the cracks.
• You may have been unable to file your return on time due to extenuating circumstances, such as a natural disaster or a family emergency.
• You may have intentionally failed to file your return. If you are self-employed, you may think that you can get away with not filing your return if you owe taxes. However, the IRS has many ways of tracking down taxpayers who have not filed their returns, and the penalties for failing to file can be severe.

• If you receive Notice CP259, the most important thing to do is to file your tax return as soon as possible. You can file your return electronically, by mail, or by fax. If you cannot file your return immediately, you can request an extension from the IRS.
• If you owe taxes, you will need to pay them when you file your return. You may also be subject to penalties and interest. However, the penalties and interest will be lower if you file your return and pay your taxes on time.
• If you cannot afford to pay your taxes in full, you may be able to set up a payment plan with the IRS. You can also apply for a penalty waiver.

• Set up a system for tracking your tax deadlines. This could be a calendar, a to-do list, or simply a reminder in your phone.
• If you have a complex business or if you have multiple tax returns to file, consider hiring a tax professional to help you.
• If you are unable to file your return on time, request an extension from the IRS as soon as possible.
• If you owe taxes, pay them as soon as possible to avoid penalties and interest.