Underreported Business Income

 

IRS Definition

Business Automated Underreporter cases are drawn from two primary sources:

  • The Business Master File which contains information reported to the IRS by taxpayers
  • The Information Return Master File which contains information submitted by payers

More from H&R Block

If the IRS finds that the information provided to them by third parties such as credit card merchants, banks and other payers does not match the information reported on the business’s tax return, they will send a underreporter notice such as Letter 2030 or 2531. These notices request that you review the tax return and verify the information requested. You may need to contact the payer if the information the IRS has on file is not correct or is different from the information on the form you received from the payer.

Learn how to handle an IRS notice.

Get help from an IRS expert

H&R Block’s experts can solve any IRS problem, no matter how complex.

Make an appointment

Or call 855-536-6504

Related Information

Private: How to Address IRS Business Tax Penalties

Understand the most common types of IRS business tax penalties for filing and paying late, and your possible options for requesting IRS penalty relief.

How to Handle an IRS Business Tax Audit

Learn what the IRS is looking for during a business tax audit, the steps you should take to prepare for an IRS audit, and when it's best to get expert help.

Private: What To Do If You Can’t Pay Your Business Taxes

Learn how to request an IRS payment option, like an extension to pay or an IRS installment agreement, when your business owes taxes and can't pay.

Power of Attorney: It’s How Your Tax Pro Deals with the IRS For You

Learn the three main benefits of engaging a power of attorney to research your IRS account and resolve your tax problems. Get the facts from the experts at H&R Block.