CP05

A CP05 says the IRS is taking more time to verify income, withholding, or credits on a return — typically holding a refund while it does. Its most unusual feature: it asks for nothing. The IRS's own page says being selected doesn't mean an error was made or that anyone was dishonest.

“We're reviewing your return and need up to 60 days. If you filed this return, you don't need to do anything — please don't even call before 60 days have passed. If you didn't file it, tell us immediately with an identity-theft affidavit, because someone else may have.”

The one action item hides in the negative case: if you did not file the return being reviewed, that's possible identity theft, and Form 14039 should go in promptly. Otherwise the calendar entry is 60 days out — the point at which following up becomes appropriate.

• The notice, for the date that starts the 60 days
• Your copy of the return under review
• Pay stubs and withholding documents, in case verification is requested later
• Nothing to send yet — this notice asks for no response

• Judging whether the review is routine or a sign of a filed-by-someone-else return
• Filing the identity-theft affidavit and an Identity Protection PIN when that's the situation
• Following up effectively once the 60 days pass without a refund
• Bringing in the Taxpayer Advocate Service when the hold creates hardship