A CP113 notice means the IRS changed your railroad retirement tax return because it believes there was a miscalculation. The result is an overpayment on your account.
Railroad retirement tax is reported on Form CT-1, Employer's Annual Railroad Retirement Tax Return.
What to Do
- Read the notice. It explains the changes to your tax account.
- Compare its figures with your railroad retirement tax return.
- If you agree, correct the copy of the return you kept for your records.
You should receive a refund of the overpayment shortly, as long as you don't owe other amounts the IRS is required to collect.
If You Disagree
Contact the IRS within 10 days of the notice date. Call the number on your notice or write. The IRS may be able to reverse the changes.
Ten days goes fast. If the change doesn't look right, pull the return and your payroll records right away. If you write, keep a copy and use certified mail so you can prove the date.
Why Check an Overpayment?
An overpayment is usually good news. But a correction means the IRS's numbers now differ from the ones you filed. Make sure the corrected figures match your payroll records before you accept them, and update your copy of the return so your records match the IRS's.
Next Time
Review the return for accuracy before you mail it.
For questions about what caused the change, call the number on your notice. A representative authorized with Form 2848 can handle it for you.
If you received a CP113 notice and want help reviewing the change, call us at (813) 229-7100.