I received a letter from the irs, notice CP80, indicating there is a credit in m account. how do I reflect this on my return to get this credit against my taxes?

[bigb959]

The credit is for 7121.00.  I owe less than that.  Should I just send in the difference and assume they will give me the credit?

[PeterM]

No, never assume anything with the IRS. I would contact the IRS about this particular notice as soon as you can. According to Understanding Your IRS Notice (click here) the CP80 states that they have received federal tax payments on your behalf but have not received a tax return. So in that regard, I would contact the IRS first to determine your next step.

According to the IRS, you can assign that credit to another tax form, period, or identification number. Please call them at 1-800-829-8374 to give them the details of the account to which the credit should be transferred.

[DULCEALMA58]

What is my next step 

[DULCEALMA58]

I read and understand  called but due to high call volume the system hang up

[BillM223]

@DULCEALMA58

Have you filed your tax return? That would be the first step, to see if they will refund the money.

Only if that doesn't clear the account would you want to call the IRS, to see if a refund check can be issued outside of a tax return.

See Understanding Your CP80 Notice.