What does it mean if you receive a CP24 notice from the IRS? Don’t panic. It’s probably not bad news. The IRS sends this notice when the amount of tax paid on a taxpayer’s return doesn’t match its records of estimated tax payments posted. A CP24 generally will inform you that the IRS has corrected your return and will be refunding the overpaid balance, usually in four to six weeks. If you already qualify for a refund and haven’t yet received it, the overpayment will likely be added to your refund. However, if you owe other tax, the IRS will apply the balance to that debt first. Contact us with questions and to help avoid errors in the future. © 2025