If you want more information on IRS CP 504 and how you can possibly resolve your tax problems or get into compliance with the IRS visit BackTaxesHelp.com today or call. We are specialists in helping taxpayers file, pay, settle, and resolve major IRS problems including unpaid back taxes.
If you do not pay the balance due on your account after receiving notices 501 and 503, the IRS will begin to move forward more aggressively. A CP 504 notice is the final notice of a balance due. This is the third notice, and if you do not respond to it the IRS will be forced to send you a Notice of Federal Tax Lien (if not sent already) or they will begin to levy your assets and state tax refund. Additionally, a CP 504 notice almost always includes information on the intent to levy a tax refund.
What Should I Do After Receiving a CP 504 IRS Letter?
If you want to avoid a levy or lien you have to respond to the CP 504 notice as soon as possible; hopefully the same day that you receive it. Since you ignored the first two notices the IRS is not going to give you much time. You have to remit payment right away or contact a tax resolution firm or specialist to help you in the process.
How Long Should I Wait Before Responding?
As noted above, a CP 504 notice calls for immediate action. If you pay your balance in full without waiting you can still avoid a levy and/or lien. But if you wait, like you did after the first two notices, there is no stopping the IRS from coming after your assets.
What If I Can't Pay The Total Taxes Owed?
Some taxpayers hide from the IRS because they cannot pay their balance in full. This is a mistake because they will allow you to pay in installments. If you decide to stay in hiding, you will eventually face a lien and/or levy.
If you have questions about a CP 504 notice you can contact the IRS at the number provided. Be sure to have any information on hand that will prove your case.
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