The IRS sends a CP504 Notice when a taxpayer has failed to pay a balance owed. The CP504 Notice is a Notice of Intent to Levy issued pursuant to Section 6331(d) of the Internal Revenue Code. If a taxpayer fails to make payments immediately or otherwise address the Notice, the IRS can proceed with a levy on a taxpayer’s income and bank accounts, as well seize a taxpayer’s property or rights to property to satisfy the outstanding balance.
Under §6331(d), the CP504 Notice must be provided to a taxpayer at least 30 days prior to taking action against a taxpayer’s property (unless the IRS has made a finding that the collection of that tax is in jeopardy as described in §6331(a)).
As described in §6331(d)(4), the CP504 Notice must contain certain information, including:
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