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TAX RELIEF SERVICES:
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Q: You have received a CP-504 notice from the IRS for back taxes owed. What does this mean?A: If you owe back taxes to the IRS, you may receive a CP-504 notice. This IRS notice begins with the message "Urgent! We intend to levy Certain Assets." The threatening tone is meant to compel immediate action on your part, but you need not be frightened into taking steps contrary to your legal interests. The IRS itself admits that it "cannot levy with just this notice." To levy assets, the IRS must first issue a Notice of Intent to Levy, and it will seek to issue a levy against your state tax refund. It may also search for other assets on which to issue a levy, and may file a Federal Tax Lien. Be aware that the IRS has issued the CP-504 notice because you have not responded to several previous notices for payment of back taxes. The notice may be issued even if you have received "hardship" status, or have already worked out an installment plan, in which case your status needs to be confirmed with the IRS. A separate CP-504 notice may be issued for each tax period in which you owe back taxes. If you do not respond promptly to the CP-504 notice, the formal Notice of Intent to Levy will soon arrive. Before this happens is the time to seek immediate tax help from an expert tax attorney to obtain necessary relief from back taxes owed. A Certified Tax Resolution Specialist or specialized tax attorney is best positioned to step in, contact the IRS on your behalf, and work toward an installment plan or other agreement that will provide tax relief.
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