Tax Strategy, CFO Insights & NIL Finance for Founders and Athletes

CP504 is the IRS Notice of Intent to Levy and it means the collection phase has started. It cannot yet take your wages or bank account but it is one letter away from being able to. That next letter is already queued. Here is exactly what CP504 means, what comes after it, and what arrangements are still available before the final notice arrives.

That IRS letter has a notice code, a deadline, and a correct response. Most IRS notices are generated automatically and many are fixable on good terms. But every notice is a step in a sequence and the next letter is always worse than the one you are holding. Here is exactly what each notice means and what Texas taxpayers should do first.