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

Ignoring an IRS notice does not pause the process. It advances it automatically. Every letter the IRS sends moves your case one step closer to enforced collection including bank levies, wage garnishments, and Revenue Officer assignment. Here is exactly what happens at each stage of the IRS escalation sequence and what each step costs you in options.

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.