(link to irs.gov)
CP-504 - Letter
You have an unpaid amount due on your account. If you do not pay the amount due immediately, the IRS will seize (levy) your state income tax refund and apply it to pay the amount you owe. What is the notice telling me?
This notice is telling you that we intend to issue a levy against your state tax refund because you still have a balance due on one of your tax accounts. You must pay this amount immediately to avoid this. It is also telling you that we will begin searching for other assets on which to issue a levy. We may also file a Federal Tax Lien, if we have not already done so.
What do I have to do?
Pay the amount due shown on the notice. Mail us your payment in the envelope we sent you. Include the bottom part of the notice to make sure we correctly credit your account. If you can't pay the whole amount now, call us at the number printed at the top of the notice to see if you qualify for an installment agreement.
How much time do I have?
You must pay your balance due by the due date shown on your notice.
What happens if I don't pay or contact the IRS?
If you don't pay the amount due, we may seize ("levy") any state tax refund to which you're entitled. This is your notice of intent to levy as required by Internal Revenue Code section 6331(d). If you still have an outstanding balance after we seize ("levy") your state tax refund, we may send you a notice giving you a right to a hearing before the IRS Office of Appeals, if you have not already received such a notice. We may then seize ("levy") or take possession of your other property or your rights to property.
Property includes:
--Wages, real estate commissions, and other income
--Bank accounts
--Business assets
--Personal assets (including your car and home)
--Social Security benefits
If you don't pay the amount due or call us to make payment arrangements, we can file a Notice of Federal Tax Lien on your property at any time, if we haven’t already done so. If the lien is in place, you may find it difficult to sell or borrow against your property. The tax lien would also appear on your credit report ― which may harm your credit rating ― and your creditors would also be publicly notified that the IRS has priority to seize your property.
CP-504 - Letter
You have an unpaid amount due on your account. If you do not pay the amount due immediately, the IRS will seize (levy) your state income tax refund and apply it to pay the amount you owe. What is the notice telling me?
This notice is telling you that we intend to issue a levy against your state tax refund because you still have a balance due on one of your tax accounts. You must pay this amount immediately to avoid this. It is also telling you that we will begin searching for other assets on which to issue a levy. We may also file a Federal Tax Lien, if we have not already done so.
What do I have to do?
Pay the amount due shown on the notice. Mail us your payment in the envelope we sent you. Include the bottom part of the notice to make sure we correctly credit your account. If you can't pay the whole amount now, call us at the number printed at the top of the notice to see if you qualify for an installment agreement.
How much time do I have?
You must pay your balance due by the due date shown on your notice.
What happens if I don't pay or contact the IRS?
If you don't pay the amount due, we may seize ("levy") any state tax refund to which you're entitled. This is your notice of intent to levy as required by Internal Revenue Code section 6331(d). If you still have an outstanding balance after we seize ("levy") your state tax refund, we may send you a notice giving you a right to a hearing before the IRS Office of Appeals, if you have not already received such a notice. We may then seize ("levy") or take possession of your other property or your rights to property.
Property includes:
--Wages, real estate commissions, and other income
--Bank accounts
--Business assets
--Personal assets (including your car and home)
--Social Security benefits
If you don't pay the amount due or call us to make payment arrangements, we can file a Notice of Federal Tax Lien on your property at any time, if we haven’t already done so. If the lien is in place, you may find it difficult to sell or borrow against your property. The tax lien would also appear on your credit report ― which may harm your credit rating ― and your creditors would also be publicly notified that the IRS has priority to seize your property.