IRS Notice CP504B – Notice of Intent to Seize Your Property or Rights to Property

This is an urgent notice informing you that you owe a balance and you must respond immediately. It is a warning that the IRS can levy the business’ assets if no response is received.

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Type of Notice: Unpaid balance

Most common tax problem area: Unpaid business taxes

Other tax problem areas: Business penalties

Why you received IRS Notice CP504B

  1. Your business owes a balance due to the IRS.
  2. The IRS sent at least one notice requesting payment, but they never received payment.
  3. The IRS sent CP504B to inform you of their intent to levy property or rights to property.

Your options to address IRS Notice CP504B

  1. Make arrangements to pay
  2. Dispute the taxes you owe
  3. Dispute the penalties

Notice deadline: 21 days

If you miss the deadline: The IRS may issue a levy and/or file a lien on the business’ property. The IRS will increase the failure to pay penalty from 0.5% to 1% per month if your client does not submit payment in full or contact the IRS to establish a payment agreement or other formal arrangement.

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