IRS Letter CP504B
Why are you receiving this letter?
You received IRS letter CP504B because you have not paid your business back taxes or agreed to resolution with the IRS, and you still have an unpaid business tax balance due and owing.
- You owe a balance and can pay it.
- You can pay online at www.irs.gov/payment.
- Your tax balance is less than $25,000.
- You don’t have unfiled tax returns.
- You are unable to pay back the taxes in full.
- You would like to discuss this with someone not working for the IRS to understand what is going on and the options you have.
- Your tax balance is greater than $25,000.
- You have unfiled tax returns.
- You are unable to pay back the taxes in full.
- You would like to negotiate down the tax balances.
What you should do?
We highly recommend you either contact the IRS or a tax professional immediately. The IRS will soon have the authority to start collection actions such as filing Federal Tax Liens and/or Tax Levies on your wages, bank accounts, state & federal tax refunds, etc.
You should consider your options for resolving the taxes. This includes paying the balance in full or setting up an arrangement with the IRS. You can call the IRS to request more time to evaluate your options. The IRS will ask you for information such as where you work, where you bank and if your business has any government contracts. This information is requested to update the IRS system for potential levy sources.
For additional help, contact a tax professional to explore your options for making an arrangement with the IRS.
What can you expect next?
IRS letter CP504B is considered a tax bill. The IRS asks that you pay the balance due in full. You do have options. Failure to respond to this letter may limit the options available to resolve your case with the IRS. Do not wait! Learn about your options for tax resolution.