CP-523
Notice of Intent to Levy
You Defaulted On Your Installment Agreement.
If you have received this notice, it means you have defaulted on your installment agreement. This can occur because you failed to make a scheduled payment, filed your most recent tax return late, filed a return and did not pay the balance due or failed to make estimated tax payments as required. If you owe for more than one tax period, you will receive one of these notices for each year.
The top right of the notice will indicate the date of the notice, the primary social security number or employer ID and, in most cases, a Caller ID number. The middle of the notice will describe the type tax and tax period involved. It will also show any interest and penalties accrued since your last notice.
If you defaulted because you failed to make a payment but are now in a position to begin making the payments, call the number on the notice and tell them. They will reinstate your agreement, but you will have to pay a $24 reinstatement fee. If you defaulted because of any of the other reasons, you will have to correct the problem before they will make any further arrangements with you. You will most likely have to provide financial information again (unless you owe less than $25,000 and can pay it off in five years or less) and get set up in a new agreement. They will charge a $105 user fee. It is less if you pay by bank debit. If your circumstances have changed, your new installment agreement could be higher or lower than the previous one. IRSOS.com can negotiate the lowest possible installment agreement for you. Call us today to get started.
If you ignore this notice, your case will be transferred from Taxpayer Service to Automated Collections (ACS). This is often referred to as "Collections". If you ignore this notice, the next notice you will receive will be a Letter 2050. It will not come certified. You will receive it about five to six weeks after you received the CP-523.
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