CP 523 - Notice of Intent to Levy - You Defaulted on Your Installment Agreement - Z Tax & Accounting

The IRS notice "CP 523" is a notice the taxpayer would receive if he or she has an installment agreement with the IRS for an outstanding tax balance and the IRS considers you in default on your installment agreement. Examples of default causing actions are: missing a payment, new balance due, or not filing a tax return. The notice also informs you of what the IRS intends to do to collect the taxes owed, which can include filing a federal tax lien or seizing (levying) your wages and/or bank accounts.

You should call the IRS at the phone number listed in the header section to determine what steps you need to take to correct the problem. You have 30 days from the date of the notice to contact the IRS and resolve the issue.

If you don’t agree with the reason for the cancellation of the installment agreement, call the number at the top of the notice to discuss it with the IRS. The installment agreement may be reinstated (an additional fee may apply) or if the issue cannot be resolved you have the right to file an appeal.

At Z Tax & Accounting, we specialize in helping clients navigate IRS & State tax debt, back taxes, and audit issues with confidence and professionalism. Our team of experienced IRS Enrolled Agents, admitted to practice before the IRS, provides expert representation for IRS audits, collections, and appeals. Whether you are facing personal or business tax challenges, we are here to protect your rights and help you achieve the best possible outcomes. Call us today at (214) 699-4790.