If you live or do business in Charlotte, NC and have received a CP504 Notice of Intent to Levy, it means the IRS is preparing to seize bank accounts, wages, or other assets. That can be frightening—but you do have options. In this article, we’ll outline the essential steps to take as soon as you see a CP504, without giving away every technical detail. Our goal is to help you understand the process enough to see why working with Polaris Tax & Accounting is the fastest, safest way to prevent a levy.

What Is a CP504 Notice?

  • CP504 Definition: A CP504 is a “Notice of Intent to Levy” the assets in your possession because the IRS believes you owe back taxes.

  • Why You Got It: It usually follows a series of earlier notices (e.g., CP2000, CP14) advising you of an underpayment. If nothing changed, the IRS will escalate to CP504 and then move forward with a levy.

Key Point: A CP504 does not give you full appeal rights (Collection Due Process, or CDP) yet—but it does trigger the window to dispute or defer action.

High-Level Steps to Stop a Levy (Without All the “How To” Details)

Below is a simplified overview of the actions you’ll ultimately have to take—enough to know what’s coming, but not a DIY kit. If you’d rather have an expert navigate these steps, scroll to the final section and schedule a free consultation.

Step A. Confirm Your IRS Balance

  • Why: Before you do anything, make sure the amounts the CP504 cites are accurate. Sometimes previous payments, credits, or amended returns haven’t been properly posted to your account.

  • How (High-Level): Request an IRS Account Transcript online or by mail. Look for the balance the IRS shows for the relevant tax year. If anything seems off—like payments you made that aren’t reflected—you’ll need to raise that first.

Step B. Request a “Stay” via the Collection Appeals Program (CAP)

  • Why: Filing a CAP appeal with the IRS temporarily halts any levy action. Without this stay, the IRS can begin seizing assets immediately.

  • What It Entails:

    1. Submitting a brief CAP request explaining why you believe the IRS is mistaken or why you need more time to resolve.

    2. Attaching just enough documentation to show there’s an open question about the liability or your ability to pay.

  • Why You Should Call Polaris: We handle the entire CAP submission for you—making sure it’s filed on time, appropriately worded, and includes the bare minimum documentation needed to trigger the stay.

Step C. Work Toward a Longer-Term Resolution (Installment, OIC, or Other)

  • Why: A CAP stay is temporary. To avoid a future levy, you must either pay the full balance, enter a new Installment Agreement, or explore an Offer in Compromise (if you truly cannot pay).

  • Key Options at a Glance:

    • Installment Agreement (IA): If you can pay something each month, you can usually keep the levy off your accounts.

    • Offer in Compromise (OIC): If you genuinely can’t afford anything close to the full amount, you may qualify to settle for less.

    • Currently Not Collectible (CNC) Status: If your financial hardship is severe (e.g., your outlays exceed income), IRS may temporarily suspend collections.

Note: All of these options require careful financial documentation. The IRS will ask for a summary of income and expenses, and if it’s not prepared correctly, your request can be rejected—meaning the IRS could proceed with the levy.

Why You Need Polaris for CP504 Cases in Charlotte

Rather than trying to navigate each form, deadline, and technical nuance on your own, here’s what Polaris brings to the table:

  1. Deadline Management

    • CP504 appeals generally must be filed within 30 days of the notice. We track that deadline automatically—so nothing is filed late.

  2. High-Level “Selective Documentation”

    • We will review your transcript, identify only the most critical documents (e.g., proof of a recently filed amended return), and bundle them together so they’re persuasive—but we won’t overload the IRS with every scrap of paper you own.

  3. Precise Language

    • The IRS expects a certain tone and format. Too much detail can backfire; too little detail can lead to outright rejection. We know exactly how to phrase your CAP request so it’s taken seriously without giving away every argument you’d make in Tax Court.

  4. Follow-Up & Escalation

    • Once we file the CAP request, we monitor IRS systems daily. If the IRS tries to slip a levy through, we have escalation protocols (e.g., contacting Practitioner Priority Service or TAS) to ensure your accounts remain off-limits.

  5. Seamless Transition to Longer-Term Resolution

    • If an Installment Agreement or Offer in Compromise makes sense, we prepare and submit all necessary information, negotiate on your behalf, and keep the IRS moving in your favor—without you having to fill out a form.

Next Steps: How to Get Polaris’s Help Today

Schedule a Free “Notice Review” Consultation

We’ll review your CP504 (or any other IRS notice) and discuss next steps.

Ready to avoid an IRS levy?

Call our Charlotte Tax Resolution team at (704) 947-3178 or click below to book your free consultation:
Schedule Your Free CP504 Consult