Got IRS notice CP523? Here's what it means.
CP523: Your payment plan is about to end.
How serious: Urgent: plan in default
What it means
You've defaulted on your installment agreement. The IRS intends to end the agreement and levy your assets.
Your deadline
What happens next if you wait
If you don't respond, the IRS ends the agreement and starts collection, which can include a tax lien or levies on wages and bank accounts.
What to do now
- Make the missed payment before the termination date if you can.
- Contact the IRS right away about reinstating. There may be a fee, or you may need to pay any new tax in full.
- Figure out why the plan broke (new balance, missed payment, unfiled return).
- Call us. We'll help you get back on track.
- Free call. Tell us what letter you got or what's being taken.
- Form 8821. You sign it, and we pull your IRS transcripts so we can see exactly what the IRS sees: balances, years, unfiled returns, and notices.
- A plan in plain English. We explain your options (payment plan, hardship, penalty relief, filing missing returns) and what the IRS will need from you.
- We prepare the paperwork with you: financial statements, missing returns, and letters.
- We get on the phone with you. When you call the IRS, we join the call and help you. You speak for yourself, and we're right there.
Talk to Kathleen directly. 30 years in taxes.
Call or text a photo of your letter. Free consultation. Nampa, Idaho. Helping clients nationwide.
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Common questions
Is this notice real?
Real IRS notices come by mail, have a notice number in the corner, and point to irs.gov. The IRS doesn't demand payment by gift card or wire. If you're unsure, we can check it against your IRS transcripts.
Can you call the IRS for me?
We join your call and help you, but you speak for yourself. We don't represent clients before the IRS.
What's my deadline on a CP523?
Contact the IRS as soon as possible, but no later than 30 days from the date of the notice. Pay before the termination date to keep the plan.
Source: irs.gov
Related help
Leatherneck Bookkeeping is not a law firm and does not represent clients before the IRS or any state tax agency. With your signed IRS Form 8821, we can pull your IRS transcripts and receive copies of your IRS notices. When you call the IRS, we join the call and help you, but you speak for yourself. Results depend on your facts and IRS rules; no outcome is guaranteed.
Leatherneck BookkeepingCall (208) 614-1965