USTaxPenaltySaverCP297
CriticalNotice of Intent to Levy - Business
The IRS intends to levy your business assets for unpaid taxes.
Response Deadline
30 days from notice date
Respond before this deadline to avoid additional penalties and enforcement action.
What This Notice Means
CP297 is the business version of CP504. It indicates the IRS intends to levy business assets. While CP297 itself does not grant CDP rights, it warns that enforcement is imminent. CP297A and CP297C indicate levy action may have already begun on some assets.
Why You May Have Received This
- 1Unpaid employment taxes
- 2Did not respond to CP161 and follow-up notices
- 3Payment arrangement defaulted
Required Actions
1
Contact IRS immediately
2
Set up payment arrangement
3
Consult tax professional for business tax issues
Your Options
Use these calculators to understand your situation and explore resolution options.
Consequences If Ignored
- Business bank accounts may be frozen
- Accounts receivable may be seized
- Equipment and inventory may be seized
Tips & Best Practices
- Business bank accounts can be levied
- Accounts receivable can be seized
- Final Notice (Letter 1058) will follow with CDP rights
Related Resources
Legal References
IRC § 6331IRM 5.19.4
Ready to Take Action?
Our guided workflow will walk you through exactly what to do for this notice, step by step.