If you have received this notice, it means you have ignored previous notices. The IRS intends to levy on certain assets. If you owe for more than one tax period, you will receive one of these notices for each year. This is one of the statutory notices. You may receive this notice even if you have decided to make installment payments or you have been placed in a "hardship" status. If this is the case, call the number on the notice immediately and advise them. Be sure to write down the name and badge number of the person you speak to as well as the date and time of the call. CP-523 (Notice of Intent to Levy) means that 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.