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The CP 501 notice is often called the 30 day notice. This notice tells what you owe for one tax year. If you agree and can pay the amount due, send in the payment along with the self-enclosed envelope and voucher. This will assure you that payment goes to the right place and gets applied against the right tax year. If you are unable to pay the amount, consider calling us for a free initial consultation to see what options are available to you. If you ignore this letter, it will eventually lead to a tax lien, an IRS levy against your bank accounts, IRS garnishment against your wages or all three. If this letter and ones that will follow it are unopened you are basically saying to the IRS, “Take whatever you want from me.”