A CP501 notice is a reminder that you still owe a balance the IRS previously billed you for.
What Triggered This Notice
Per IRS.gov: “You received this notice because we haven’t received your payment or a response to the previous notice requesting you pay this balance.”
Your Deadline
Pay by the due date shown on the notice.
What Happens If You Miss It
The IRS can file a federal tax lien, which damages business creditworthiness. Interest continues accruing and additional penalties may apply. The next notice in the sequence is typically CP503.
What To Do
Pay online or by mail, apply for a payment plan (Form 9465 or the online agreement tool), or request a Collection Appeals Program review before any collection action starts.
Source: IRS.gov — Understanding Your CP501 Notice
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