---
title: Tax Debt Blog: IRS Notices, Plans and Penalties | TaxTruce
url: https://taxtruce.com/blog
updated: 2026-10-29
---

# The TaxTruce blog

Plain answers on tax debt, with sources.

[Notices · October 29, 2026**Got a CP504? A levy may be next.**A CP504 is the IRS notice of intent to levy. Here is what the IRS can take, what comes after it, and the steps the IRS lists for you to take now.](/blog/cp504-means-a-levy-may-be-next)[Penalties · October 28, 2026**IRS interest is 7% right now.**IRS interest for individuals is 7% a year in the fourth quarter of 2026, compounded daily. Here is how it adds up with late payment and late filing penalties.](/blog/irs-interest-is-7-percent)[Offers · October 27, 2026**Only 1 in 7 offers accepted.**The IRS accepted 5,464 of 38,797 offers in compromise in fiscal year 2025. Here is what an offer costs to apply and the free IRS tool to try first.](/blog/only-1-in-7-offers-accepted)