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Letter 1058 (LT11)- You have a right to a hearing

Letter 1058- Final notice

The IRS Letter 1058 is an important communication from the IRS to you that you should pay serious attention to. It is also called LT11. If you have received this notice from the IRS, we implore you not to keep it aside or ignore it.

Every IRS letter should be read and attended to. However, some letters are of more pressing urgency than others.

While some letters can be easily ignored without attracting any consequence, others will attract dire consequences if not attended to. An example is the IRS LT11 or Letter 1058.

IRS letter 1058 comes to request, or rather, demand payment from you. It also comes to urge you for the last time, to resolve the issues you have with your tax, or else, collection actions will be taken against you. This is why IRS letter 1058 is also a final notice.

If you have received the IRS LT11, you may want to get assistance from a tax professional, and also ask what your options are. You can request a consultation with us by contacting us at 888-585-8629.

The final notice letter comes as a final notice warning a person about the imminent actions that will be taken as a result of their unpaid taxes.

What will the IRS do if you fail to pay the IRS Letter 1058?

When the IRS sends a final notice letter warning a taxpayer of their intentions to take action, it is never an empty threat. The IRS sends you this final notice letter through the email on your last address that is contained in their records. They notify you because failure on your part to pay, resolve, or appeal can lead to the IRS doing any of the following:

– File a notice of federal tax lien on your assets (both current assets and future assets).

– Attach a levy to your earnings or bank accounts.

Because the IRS lt11 is a final notice, it means that it must have been proceeded by other notices like the CP501, CP502, CP503, and CP504 which serve the following purposes:

– Initial balance due reminder

– Second request for payment

– Third reminder about unpaid taxes and – Intent to levy state tax refund or other property respectively.

These notices prove that the IRS has been patient with you for a long time. When Letter 1058 comes, it means that they are ready to take action. A time frame is given after which if you do not respond, serious actions will be taken against you. The time frame is usually stipulated as within 30 days from the day you receive the letter.

If the set 30 days elapse and you have not done anything in response to the notice, the IRS can decide to levy your assets or go as far as revoking your passport, depending on the size of the debt you owe in unpaid taxes.

 

 What can I do after receiving IRS lt11?

There are a few options available to you if you have received this letter. Of course, the first thing to do after reading through the notice is to respond. But knowing how and what to respond to is crucial. Usually, what is expected of you is payment.

If you agree with the information on the notice and you can afford to pay what you owe in full, do that immediately. There are instructions on the notice you received on how to make payment.

If on the other hand, you agree but can not pay fully at the moment, you are at liberty to request payment plans from the IRS. Contact the IRS immediately to discuss your options, or better still, contact us and we will find a plan that the IRS will be most likely to agree to.

The option to file an appeal is also available for people who do not agree with the amount. You are allowed to file Form 12153– Request for a Collection Due Process or Equivalent Hearing. The notice you have received tells you how to go about filing an appeal if you do not agree with the information it contains. You have the liberty to try to informally resolve the situation with the IRS before the hearing.

Whatever decision you choose to make, it is pertinent that you act as soon as you can by reaching out to the IRS before the deadline. Do not allow the days to pass you by because the actions the IRS will take may be unpleasant to you. Contact us for urgent assistance.

Need more help with an impending lien or levy? Call us at  888-585-8629 and 617-430-4674 or send us an email at [email protected].