Final Notice of Intent to Levy

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Letter 1058 or LT 11 or LT 297

THE GLOVES ARE OFF.

By the time you receive a FINAL NOTICE OF INTENT TO LEVY, the IRS considers your tax liability to be seriously delinquent. This notice—if the conditions stated are not met—gives the IRS authority to levy your state tax refund, wages, bank accounts, and even seize physical assets. It gives a hard deadline of 30 days, during which time you must either pay in full (or make approved payment arrangements), or file a request for a Collection Due Process (CDP) hearing.

It is very possible that a levy may be issued by the IRS on the 31st day, so this notice carries much more weight than any of the previous notices (such as CP501, CP503, CP504) you may have received.  It is crucial to take decisive action to address this problem before the IRS addresses it for you.

Filing for a CDP hearing with the IRS Office of Appeals gives you an opportunity to reach a resolution to your tax matter without intrusive collection action. Taking advantage of this opportunity can be part of a winning strategy for many taxpayers, and at the very least, it can be a useful way to gather information to help formulate next steps.

These opportunities are not infinite. Each step along the collections path, each new threatening notice, ties the knot tighter and tighter, reducing the options and chances to appeal. If you have received a Final Notice of Intent to Levy—even if you’re already past that ominous deadline—give WatchGuard a call.  We are experts at untying these kinds of knots.

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