Final Notice of Intent of Levy – IRS Letter 1058 or L-1058/LT11

If you received a letter that reads ‘IRS Letter 1058/LT11’, know that it is a final notice from the IRS (Internal Revenue Service) reminding you about the balance you still owe. Moreover, if you do not resolve your delinquent matter, they will make an attempt to levy your bank accounts, garnish wages and other assets within the next thirty days. In most cases, a CP 504 (a final notice of your due balance) is sent before the IRS Letter 1058. Ideally, IRS Letter 1058/LT11 is more formal than other notices that you may have received by now. It will tell you that they will also be looking for other assets you own that can be levied. By then, you should have received prior notices that should have been addressed.

Before you continue on, let me tell you that this is the most important letter, and you should handle it with a sense of urgency as it gives you appeal rights through CDP collection due process 12153.

What should you do next, after receiving the IRS Letter?

Best way, is to call our firm right away at 1-877-788-2937, you are entitled to be represented, or of course you can choose to represent yourself before the most aggressive collection agency – the IRS.

The ideal and best possible reaction to IRS Letter 1058/LT11 is to pay the full amount you owe.

Of course, most taxpayers cannot pay the full amount, with added penalties and interest. If not, you can also contact the IRS using the phone number provided on the notice to inquire about alternative options, like payment plans, or an IRS installment agreement, and or an offer in compromise – OIC. If everything goes right, this can help you avoid IRS tax levies.

What will be the right time to get back to the IRS re: final notice letter?

Right Now. In fact, it would be in your best interest to immediately pay the balance you owe, or setup a settlement agreement with the Internal Revenue Service. This should serve as the best way to minimize the penalties and resolve your account as soon as possible.

As stated earlier, get representation! Call us right away at 1-877-788-2937.

What if I just ignore the IRS final notice?

If you don’t pay what you owe and decide to ignore the letter, the IRS will levy your wages, social security, bank accounts, accounts receivables and tax refunds. They may even end up filing a Notice of Federal Tax Lien.

What else can I do about the IRS Letter 1058/LT11?

You can talk to your tax advisor such as an EA Enrolled Agent, Tax Attorney or a CPA regarding the notice before you contact the Internal Revenue Service. Moreover, if you cannot pay back the balance now, contacting the IRS and setting up a payment agreement might be a good alternative as well. If the situation demands, an alternative resolution mechanism can also be constructed with the help of a tax power of attorney or professional representative.

What if the notice is incorrect or I don’t agree with IRS Letter 1058/LT11? What should I do then?

If you think that the notice has some discrepancy or if the notice is incorrect, you have the right to appeal it. Even if you have appealed earlier, this appeal will be more formal than those. Alternatively, you can also talk to your tax professional and take their advice on the issue.

Call us right away to get proper representation 1-877-788-2937.

 

About Mike Habib, EA NTPI Fellow®:

Mike Habib, EA Dave Ramsey Tax Services ELP Endorsed Local Provider Tax Expert

Mike Habib is an IRS licensed Enrolled Agent who owns and operates a specialized tax services boutique firm. His firm is A+ rated by the better business bureau, and an ELP endorsed local provider by Dave Ramsey.  We serve clients in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.

Client Reviews
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Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike!April S.
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Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him!Joe and Deborah V.
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Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation!Marcie R.
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Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied!Marshall W.
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I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends.Nancy & Sal V.

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