{"id":76,"date":"2024-08-28T19:52:18","date_gmt":"2024-08-28T19:52:18","guid":{"rendered":"https:\/\/www.westaxinc.com\/blog\/?p=76"},"modified":"2024-08-28T19:52:19","modified_gmt":"2024-08-28T19:52:19","slug":"did-you-receive-an-irs-letter-lt11-or-1058-what-is-it-and-what-to-do","status":"publish","type":"post","link":"https:\/\/www.westaxinc.com\/blog\/2024\/08\/28\/did-you-receive-an-irs-letter-lt11-or-1058-what-is-it-and-what-to-do\/","title":{"rendered":"Did you receive an IRS Letter LT11 (or 1058)? What is it and what to do?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">It is A Serious Matter Requiring Immediate Attention<\/h2>\n\n\n\n<p><strong>Understanding the Implications of IRS Letter LT11<\/strong><\/p>\n\n\n\n<p>If you&#8217;ve received an IRS Letter LT11, it&#8217;s crucial to take immediate action. This letter is a serious warning from the IRS that they intend to seize your property, including wages, bank accounts, and assets, to collect an outstanding tax debt.<\/p>\n\n\n\n<p><strong>What Does LT11 Mean?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Final Notice:<\/strong> This is the last notification before the IRS takes steps to collect the debt.<\/li>\n\n\n\n<li><strong>Immediate Payment or Arrangement:<\/strong> You must pay the full amount due or set up a payment plan to avoid seizure.<\/li>\n\n\n\n<li><strong>Right to a Hearing:<\/strong> You have the right to request a hearing to dispute the debt or negotiate payment terms.<\/li>\n<\/ul>\n\n\n\n<p><strong>Why is LT11 so Serious?<\/strong><\/p>\n\n\n\n<p>It is their last legal lletter required to be issued before they can take more drastic collection efforts, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Wage garnishment:<\/strong> The IRS can directly deduct a portion of your paycheck to satisfy the debt.<\/li>\n\n\n\n<li><strong>Bank account levies:<\/strong> The IRS can seize funds from your bank accounts.<\/li>\n\n\n\n<li><strong>Asset seizure:<\/strong> The IRS may seize your property, such as vehicles or real estate.<\/li>\n<\/ul>\n\n\n\n<p><strong>Steps to Take When Receiving an LT11 Letter<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Review the Letter Carefully:<\/strong> Understand the amount of the debt they are claiming you owe, which tax years it for and compare to your records.<\/li>\n\n\n\n<li><strong>Contact your tax preparer:<\/strong> See if they agree with the amount they claim you owe.<\/li>\n\n\n\n<li><strong>Seek Professional Advice:<\/strong> Contact a reputable Tax Problem Solving Company such as us at WesTax, Inc <strong>@ 941-893-1791<\/strong>. We&#8217;ll provide a no charge no obligation consultation to help you understand your options. If we can help you, we&#8217;ll let you know exactly how and at what cost. Some of the services we provide include: Preparation of Unfiled Income Tax Returns, Penalty Reduction, Offers in Compromise, Payment Plans, Financial Hardship Plans, Wage Garnishment\/Bank Levy Releases, Audits and IRS Appeals.<\/li>\n<\/ol>\n\n\n\n<p>Check out our blog <a href=\"http:\/\/www.westaxinc.com\">www.westaxinc.com\/blog<\/a> for more tax tips and info. Contact us at maurie@westaxinc.com or <strong>941-893-1791<\/strong> if you need immediate assistance.<\/p>\n\n\n\n<p>#taxes #taxproblems #irs #irsproblems #lt11 #1058<\/p>\n\n\n\n<p><a href=\"https:\/\/www.westaxinc.com\/consultation\" target=\"_blank\" rel=\"noreferrer noopener\">Contact Us<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/g.page\/r\/CZoNDiZh-UeCEAE\" target=\"_blank\" rel=\"noreferrer noopener\">Google<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.facebook.com\/WesTaxInc\/\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.instagram.com\/westaxinc\/\" target=\"_blank\" rel=\"noreferrer noopener\">Instagram<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is A Serious Matter Requiring Immediate Attention Understanding the Implications of IRS Letter LT11 If you&#8217;ve received an IRS Letter LT11, it&#8217;s crucial to take immediate action. This letter is a serious warning from the IRS that they intend to seize your property, including wages, bank accounts, and assets, to collect an outstanding tax [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-76","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-irs-problems","7":"entry"},"_links":{"self":[{"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/posts\/76","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/comments?post=76"}],"version-history":[{"count":3,"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/posts\/76\/revisions"}],"predecessor-version":[{"id":79,"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/posts\/76\/revisions\/79"}],"wp:attachment":[{"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/media?parent=76"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/categories?post=76"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.westaxinc.com\/blog\/wp-json\/wp\/v2\/tags?post=76"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}