Getting an LT11 notice means that the IRS intends to levy your property or rights to property. It is also similar to a CP504, but the main difference is that an LT11 notice is the final notice before the IRS will actually levy your property. You are given 30 days before they can take any action. The IRS can take away wages, your bank account, personal and business assets, and pension benefits.
What to do when you receive an LT11 Notice
- If you can pay the unsettled amount, make the payment to avoid interest and penalties. However, if you cannot pay the amount they are charging, you can also contact them to discuss the possibility of setting up a payment plan.
- If you can’t make the payment, you should call the IRS to inform them. You may find their contact number in the notice.
- Make sure to inform them if you already settled the amount due. Send the IRS proof of payment to the address provided in the LT11 Notice.
- You can also hire a law firm like ours to just deal with it for you. We then make the calls, see what is needed and get a hold from the IRS on collection activity to get time to submit a resolution.
How much time you have respond is on the LT11 Notice
The notice indicates that you have 30 days to respond. In the LT11 notice, you may find the due date on the left side of the letter.
What happens if you fail to do take appropriate steps
When the due date has passed, the IRS can start levying your bank accounts, garnishing your wages and may issue a Notice of Federal Tax Lien. Since the creditors will be notified that the government has rights to your current and any future assets you may have, your credit score will be greatly affected. There is also a chance that IRS will deny your US passport, but you will be given a separate notice before that takes effect.
You have the right to make a Collections appeal
If you don’t agree with the what the LT11 notice is demanding from you or that you have not been given due process, you can file an appeal before collection action takes place Taxpayers request an appeal for the following reasons:
- They believe that there was a mistake with the amount being charged to the taxpayer
- A payment was already made but it wasn’t reflected on the taxpayer’s account
- Lack of due process
What are the other tax negotiations available
There are different kinds of tax negation options available if you are looking for other ways to settle your debt.
- Payment Agreement – this is a monthly installment plan that is usually paid for three years
- Offer In Compromise– the IRS will agree to let you pay your debt at a lower amount
- Currently Not-Collectible – the IRS will put your tax debt temporarily on hold. They review this every two years.
- First Time Penalty Abatement – this can also lower the amount that you owe
Tax relief options can change based on your situation…
Take note that the IRS checks your ability to pay before approving the mentioned options above. They would check your current assets and liabilities. It is recommended to seek legal advice to know the best course of action.
Check our Contact Page to get the help you need. We order the information, check it all out, file what needs to be filed, and proceed on the best resolution. We only take cases in which we can help and the initial consultation is free.