Letter 1058: Final Notice of Intent to Levy and Right to a Hearing

The Letter 1058 is one of the final warnings sent by the IRS before they begin levying a taxpayer’s property, wages, or bank accounts to collect unpaid taxes. This letter, also known as the “Final Notice of Intent to Levy,” serves as both a final notice of the IRS’s intention to seize property and an invitation to the taxpayer to request a Collection Due Process (CDP) hearing.

Key aspects of the Letter 1058:

• Intent to Levy: The IRS indicates that unless the taxpayer takes immediate action, they will begin seizing assets to satisfy the outstanding tax debt. This could include garnishing wages, levying bank accounts, or seizing property.
• Right to a Hearing: The taxpayer has the right to request a CDP hearing to appeal the levy action. The letter includes instructions for requesting the hearing, which must be done within 30 days of receiving the notice.
• Resolution Options: Taxpayers can avoid the levy by paying the tax debt in full, setting up a payment plan, or submitting an offer in compromise. The letter will outline the various payment options available.
• Consequences of Inaction: If the taxpayer does not respond or request a hearing, the IRS will proceed with levying their property to satisfy the tax debt.

Receiving Letter 1058 is a serious step in the IRS’s collection process, and taxpayers should act quickly to resolve their debt or dispute the levy.