Letter 1058A: Notice of Intent to Levy on Specific Property

The Letter 1058A is sent by the IRS to notify taxpayers that they intend to levy a specific piece of property, such as real estate, vehicles, or other assets, to satisfy unpaid taxes. This letter is often issued after previous attempts to collect the debt have been unsuccessful, and it indicates that the IRS is prepared to take legal action to seize specific assets.

Key aspects of Letter 1058A:

• Specific Asset to Be Levied: The letter will identify the specific property that the IRS intends to levy, such as real estate, vehicles, or other high-value assets. This gives taxpayers a final opportunity to resolve the debt before the asset is seized.
• Right to a Hearing: Taxpayers have the right to request a Collection Due Process (CDP) hearing to dispute the levy action or propose an alternative solution. The letter will provide instructions for requesting a hearing, which must be done within a set timeframe.
• Payment Options: The letter outlines ways to avoid the levy, including paying the debt in full, setting up a payment plan, or negotiating an offer in compromise. Taxpayers are encouraged to contact the IRS immediately to avoid the levy on their property.
• Consequences of Non-Action: If the taxpayer does not take action by the deadline, the IRS will proceed with levying the specified property to satisfy the unpaid tax debt. This could result in the forced sale of real estate or other assets.

The Letter 1058A is a serious step in the IRS’s collection process, and taxpayers should take immediate steps to resolve their tax debt or risk losing valuable property.