What Does an LT1058 Notice Mean?
IRS Letter LT1058 is a critical warning-officially titled "Final Notice of Intent to Levy and Notice of Your Right to a Hearing." It means the IRS is preparing to seize (levy) your assets if your tax balance is not addressed within the 30-day deadline.
- Displays the full tax balance you owe, including penalties and interest currently on record.
- Provides a strict 30-day response window before the IRS may initiate levy action.
- Warns that the IRS may seize wages, bank accounts, federal refunds, Social Security income, business assets, or other property.
Why You Received an LT1058
The IRS sends LT1058 when previous notices went unanswered and your tax balance remains unresolved. At this stage, the IRS is preparing to escalate to enforced collection.
- You have an overdue debt the IRS has been attempting to collect.
- Earlier notices such as CP14, CP501, CP503, or CP504 were ignored or not fully resolved.
- The IRS is preparing to levy assets unless immediate action is taken.
How to Respond to LT1058
An LT1058 requires immediate action. You have 30 days to pay, challenge the notice, or set up an agreement before the IRS can legally seize your property.
- Review the Notice: Confirm the tax years, balance due, and whether the information aligns with your records.
- If You Agree With the Amount: Paying the balance in full will prevent enforcement and close the matter.
- If You Can't Pay in Full: Explore payment options such as installment agreements, hardship status, or settlement programs.
- If You Disagree With the IRS: File Form 12153 to request a Collection Due Process hearing and pause levy action.
- Document Everything: Keep copies of the LT1058, payment confirmations, communication records, and any appeal documentation.
When You Should Contact a Tax Professional
An LT1058 indicates the IRS is close to enforcing a levy. If you’re uncertain about the balance, need representation, or want to avoid asset seizure, a tax professional can help protect your rights.
- You believe penalties, interest, or the tax balance are inaccurate.
- You need time to pay or require an affordable resolution option.
- You want professional representation to communicate with the IRS.
- You want to prevent levy, liens, and other enforced collection actions.
