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By: Brian Barto, EA
Our firm works with clients in and around Winchester, VA to resolve their tax problems. Word on the street is the IRS will be sending out millions of Letter 11 notices on Jun 15, 2021. If you owe back tax debt from 2019 or 2020 and have already been notified that you owe...and have not entered into a resolution agreement with the IRS, you may be receiving one of these letters. The Letter 11 is a Notice of Intent to Levy. A Letter 11 is generated by the IRS Automated Collection Service (ACS). This means they are automatically generated if you have taxes due. If you receive a Letter 11, the clock starts running. If you do not respond, the IRS could tap into your bank account or garnish your wages.
A tax levy is the actual seizure of a taxpayer’s property by the government to use to resolve a back tax debt. Before the IRS can levy a taxpayer’s assets the taxpayer must be given written notice and the right to a Collection Due Process hearing. Levies are issued after the IRS has issued notices to the taxpayer seeking payment and they have gone either unanswered or the taxpayer has failed to implement and stick with a payment plan.
What does a Letter 11 look like? In bold type on page 1, it will say, “Intent to seize your property or rights to property. Amount due immediately: $xxxx.xx”. In the upper right corner of page 1 on the notice line, it will have LT11. Buried in the Letter 11 on page 2 is the statement offering you the right to request a Collection Due Process hearing.
If you receive a Letter 11, it is important to take action. Requesting the Collection Due Process (CDP) hearing is a critical step of the process...and must be requested within 30 days. This would be a great time for you to contact a professional who specializes in tax debt resolution. Our next blog post coming out in a few days will discuss the importance of requesting the CDP hearing.
At Tax Debt Resolution Services of Winchester VA, we help you eliminate your IRS issues and the stress the IRS has created in your life and help you get back to doing what you do best! We help our clients in Winchester, VA to resolve their tax debts! If you need assistance please feel free to contact me at 540-662-4432 or brianbarto@libertytax.com.
Brian Barto
24 Weems Lane
Winchester, VA 22601
540-662-4432