Types of IRS Collections Notices
Click the following links to jump to a Notice example:
CP-504, LT-11 or LT-16: Notice of Intent to Levy
This is one of the first notices you will receive from the IRS once you have officially been placed into collections and typically the IRS will request the full amount to be paid by a specified date in order to avoid collection efforts. This CP504 Notice is also commonly referred to as a LT-11 or a LT-16 Notice. These are the same notices but the IRS will code them differently. Once you receive this Notice, you are now in a position where you must start addressing these tax balances if you are not able to pay the balance in full. You have a lot of options at this point since you are still early in the process so please contact us if you want to better understand what you can do and to find the best solution to your pending issues.
CP-504 Notice of Intent to Levy (Example)
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1058: Final Notice of Intent to Levy
If you have received a Final Notice with an Intent to Levy Notice, then you already should have received the CP-504, LT-11 or LT-16 notice from the IRS and failed to take appropriate action to protect from collection efforts. This REALLY is your Final Notice and it is essential that action be taken immediately if you want to prevent property loss or garnishments to wages. Normally, when someone has progressed to this stage of collection, it is indicative of the fact they cannot pay the amount that is owed and they are unsure as to what they can do or how they should proceed. You must always remember that you have rights when it comes to the IRS and there is always a solution to your problems. You just need to be sure you take the time to understand your options. Not only can we stop any collection efforts but we will determine the specific outcome to your issues so you no longer have to live in fear of actually being garnished or falling susceptible to asset seizure if you just reach out and let us know what’s going on. Again, this really is a FINAL NOTICE OF INTENT TO LEVY, so be sure you take necessary action IMMEDIATELY!
1058 Final Notice of Intent to Levy (Example)
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CP90: Intent to Seize Assets or Right to a Hearing
Similar to the Final Notice with an Intent to Levy, this is a notice the IRS will issue to any taxpayer who has failed to respond to any of the previous requests by the IRS to pay off the balances owed. However, this notice is to indicate they are going to actually pursue aggressive collection through the seizure of physical assets. This can include vehicles, boats, motorcycles, rental property, retirement accounts, or even your primary residence. They do not issue a hard deadline which is very scary. TO ensure you are not blindsided and fall vulnerable to having your assets taken away from you, please contact us today so we can determine what is in your best interest to prevent collection and ultimately resolve the pending issues at hand.
CP90 Intent to Seize Assets (Example)
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668-D: Release of Levy/Release of Property from Levy
This is one of the few notices you will receive from the IRS that is actually positive. Once you have been levied by the IRS and either your wages were garnished or your bank account was frozen, this is the notice you will receive as official documentation that you are no longer under collections and the garnishment and/or bank levy has been released. You are now free from levy but you must perform proper resolution work to ultimate protect from the IRS coming back and hitting you with a future garnishment/levy that will require you to go through this entire process all over again. Stop the agony and make sure you receive full and complete resolution to your tax debt. Now that you are no longer under enforcement, we can start focusing on settling your debt through an Offer in Compromise, establishing a payment plan that works within your budget and goals, or a Currently Not Collectable Status if you just can’t afford to make any payment to the IRS. Call or e-mail Colonial Tax Consultants– Let’s spend some time to discuss what is best for you and your situation.
668-D Release of Levy (Example)
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