What Should I Do If I Received an LT11 Letter?
Have you received an LT11 notice from the IRS?
Receiving any letter from the IRS can be nerve-wracking, but it can be especially stressful when it’s an LT11 notice. However, understanding what this letter means and how to respond can help you manage the situation effectively.
What Is an LT11 Letter?
An LT11 letter, also known as a Notice of Intent to Levy and Notice of Your Right to a Hearing, is a serious communication from the IRS.
This letter informs you that the IRS intends to levy (seize) your property or assets to satisfy a tax debt. This can include your wages, bank accounts, or other personal property. Essentially, it's a final warning before the IRS takes action to collect the debt.
What Happens in 30 Days?
Once you receive an LT11 letter, you have 30 days to respond. During this period, you can take several actions to address the situation and potentially stop the levy from happening. It's crucial to act quickly and understand your options.
What Can You Do?
- Pay the Full Amount Owed: The most straightforward solution is to pay the full amount of the tax debt. This will stop the levy process immediately and settle your debt with the IRS.
- Arrange a Payment Plan: If you can’t pay the full amount, you can contact the IRS to set up an installment agreement. This allows you to pay off your debt in manageable monthly payments over time.
- Submit an Offer in Compromise: If paying the full amount or even a payment plan isn’t feasible, you might qualify for an Offer in Compromise, where you can settle your tax debt for less than the full amount owed. This requires proving that you can’t pay the full amount and that settling for less is in the best interest of both parties.
- Request a Collection Due Process Hearing: If you disagree with the tax debt or the proposed levy, you can request a Collection Due Process (CDP) hearing. This hearing provides an opportunity to discuss your case with an independent IRS Office of Appeals, which can lead to a resolution without a levy.
The Importance of Hiring a Professional
Facing the IRS alone can be daunting and complicated.
Hiring a tax resolution professional can provide you with expert guidance and support, significantly increasing your chances of a favorable outcome. A professional understands IRS procedures and can help you navigate the complex system more effectively.
Why David Rappaport Is the Professional You Need
When dealing with the IRS, having an experienced and knowledgeable professional like David Rappaport is invaluable.
As an Enrolled Agent with over 30 years of experience in the field of taxation, David specializes in representing clients before all administrative branches of the IRS and State Taxing Authorities.
David's hands-on approach and commitment to Concierge Accounting mean he is dedicated to ensuring his clients’ complete satisfaction. He believes in building personal relationships with his clients, providing them with the highest level of service tailored to their specific needs.
Whether you're dealing with an LT11 letter or other tax issues, David Rappaport's expertise and dedication can guide you through the process and help you achieve the best possible outcome.
Call David Rappaport Now
Don’t wait until it’s too late. If you've received an LT11 letter or are facing any other tax issues, call David Rappaport today. Let his extensive experience and commitment to exceptional service help you resolve your tax problems and regain peace of mind.
If you’ve received an LT11 letter, the clock is ticking.
Call David NOW at (917) 488-8295.
