IRS Letter 1058

When you receive IRS Letter 1058, it’s more than just a notification—it’s a clear signal that the IRS is prepared to seize your property. This letter requires immediate and decisive action to avoid severe consequences. Understanding the gravity of Letter 1058 and how to respond effectively is crucial to protecting your assets and financial stability.

What is IRS Letter 1058?

Letter 1058, also known as the Final Notice of Intent to Levy and Notice of Your Right to a Hearing, is a serious warning from the IRS. Similar to the CP90 Notice, it indicates the IRS’s intent to seize your property if you do not pay your tax debt or make arrangements to settle it. This letter gives you a 30-day window to respond before the IRS proceeds with aggressive collection actions.

The Dire Consequences of Ignoring Letter 1058

Failing to address Letter 1058 can lead to severe repercussions. The IRS has extensive powers to collect unpaid taxes, and ignoring this notice can result in:

• Levy on Bank Accounts: The IRS can levy your bank accounts, seizing funds to cover your tax debt.
• Wage Garnishments: The IRS can garnish your wages, requiring your employer to withhold a significant portion of your paycheck.
• Property Seizure: The IRS can seize your personal and business assets, including real estate, vehicles, and other valuable property.
• Tax Refund Offsets: The IRS can apply your future federal and state tax refunds to your outstanding tax debt.

Why You Need Experienced Tax Lawyers to Respond to Letter 1058

Dealing with IRS notices on your own can be overwhelming and risky. Our experienced tax lawyers at Davis Law Firm are equipped to help you navigate this critical situation effectively. Here’s why professional assistance is essential:

1. Expertise in Tax Law: Our team has extensive knowledge of both federal and Texas state tax laws, ensuring your case is handled with the highest level of expertise.
2. Strategic Response Planning: We help you develop a comprehensive plan to address your tax debt, whether through installment agreements, offers in compromise, or other IRS programs.
3. Representation and Negotiation: We represent you in communications with the IRS, working to prevent or mitigate aggressive collection actions and negotiate the best possible resolution.
4. Protection of Your Rights: Our lawyers ensure that your rights are protected throughout the process, including your right to a Collection Due Process (CDP) hearing.

Immediate Steps to Take When You Receive Letter 1058

Time is of the essence when dealing with IRS Letter 1058. Here are the critical steps you should take:

1. Review the Notice Carefully: Understand the details of your tax debt, the deadlines, and your rights, including the right to request a CDP hearing.
2. Gather Relevant Documents: Collect all pertinent financial documents, including previous IRS notices, tax returns, and payment records.
3. Contact Davis Law Firm Immediately: Reach out to our experienced tax lawyers to review your case, provide expert advice, and start developing a plan to resolve your tax debt.

Safeguard Your Assets and Financial Stability

Do not wait for the IRS to take further action. The consequences of ignoring Letter 1058 can be severe and far-reaching. Protect your assets and secure your financial future by seeking professional help today.

Contact Davis Law Firm, Tax Lawyers, in Carrollton, Texas, serving Collin, Dallas, Denton, Grayson, Ellis, Grayson, Tarrant, and surrounding Texas Counties. Call us now at (469) 436-8010 to schedule a consultation. Our dedicated team is here to help you navigate this challenging situation and achieve the best possible outcome.

Receiving IRS Letter 1058 is a critical matter that demands immediate and informed action. By understanding the implications and taking proactive steps with the assistance of experienced tax lawyers, you can effectively address your tax debt and prevent severe consequences. Don’t face the IRS alone—let Davis Law Firm be your trusted partner in resolving your tax issues and safeguarding your financial well-being.