00:00Hi, I'm Jamie Flores, the managing partner at the Law Offices of Nick Namath, and today we're
00:05going to go over the IRS letter 1058. So this is an actual copy of a 1058. It is a very serious
00:13letter. So if you've received one of these in the mail, you need to listen very closely.
00:17What is it? So it is a final notice intent to levy that comes from a revenue officer. That
00:23means it's a local office agent that is assigned to your case. Usually it's because small business
00:29self-employed division is sending these out. And it's telling you, you have a balance owed
00:35to the IRS and they are collecting. Now, this final notice intent to levy is just that. It
00:41is a final notice. It means you now have a right to a collection due process hearing. And it
00:48tells you that in the title. This document gives you one, a copy of what you need to do
00:54to request your collection due process hearing. And you're going to file that. And it tells
01:01you here, file form 12153. This notice comes certified mail, and it comes with a copy of
01:07that CDP request that you need to file. It also tells you the deadline. The deadline is
01:1330 days, not 31. If you do not file this form in 30 days, you are not protected from levies
01:21happening. That means they can garnish your paycheck. They can levy your bank account.
01:25They can levy retirement accounts. They can contact your payors if you are self-employed.
01:31So it's very serious. Now, it doesn't mean there's nothing else you can do. You can then
01:35file the equivalent hearing, which you have day 31 to day 365 to file the equivalent hearing.
01:43Same form. That's why the title of the form is request for collection due process or equivalent
01:49hearing. So day 1 to 30, you're going to file your CDP. Day 31 to 365, you can file your
01:56equivalent hearing. So it also tells you how to file for that appeal. Then it will go into
02:03detail on what they can levy, which I went over some of the main ones with you already.
02:07It explains to you that they can deny or revoke your United States passport. So depending on
02:13how much you owe, they passed a law that they can put a passport restriction in place. Usually
02:18that means you can't go and update your passport or get a new passport. It explains the penalties
02:23and interest and how they calculate that. It tells you who is contacting you. So this
02:28one is a revenue officer, what their employee ID number is and how do you get back into contact
02:33with them. And then the last page is most important because you need this information in order
02:38to file that CDP request. It tells you what form, so this is a personal 1040, what the tax periods
02:45are, so what years you have balances for, the dollar amount that is unpaid, and then how much you now
02:51owe because of penalties and interest. So this is the information you need to input on that form to make
02:57sure that you are protected by filing your appeal for all the years that are in question that have a balance.
03:02So again, an LT1058 is a final notice intent to levy that you need to take immediate action on or get
03:11counsel or somebody to help you with that. It is, if you need help filing the CDP, there is another
03:18informational video on filing of the CDP or equivalent hearing paperwork. Thank you.
Comments