Understanding IRS LT11: The Notice of Intent to Levy

What is IRS LT11?

The IRS LT11 is a formal notification sent to taxpayers indicating that the Internal Revenue Service intends to levy their assets due to unpaid taxes. This notice is a critical part of the tax collection process and signifies that the IRS is serious about collecting the owed amount.

Why You Receive an LT11

Contents of the LT11 Notice

The LT11 notice contains essential information, including:

Your Tax Liability: A detailed account of the amount owed.
Deadline for Payment: A specified date by which you must pay to avoid further action.
Consequences of Non-Payment: Information on what will happen if you do not respond, including potential asset seizure.

Implications of Receiving an LT11

Your Rights as a Taxpayer

Right to Appeal: You can contest the levy through an appeal process.
Right to Representation: You can have a tax professional represent you in negotiations with the IRS.
Right to a Fair Process: The IRS must follow due process when levying your assets.

Steps to Take After Receiving an LT11

If you receive an LT11 notice, consider taking the following actions:

Review Your Tax Situation: Understand why the IRS has issued the notice.
Contact the IRS: Speak with an IRS representative to clarify your options and obligations.
Consider Payment Options: If you can pay the debt in full, do so before the deadline.
Explore Relief Programs: Investigate options like an Offer in Compromise or Installment Agreement.
Seek Professional Help: A tax professional can provide guidance tailored to your situation.

Possible Outcomes

Successful Payment: Paying the debt can stop the levy process.
Installment Agreements: If you cannot pay in full, setting up a payment plan can be viable.
Offer in Compromise: This program allows you to settle your tax debt for less than what you owe, under certain conditions.