IRS Letter 1058
Why are you receiving this letter?
You are receiving IRS letter 1058 because you have a balance due and owing to the IRS. The IRS is notifying you that they are going to take collection enforcement action in 30 days.
- Your tax balance is greater than $25,000.
- You have unfiled tax returns.
- You are unable to pay back the taxes in full.
- You would like to negotiate down the tax balances.
- We can provide an initial review of your IRS account for $249.
- Your tax balance is less than $25,000.
- You don’t have unfiled tax returns.
- You are unable to pay back the taxes in full.
- You would like to discuss this with someone not working for the IRS to understand what is going on and the options you have.
- Your tax balance is greater than $25,000.
- You have unfiled tax returns.
- You are unable to pay back the taxes in full.
- You would like to negotiate down the tax balances.
What you should do?
Read your notice 1058 carefully. It explains the tax form and tax period(s) this Notice applies to.
This is your final chance to set up an arrangement with the IRS before enforcement action is taken. We strongly recommend you consider your options for resolving the taxes. You have 30 days to address this letter. This may include paying the balance in full or setting up an arrangement with the IRS. You can call the IRS to request more time to evaluate your options. But your request for additional time will be temporary. The IRS will ask you for information such as where you work, where you bank and if your business has any government contracts. This information is requested to update the IRS system for potential levy sources.
For additional help, contact a tax professional to explore your options for making an arrangement with the IRS.
What can you expect next?
IRS letter 1058 is considered a tax bill. The IRS asks that you pay the balance due in full. You do have options. Failure to respond to this letter will limit the options available to resolve your case with the IRS. Do not wait! Take the next steps to set up an arrangement with the IRS. Learn more about your options.
