How Should I Respond to an LT11 Letter?
Receiving a letter from the IRS can be stressful, but some letters carry more weight than others. The LT11 notice, in particular, is one that demands immediate attention. If you’ve received an LT11 letter, it means the IRS is taking serious steps to collect unpaid taxes and may start taking action against your property or income. Let’s break down what this letter means and how you should handle it.
What Does an LT11 Letter Mean?
The LT11 letter is a Final Notice of Intent to Levy from the IRS. In simple terms, this means that the IRS plans to take legal action to collect the money you owe. They might levy (seize) your bank accounts, wages, or other property to pay off your tax debt. This is one of the last warnings the IRS sends before they actually start taking your assets, so it’s not something you should ignore.
The IRS is giving you 30 days from the date of the letter to resolve your tax debt. After that, they can move forward with the levy and collection process. If you don’t take action during this time, the consequences can be severe and long-lasting.
What Should You Do After Receiving an LT11 Letter?
- Don’t Panic—But Don’t Ignore It Either The worst thing you can do is set the letter aside and hope it goes away. Ignoring an LT11 notice will only lead to more financial stress as the IRS begins the levy process. It’s important to act quickly, but you don’t have to deal with it alone.
- Understand Your Rights Receiving an LT11 letter doesn’t mean all is lost. You have the right to request a Collection Due Process (CDP) hearing, which gives you a chance to discuss the situation with the IRS and possibly stop the levy before it happens. During this hearing, you can explore options like installment agreements or an Offer in Compromise.
- Get Professional Help The LT11 letter signals that your tax situation has reached a critical point, and dealing with the IRS on your own could lead to costly mistakes. A tax professional can review your case, communicate with the IRS on your behalf, and help negotiate a plan that protects your assets and keeps you from financial ruin.
Why You Should Call Accelerated Tax Resolution
If you’ve received an LT11 letter, time is of the essence. At Accelerated Tax Resolution, we specialize in helping individuals and businesses resolve tax debt issues quickly and effectively. With over 33 years of experience, our team knows how to navigate the IRS’s complex rules and protect your rights. We can help you file for a CDP hearing, set up payment plans, or negotiate a settlement to resolve your debt.
Don’t wait until the IRS starts taking your wages or bank accounts. Call us today at 630-428-3015 for a free consultation and let us help you resolve your tax issues before it’s too late.
Why Should I Hire a Professional for My Tax Debt?
Dealing with tax debt can be overwhelming. Whether you're behind on payments, facing penalties, or dealing with IRS collection efforts, it’s not a situation anyone wants to navigate alone.
Many people wonder if they can handle it on their own, or if hiring a professional is really necessary. In most cases, working with a tax professional is the smartest decision you can make. Here’s why.
Expertise You Can Trust
Tax laws are complicated and constantly changing. What you might think is a simple mistake or miscalculation could have serious financial consequences.
A tax professional, especially one experienced in tax debt relief, understands the ins and outs of the tax code and can help you avoid further penalties or issues with the IRS. They’ve been trained to spot problems and find solutions that a non-expert might overlook.
Saving Time and Stress
Handling tax debt requires a lot of paperwork, knowledge of deadlines, and communication with the IRS or state tax authorities. If you’re already struggling to make ends meet, adding this responsibility can be mentally exhausting.
A tax professional can handle this process for you, ensuring everything is done correctly and on time, giving you the peace of mind that your case is in good hands.
Better Financial Outcomes
When it comes to tax debt, the goal is to minimize the amount you owe and avoid harsh penalties. Tax professionals are skilled in negotiating with the IRS to reduce the debt, set up payment plans, or even eliminate penalties through programs like Offer in Compromise or Innocent Spouse Relief.
By understanding all the options available, a professional will help you achieve a much better financial outcome than if you handled the situation on your own.
Avoiding Long-Term Consequences
If you don’t resolve your tax debt properly, it could lead to wage garnishments, bank levies, or even the loss of your property. Tax debt can also damage your credit score and follow you for years. A tax professional will make sure you avoid these long-term consequences by working toward a resolution that addresses your specific situation. They’ll ensure that everything is done correctly and that you don’t miss any crucial steps.
Why Accelerated Tax Resolution is Your Best Choice
At Accelerated Tax Resolution, we understand how stressful dealing with tax debt can be.
With over 33 years of experience helping clients like you, we have the knowledge and resources to handle even the most complex cases. We specialize in finding tailored solutions that work for your unique situation.
If you owe more than $10,000, the time to act is now.
Let us help take the weight off your shoulders. Call us today at 630-428-3015 for a free consultation.
We’re here to help you resolve your tax debt and get back on track.
