This notice informs you if you are facing a tax levy or lien due to unpaid tax debt.
Beginning from the day the IRS sends the notice, you are given 30 days to pay the amount in full, set up a payment plan or apply for an Offer In Compromise (OIC).
A payment plan lets you pay in monthly installments until the debt is paid off.
If you qualify for an OIC, the IRS offers to forgive the debt at a significantly smaller price due to financial hardship or another reasonable situation.
These letters include:
- A statement showing their previous attempts to reach you
- The IRS’ right to perform a tax levy, tax lien, or wage garnishment if you do not pay
- An explanation on how to stop the collections process
If you receive this notice, we recommend you meet with a tax professional to determine your best options.