Receiving a CP1058 Notice from the IRS can be a stressful experience, but understanding what it means and how to address it is crucial for protecting your financial future. Here’s a comprehensive guide on what this notice entails and the steps you should take to resolve the issue.
What is a CP1058 Notice?
The CP1058 Notice is a final warning from the IRS before they take enforced collection actions against you. This notice is sent when your tax debt remains unpaid, and the IRS is preparing to levy your assets or garnish your wages. It’s a critical step in the IRS collection process and indicates that you have 30 days to act before further actions are taken.
Steps to Address a CP1058 Notice:
- Review the Notice Carefully: Ensure you understand the amount owed and the IRS’s intent to levy.
- Pay the Amount Due: If possible, pay the full amount immediately to avoid further actions.
- Set Up an Installment Agreement: If you can’t pay in full, apply for a payment plan to manage your debt over time.
- Explore Relief Options: Consider options such as an Offer in Compromise if you qualify for settling your debt for less than the full amount.
- Seek Professional Help: Navigating IRS notices can be complex. Consulting a tax resolution expert is highly recommended to ensure you address the situation effectively.
Why Choose Total IRS Relief?
At Total IRS Relief, we understand the challenges that come with dealing with IRS notices. Our experienced team, including William Sharpe and Jeff Lichtenberger, is dedicated to providing personalized, affordable solutions to resolve your tax issues. We have a proven track record of defending our clients and achieving favorable outcomes.
Don’t face the IRS alone. Call us at 877-924-1040 today for a consultation and take the first step toward resolving your tax problems.
Written by
William Sharpe, E.A., C.T.R.S.
Founder & Certified Tax Resolution Specialist
William has been in the tax business since he was 8 years old, starting in the mail room of the family enterprise. He began filing tax returns in 1999 and spent decades shadowing his grandfather, founder Bill Sharpe. In 2005 he teamed with Bill & Deborah Sharpe to open Total Income Tax — today the busiest tax office in Peoria — and in 2016 he founded Total IRS Relief to help taxpayers resolve their IRS and Illinois tax struggles.
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