What Should I Do if I’ve Gotten a CP1058 Letter?

Getting a letter from the IRS is always a bit scary, especially when it’s a CP1058 letter.

But don’t worry! By understanding what it is and what you need to do, you can handle it confidently.

What Is a CP1058 Letter?

A CP1058 letter is a final warning from the IRS that they intend to levy your assets, which means they plan to take your property or money to cover unpaid taxes.

This could involve taking money from your bank account, your wages, or other assets. It’s the IRS’s way of saying, “Pay your taxes, or we will take action.”

What Happens in 30 Days?

After you get a CP1058 letter, you have 30 days to respond. If you don’t do anything within that time, the IRS will start the process of levying your assets. But, during those 30 days, you have options to resolve the issue.

What Can I Do?

1. Pay the Full Amount: The simplest way to stop the levy is to pay the full amount you owe. This will settle your debt and end the levy process.
   
2. Set Up a Payment Plan: If you can’t pay everything at once, you can arrange a payment plan with the IRS. This lets you pay off your debt over time with monthly payments.
   
3. Dispute the Amount: If you think the IRS made a mistake, you can dispute the amount they say you owe. You’ll need to provide proof to support your claim.
   
4. Request a Collection Due Process Hearing: If you need more time or want to challenge the levy, you can request a Collection Due Process (CDP) hearing. This gives you a chance to discuss your situation with an independent IRS officer.

Why You Need Professional Help

Dealing with the IRS can be complicated and stressful. Having a tax professional on your side can make a huge difference. They know the rules and can guide you through the process, giving you the best chance of a positive outcome.

Why Rochelle Margucci Is the Right Choice

When it comes to IRS issues, Rochelle Margucci is the expert you need. With over 40 years of experience as an Enrolled Agent, Rochelle specializes in representing clients before the IRS and state tax authorities. She is dedicated to providing top-notch service and goes above and beyond to ensure her clients are satisfied.

Rochelle believes in building personal relationships with each client, offering customized service to meet their specific needs. Whether you’re dealing with a CP1058 letter or other tax problems, Rochelle has the expertise and dedication to help you navigate the IRS system successfully.

Contact Rochelle Margucci Today

Don’t wait until it’s too late.

If you’ve received a CP1058 letter or have other tax issues, contact Rochelle Margucci now. Let her experience and dedication help you resolve your tax problems and find peace of mind.

Call Rochelle today at (916) 372-8577.