What Is a Notice 1450 From the IRS?

A Notice 1450, also known as a Notice of Intent to Levy and Notice of Your Right to a Hearing, is an official document sent by the Internal Revenue Service (IRS) to taxpayers who owe delinquent taxes. The purpose of this notice is to inform the taxpayer that the IRS intends to levy their assets or property to satisfy the outstanding tax debt. It serves as a final warning before the IRS takes further collection actions.

When a taxpayer receives a Notice 1450, it is crucial to take immediate action to address the tax debt and prevent the IRS from proceeding with the levy. The notice provides important information, including the amount owed, the due date, and instructions on how to request a hearing to dispute the tax liability.

FAQs about Notice 1450:

1. Why did I receive a Notice 1450?
You received this notice because you have an outstanding tax debt that the IRS intends to collect through a levy on your assets or property.

2. What should I do upon receiving a Notice 1450?
It is essential to take prompt action. Review the notice carefully, and consider contacting a tax professional to help you understand your options and respond appropriately.

3. Can I request a hearing to dispute the tax debt?
Yes, you have the right to request a hearing with the IRS Office of Appeals. The request must be made within 30 days from the date on the notice.

4. How can I request a hearing?
To request a hearing, complete and submit Form 12153, Request for a Collection Due Process or Equivalent Hearing, which is included with the notice. Ensure you provide a detailed explanation of why you believe the tax debt is incorrect or should be reduced.

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5. Will the levy be suspended during the hearing process?
Yes, the IRS will suspend any levy action while your hearing request is pending. However, interest and penalties will continue to accrue until the tax debt is resolved.

6. What if I miss the 30-day deadline to request a hearing?
If you fail to request a hearing within the required timeframe, the IRS can proceed with the levy. However, you may still be able to address the tax debt through other means, such as an installment agreement or an offer in compromise.

7. Can I negotiate a payment plan with the IRS?
Yes, you can negotiate a payment plan, known as an installment agreement, to repay your tax debt over time. It is advisable to consult a tax professional to help you navigate the process and ensure the agreement is feasible for your financial situation.

8. What happens if I ignore or don’t respond to the Notice 1450?
Ignoring the notice or failing to respond will result in the IRS moving forward with the levy. This means they can seize your assets, such as bank accounts, wages, or even real estate, to satisfy the outstanding tax debt. It is crucial to address the notice promptly to avoid such collection actions.

In conclusion, a Notice 1450 is a significant document sent by the IRS to taxpayers with delinquent tax debt, indicating their intention to levy assets or property. It is essential to take immediate action upon receiving this notice, such as requesting a hearing or negotiating a payment plan, to prevent the IRS from proceeding with the levy. Seeking professional guidance can greatly assist in understanding your options and navigating the process effectively.

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