🚨 Got IRS Letter 11? Here’s What It Means and Why You Shouldn’t Ignore It

🚨 Got IRS Letter 11? Here’s What It Means and Why You Shouldn’t Ignore It

If the IRS sent you Letter 11, LT11, you’re officially on the clock. Ignoring it could cost you your paycheck, bank account, or even your peace of mind.

What is IRS Letter 11?

This letter is a final warning before the IRS takes collection actions like levying your bank account or garnishing your wages. It lets you know the IRS intends to seize your property or rights to property.

What Happens If You Ignore It?

Failure to respond will result in levy action from the IRS. They can claim right to your wages or bank accounts up to the amount owed in back taxes. The IRS may also file a Notice of Federal Tax Lien, which is a public notice to your creditors that the government has a right to your interests in your current assets and any assets you acquire in the future. Ignoring this notice can affect your ability to obtain a new passport or renew your current passport as well as your credit.

What You Should Do Immediately?

First things first, DO NOT PANIC! There are options when you receive IRS LT11. You can simply pay the debt in full and this will stop the IRS from further collections. That may not be as simple for everyone and for those, there are payment plan options as well. If you feel you do not owe the this debt, you have the right to a Collection Due Process (CDP) hearing.

If you or someone you know received an IRS Letter 11 or owes money to the IRS, get scheduled for a consultation and let us help you!

Lloydetta Bryant, EA, MBA is your Revenue Reset Partner and Tax Expert who will work diligently to find the right solution for your specific tax situation. As an Enrolled Agent licensed through the IRS, Lloydetta can step in on your behalf to advocate for you. As a content creator on YouTube, you’ll find that focus on helping black women-led businesses with Solutions Beyond Taxes. Although we are a virtual firm, Ethical Tax and Business Services is located in the Savannah/Richmond Hill areas, and can serve taxpayers in all 50 states by providing tax services from compliance to representation and the expertise needed to get the job done. Visit our website at www.ethicaltaxandbusinessservices.com

#TaxHelp #IRSRepresentation #BackTaxes #BlackWomenInBusiness #Enrolled Agent #TaxRelief #IRS Penalties #WellnessEntrepreneur #EthicalTax #TaxDebtHelp #LicensedTaxPro

Comments

💡 Common Tax Write-Offs for Health & Wellness Entrepreneurs

Ethical Tax and Business Services | #SolutionsBeyondTax Are you leaving money on the table? If you’re a health coach, yoga instructor, therapist, esthetician, doula, or wellness entrepreneur, you likely spend money every month on tools, services, and education that support your business. But here’s the question: Are you deducting those expenses at tax time? Below is a checklist of common (and often overlooked) tax write-offs for women-led health and wellness businesses. These deductions could help reduce your taxable income and give you a clearer financial picture of where your money is going. 🧾 Business Operations Home office expenses (portion of rent, utilities, internet, etc.) Office supplies (printer ink, paper, pens) Business insurance Software subscriptions (Acuity, QuickBooks, Canva, Zoom) Business cell phone usage 🧘‍♀️ Health & Wellness-Specific Expenses Continuing education & certifications (CPR, yoga training, etc.) Professiona...

3 Things You NEED to do...

3 Things You Can Do... To make your Accountant happy at tax time ☺ Want to be your accountant’s favorite client? (Well, even more than you are now, of course) The key is to take a bit of time now to start preparing for your tax return appointment, so your accountant has everything they need, when they need it, to complete your return. Of course, as a favorite client, you already know that the days of dropping off a shoebox of receipts and tax documents at the front desk…waiting for a call to let you know you forgot such-and-such documents…stopping by to drop off the missing info…waiting for the call that your return is done…then stopping in to pick up the finished return, is in the past. (Thank goodness, right?) Today’s financial world has evolved to a near-breathtaking level of efficiency and digital delivery. So much, in fact, that you don’t even have to drop the information off in person anymore. And that is exactly what some firms prefer.😁 ...

👂Owe the IRS $30K or More? Here’s What the IRS Won’t Tell You - But I Will

If you're a successful business owner in the health and wellness space and you owe the IRS $30,000 or more, it can feel like you’re drowning in silence. You’re managing your brand, your team, your clients... all while pretending this massive tax problem doesn’t exist. But here’s the truth: the IRS isn’t going to tell you your options. They’ll send letters, stack penalties, and let the pressure build. But they won’t tell you what I’m about to. As a tax representation specialist and Enrolled Agent, I’m here to help clients settle tax debts, and for some, for far less than what they owe. I want you to know that this is not the end of your business. In fact, this could be the beginning of finally taking control of your finances. Here’s what the IRS won’t tell you: You may not have to pay the full amount. Programs like the Offer in Compromise or Partial Pay Installment Agreement exist to help taxpayers who genuinely cannot pay their full debt. You h...

Let's talk TAX

Search This Blog