If you have a tax debt, the IRS can issue a levy, which is a legal seizure of your property or assets. It is different from a Notice of Federal Tax Lien (NFTL) — while an NFTL makes a claim to your assets as security for a tax debt and puts your creditors on notice that the IRS has a claim to all your property and rights to property, the levy takes your property (such as funds from a bank account, Social Security benefits, wages, your car, or your home). For specifics, see Levies.
This notice is your right to request a Collection Due Process (CDP) hearing prior to the IRS taking your property. You’ll have until the date shown on the notice to request a CDP hearing with the IRS Independent Office of Appeals (Appeals). If your request for a CDP hearing isn’t timely, you can request an Equivalent Hearing within one year from the date of the CDP notice, but you can’t petiton the U. S. Tax Court if you disagree with Appeals’ decision. For more information on our appeal optons, click here. See Publication 1660, Collection Appeal Rights, for a full explanation of the CDP process.