You have a tax debt and 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) — an NFTL puts your creditors on notice that the IRS has a claim to all your property and rights to property and secures the priority of the IRS’s claim, 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 includes your right to request a Collection Due Process (CDP) hearing. 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 notice, but you can’t petition the U.S. Tax Court if you disagree with Appeals’ decision. For more information on your appeal options, click here. Also, see Publication 1660, Collection Appeal Rights, for a full explanation of the CDP process.