The IRS always sends several payment notices before a Letter 1058 goes out, so by the time you receive it, the government is prepared to take action. If you don’t respond within 30 days from the date of the letter, the IRS can levy your assets, such as salary and other income, bank accounts, personal and business property, state tax refunds, and even Social Security benefits. If you owe more than $50,000 (including fees and penalties), your passport could be revoked.