Client filed installment agreement on paper (tax owed is too high to file electronically), and I called practitioner line to hold the collection effort before the processing of the installment agreement, but the client still received the CP504 letter (Notice of Intent to Seize). I would like to know how far it is between CP504 and the real seizure or levy, and what else we could do.
The tax owed is due to the stock gain. The client put back the cash to the market, and he does not want to sell at this time. Since client has means to pay, I doubt if the IRS will approve the installment agreement. If the IRS denied the agreement, then she has to pay immediately?