The IRS sent me Letter 1058 threatening to levy my physical property, does setting up a standard installment agreement stop the collection process immediately?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

An IRS Letter 1058 can signal that enforced collection is being considered, but the effect of a standard installment agreement often depends on the status of the account, whether the agreement is accepted, and whether any levy action has already started. The timing of the notice, the type of tax bal For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.