Rappaport Tax Relief Blog: Expert Tips on IRS Issues
An IRS Offer in Compromise (OIC) is a legitimate federal program that lets qualifying taxpayers settle their tax debt for less than the full amount owed. But acceptance depends entirely on a specific financial formula the Internal Revenue Service (IRS) controls, not on how much you need the relief. Understanding that distinction before you apply is the difference between…
The IRS holds levied bank funds for 21 days before transferring them to the government. That window is your only real opportunity to act. A bank levy release requires meeting one of four specific conditions: documented economic hardship, an accepted resolution agreement, a procedural challenge, or full payment of the debt. Without one of those four, the money moves. Key…
The weight of an IRS notice doesn't lift when you put it back in the envelope. It just sits there, accumulating interest, penalties, and the kind of dread that makes ordinary mornings harder than they need to be. An enrolled agent is a federally licensed tax professional who is authorized by the U.S. Treasury to represent taxpayers before the IRS in audits, collections,…
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