Does your family have a vehicle? Two? Three?
If you are negotiating a back tax debt with the IRS, you may be subject to the Collection Financial Standards. If you have three vehicles in your family, the IRS may only allow the expenses associated with two of them when determining your collection potential.
In addition, they may not allow your whole monthly car payment or your monthly vehicle operating expenses. The Service has ceilings on these expenses for collection purposes.
They also apply monthly expense limits on:
- Food, Clothing and Other Items,
- Out-of-Pocket Health Care Expenses, and
- Housing and Utilities.
Fresh Start Tax Relief can help you determine whether or not the IRS Collection Financial Standards apply to your collection case. Call 866-937-5079 to speak with a Fresh Start Tax Expert today!
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