This past week, the Isaac Brock Society published another interesting thread which basically asked if Obama deserves to be re-elected in light of FATCA, OVDI, and FBAR's. Here are some slightly edited comments Imposted: (You can see the origional post here) The title...
Taking A Cooperative Approach To Your Legal Issues
Month: June 2012
IRS Collection Financial Standards: Allowable Expenses
What expenses will the IRS allow when determining ability to pay delinquent tax debts? The IRS has established expense standards for several categories of expenses. In order to claim an expense, taxpayers must show the expense meets the “necessary expense test.” The necessary expense test is defined as expenses that are necessary to provide for a taxpayer’s (and his or…