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IRS Collection Financial Standards


DoIOweYouII
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In doing some bankruptcy research on the web, I came across the IRS Collection Financial Standards that are used to help determine a taxpayer's ability to pay a delinquent tax liability. Is it an acceptable practice to use this in helping evaluate what is reasonable living expenses where food, clothing, household items, etc. are concerned when filing bankruptcy?

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You CAN, but why would you WANT to ? The IRS Collection Standards are meant to punish people who duck out on paying their taxes. They are extremely bare-bones expenses and, IMO, are quite ridiculous. Unfortunately, those IRS tables are what the new BK bill will use, putting lots of people into financial straight jackets for 5 long years.

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Bingo, you must have ESPN if you know you don't want to eat at my house. LOL. Actually, there are extenuating circumstances why my food bills are lower than most. I've had gastric bypass surgery, so I eat way less than most people. My wife has been doing the low-carb/portion control thing. Together,we've lost over 259 pounds between us in just a little over a year. This has become a permanent way of life for us. Then again, I don't guess the trustee or judge has to know that. Our kids consume most of our food bill.

Thanks for the input.

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