Allowable Living Expense Standards Update

The Internal Revenue Service has released the 2009 update to the Allowable Living Expense Standards. These standards are used to what a taxpayer may claims as necessary expenses to avoid undue hardship when the taxpayer must delay full payment of a delinquent tax. The standard allowances provide consistency and fairness in collection determinations by incorporating average expenditures for citizens in similar geographic areas.

More information on the ALE standards is available at the Collection Financial Standards Web page.

The Homeowner Affordability and Stability Plan

The Homeowner Affordability and Stability Plan is part of the President's broad, comprehensive strategy to get the economy back on track. The plan will help up to 7 to 9 million families restructure or refinance their mortgages to avoid foreclosure. Read the Executive Summary for a quick review.

Also: Homeowner Affordability and Stability Plan Fact Sheet, Consumer Q&A.