IRS Collection Financial Standards Updated

On March 28, 2016 the Internal Revenue Service has published updated national, regional and local standards for use in calculating repayment of delinquent taxes.

Effective March 28, 2016 national standards for Food, Clothing and Other Items, Out-of-pocket Health Care costs, local standards for Housing and Utilities, and national and regional standards for Transportation expenses have been updated. These standards are effective for purposes of federal tax administration only.

PitBullTax Software has updated national, regional and local standards for every single county in the United States and US Territories.

Spoiler Alert: the IRS standards have been REDUCED in all categories!

If you have recently prepared Collection Information Statements (Form 433-A, 433-A (OIC) or 433-F) or have used Resolution Evaluation tool, you may want to revisit those forms/tool to see how your calculations were affected.

In case you still see the old standards on your PC, please press Ctrl and F5 buttons simultaneously on your keyboard. This will clear up cached memory and bring forward the update. You may also follow the steps for clearing your cached memory described in this link for different browsers.

If you have any questions in regards to the IRS standards update, please feel free to contact our customer service representatives at 877-474-8285.

Posted by PitBullTax Administrator at 04/04/2016 01:39:55 PM