IRS Issues Redesigned Allowable Living Expense Standards

IRS Issues Redesigned Allowable Living Expense Standards: "WASHINGTON - The Internal Revenue Service today issued the 2007 allowable living expense standards. Allowable living expense standards, also known as collection financial standards, are used to determine the ability of a taxpayer to pay a delinquent tax liability. For purposes of federal tax administration the standards are effective Oct. 1, 2007."