IRS Patrol:IRS Updates the Allowable Living Expense Standards for 2010
The Internal Revenue Service has released the 2010 update to the Allowable Living Expense Standards on March 1. The ALE standards are used to reduce subjectivity in determining what a taxpayer may claim as basic living expenses necessary 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 basic necessities for citizens in similar geographic areas.
More information on the ALE standards is available at the Collection Financial Standards Web page.
IRS Patrol:Extension of Time to Submit Comments on Announcement 2010-9 Regarding Reporting Uncertain Tax Positions, Draft Schedule, and Implementation Date
Announcement 2010-17 extends the comment period for Announcement 2010-9 until June 1 to allow taxpayers and practitioners sufficient time to study the proposal and analyze its impact. The Announcement also clarifies the implementation date for the schedule proposed by Announcement 2010-9 and requests further comment.
Announcement 2010-17 will be in IRB 2010-13, dated March 29, 2010.
