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Title:
Description:
The IRS sets up repayment plans for people who fall behind on their taxes. As part of these plans, the tax agency calculates how much a person needs to live, based on their circumstances. From there, the IRS typically comes up with installment payments that will result in Uncle Sam being paid within certain time limits. How much income are delinquent taxpayers allowed to keep? The IRS recently issued new allowances, effective October 1, 2007. Could you live on these amounts?
History/Notes: