National Standards —
Applied nationwide, these are the standard allowances determined by the IRS for food, clothing and other Items. The only state exceptions to the IRS National Standards are Alaska and Hawaii. You are allowed the total National Standards amount for your family size and income level, free from having the actual amounts spent questioned.
Necessary Expenses —
Under the IRS National Standards, the allowable payments you make to support you and your family’s health and welfare. In addition, the amount you need to continue or ensure the viable production of income.
Net Available Income —
This is the amount that remains after your reasonable and basic expenses are subtracted from your gross income.
Notice of Deficiency —
An IRS notice that informs you that you owe the IRS the amount listed which is your correct tax liability minus the amount of taxes you have already paid during the course of the year. Once the notice is filed, you have 90 days (150 days if you are living outside the United States) to either agree to liability or amount or file a petition with the United States Tax Court contesting the amount.
Notice of Federal Tax Lien —
Whether you do or do not own any property, the IRS will issue a lien against your Social Security Number to hinder you from purchasing, selling or transferring any property. When a lien is filed, you receive a Notice of a Federal Tax Lien.
