The Internal Revenue Service said it is giving a break to some people who owe back taxes given the economic turmoil. Among the promised changes: Suspension of collection actions if you’ve lost a job, rely solely on Social Security or welfare income, suffer a “devastating illness” or have huge medical bills; more flexibility if you can’t keep up with your installment payments on back taxes because you lost your job or had some other hardship; and a second review of home values when you offer the IRS a settlement for tax debt for less than you owe.
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