What is a low-income taxpayer?
For offer purposes, and as redefined with the release of Form 656 (Revision February 2007), a low income taxpayer is an individual whose income is 250 percent of the 2006 HHS Poverty Guidelines. These new standards are incorporated into the IRS OIC Monthly Low Income Guidelines that went into effect with the release of Form 656 (Revision February 2007).
Related Questions
- What will happen if the taxpayer submits a Form 656-A claiming to qualify as low-income and the IRS later determines that the taxpayer did not qualify?
- What will a taxpayer need to submit in order to claim to qualify as a low-income taxpayer who is not be required to pay the payments imposed by TIPRA?
- What is a low-income taxpayer?
