- This topic has 1 reply, 2 voices, and was last updated 1 year, 1 month ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
-
Posts
-
I understand that Net Equity in Assets in part of the RCP Calculation that is used for OIC.
However, is Net Equity in Assets also used for Installment Agreements and CNC? The materials that we have on TRN do not seem to be clear on this point.
Thank you!
It is, more or less. With an installment agreement or CNC the IRS does NOT expect a person to tap the equity in their vehicle (that is necessary to get around), but they will want a taxpayer to try and tap the equity in their home (beyond the 20% margin for quicksale value) and the retirement accounts. So yes, but vehicles tend to be exempt.
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.
