When is federal tax debt uncollectible?

Answer Many people are burdened with federal taxes, some of which they cannot pay. For some suffering at an extreme level, tax debts can be classified as uncollectible, or an "undue hardship" case.AssetsI... Read More »

Top Q&A For: When is federal tax debt uncollectible

What is federal debt?

Federal debt is money borrowed by the federal government from various sources. The federal government issues Treasury bills and bonds to debt-holders, in exchange for their money.DefinitionThe Whit... Read More »

The Best Way to Get Out of Debt When Income Is Less Than Debt?

You can accumulate debt quickly and easily, which often results in a host of financial worries. Some people feel they can never get out of debt because the amount of money they owe is greater than ... Read More »

Pros & Cons of Federal Debt Management Services?

While America is home to many debt management companies, federally administered debt management services don't exist. There is a company based in Florida named Federal Debt Management Services that... Read More »

How much of our federal income tax goes to pay national debt?

About ten cents of every tax dollar is spent on servicing the national debt. As of May 2010, the government has spent $224 billion on interest payments for the national debt.References:Federal Budg... Read More »