Form 433: Collection Information Statements for Taxes Owed
Owing taxes to the IRS is not an ideal situation by any means, but sometimes it happens. Whether it was due to a change in your tax situation that you didn’t account for, or to required quarterly estimated payments that you forgot about, it’s important to square away your tax liability with the IRS. You can begin this process with a version of Form 433.
Form 433-A serves as an account of your financial situation (assets, income, expenses, etc) to an IRS Revenue Officer. It is a fairly long form, and you must be very careful when detailing your monthly expenses and expected income, as the IRS will use it to determine how much you must pay each month as part of an installment plan.
Form 433-B operates in a similar manner to that of the 433-A, but it is for businesses only. Businesses that need an installment plan to pay back taxes must fill out 433-B and attach all relevant financial documents, such as bank statements and bills.
Form 433-F is a shorter version of IRS Form 433-A, and it serves the same purpose of reporting your financial situation to the IRS.
Because all versions of Form 433 deal with serious issues like overdue taxes and IRS collection, it is very important that you make sure the information on your Form 433 is correct and covers every facet of your financial life. If you are unsure of any part of this form, be sure to consult a tax professional before submitting it to the IRS!
In the meantime, you can get started filling out an IRS Form 433-A, Form 433-B, or Form 433-F with PDFfiller’s online editor. PDFfiller makes the entire process of staying on top of your taxes easier and faster than ever before!