The purpose of this form is to
identify seizable assets and income with which to pay your taxes or to help
determine your ability to pay for an Offer in Compromise. This form is generally
required in order to enter into an installment agreement or to have your account
declared currently not collectible. In many cases, the actual form may not need
to be completed but the information on it will be taken in an interview format
over the phone if you are dealing with Taxpayer Service or Automated Collections
(ACS), or in person if you are dealing with a Revenue Officer. In some cases you
may be asked to submit Form 433-F instead. This is an abbreviated form of the
433-A. However, a formal Form 433-A is required if you are submitting an Offer
In Compromise because of doubt as to collectibility. If you are self-employed,
you will also be required to complete Form 433-B. This is the "Collection
Information Statement For Business".
The 433-A is six pages long. The current revision is May 2001. This form just
recently went through several changes - adding two new pages. This was
necessitated by new regulations prescribing a combination of "national
standard expenses" and local or regional guidelines for certain expenses.
This replaced to some extent the variations in allowable expenses caused by the
experience and background of the IRS Revenue Officers or tax analysts
reviewing the form. Click below to see charts showing the National Standards for
food and miscellaneous expenses as well as the regional standards for allowable
transportation expenses.
Page six is the most important because it provides the information used to
determine how much you can pay to the IRS on a monthly basis. How it is
completed is critical. Under no circumstances should you provide this
information over the phone or in an interview without being very familiar with
its contents. We recommend that you let an experienced professional prepare this
form or supply this information for you. Contact us today for help.