What is a 433A tax form?

Form 433-A is used to obtain current financial information necessary for determining how a wage earner or self-employed individual can satisfy an outstanding tax liability.

What is the difference between IRS Form 433A and 433F?

IRS Form 433A- is a tax collection information statement for self-employed personnel and those that earn wages. IRS Form 433B- is a tax collection information statement for businesses. IRS Form 433F- is a generalized tax collection information statement.

Where do I mail Form 433-A?

1. Make sure to sign and date section four before sending your form to the IRS.
2. Mail the 433A form to the Memphis Internal Revenue Service, Center COIC Unit at PO Box 30804 AMC if you live in the western United States and you are not a wage earner, self-employed or a retiree.

What is Form 433 B used for?

Form 433-B is used to obtain current financial information necessary for determining how a business can satisfy an outstanding tax liability.

Do I have to fill out Form 433 F?

The IRS usually uses 433-F to determine eligibility for payment plans or Currently Non-Collectible status. If your case is assigned to the IRS Automated Collection Service, you’ll likely be required to fill out Form 433-F.

Who can apply the non collectible amount?

Currently not collectible is a status the IRS gives to those who can’t afford to make payments on their tax debt. To qualify, your tax payments must cause significant hardship. This status isn’t permanent. It will be reviewed periodically, and if your situation changes, you may be required to start payments.

How do I file a hardship with the IRS?

To prove tax hardship to the IRS, you will need to submit your financial information to the federal government. This is done using Form 433A/433F (for individuals or self-employed) or Form 433B (for qualifying corporations or partnerships).

Which Form 433 should I use?

IRS Form 433-A is used for both those who are self-employed and those who earn wages. If your IRS case is assigned to a Revenue Officer, they’ll likely require you complete Form 433-A.

What is a 433?

The Form 433 seriesprovides the IRS financial information about a taxpayer who needs an IRS abilityto pay collection alternative (ability to pay installment agreement, currentlynot collectible status, or an offer in compromise). The Form 433 series is also called the “CollectionInformation Statement” (CIS).

Where can I get Form 433-F?

To apply online, go to https://www.irs.gov, click on “I need to pay my taxes,” and select “Installment Agreement” under the heading “What if I can’t pay now?” If you are requesting an Installment Agreement, you should submit Form 9465, Installment Agreement Request, along with Form 433-F.

How do I qualify for IRS not collectible status?

To qualify for currently-not-collectible status, you’ll need to either contact the IRS directly or hire a tax professional to contact the agency on your behalf. You’ll need to provide information about your income and expenses, and you may need to provide documentation of these as well.

What qualifies as a financial hardship?

You are in financial hardship if you have difficulty paying your bills and repayments on your loans and debts when they are due. Under credit law you have rights when you are in financial hardship .

Do I have to fill out Form 433-F?

Where can I get Form 433 F?

How long does currently not collectible last?

two years
By placing an account in IRS currently non-collectible status, the IRS essentially halts all attempts at collection activity on an account until it feels that the taxpayer is ready to make payments again. IRS currently non-collectible status generally lasts anywhere from six months to over two years.

What are the two main reasons for financial hardship?

There are often two main reasons for financial hardship : 1. You could afford the loan when it was obtained but a change of circumstances has meant you can no longer afford the repayments; or 2. You could not afford to repay the loan when it was obtained.

How do I prove a hardship to the IRS?

What is the zero tax debt relief program?

The IRS debt forgiveness program is an initiative set up by the Internal Revenue Services to facilitate repayments and to offer tools and assistance to taxpayers that owe money to the IRS. Only certain people are entitled to tax debt forgiveness, and each person’s financial situation needs to be assessed.

How do you qualify for currently not collectible status?

To qualify for currently not collectible status, you must show to the IRS that your monthly income is insufficient to pay your necessary living expenses. The IRS may require you to disclose your financial information to substantiate your claim of financial hardship.