IRS Form 433: Whats the Difference between A, B and F?

18 October 2015
625 Views
Comments are off for this post

It is not uncommon for clients to come to us under stress with an IRS Form 433 in hand. Taxpayers who want to set up an installment agreement with the IRS, apply for an offer in compromise or be declared currently not collectible (CNC) are commonly required to prepare and submit a Collection Information Statement, otherwise known as a Form 433. But, just which version of that form should they be filling out, if any at all? If they owe less  than $50,000 and qualify for a streamlined installment agreement, they may not need to fill one out at all. In other cases, it all depends on who they are working with at the IRS.

Local IRS Offices and Revenue Officers

In general, IRS Form 433-A is used by local IRS offices and is frequently requested by Revenue Officers in collection cases. Form 433-A is a very lengthy form that requires the taxpayer to provide information regarding their assets, income and expenses. If you are working with a Revenue Officer (RO), it is generally not a bad idea to consult a tax attorney or other tax professional. In our experience, IRS Revenue Officers can be a little harder on unrepresented taxpayers.

Automated Collection Services

In contrast, IRS Form 433-F is requested by Automated Collection Services (ACS); these are the folks you talk to when dialing the IRS 800 numbers. This form is a shorter, more streamlined version of the Form 433-A However, when working with ACS they will want you to complete the entire form while on the telephone with them and so having all your paperwork ready and being close to a fax will be essential.

Submitting and Offer-in-Compromise to the IRS?

In fact, there is another variation just for the IRS Offer-in-Compromise process, IRS Form 433-OIC. But, all of these variations fulfill a basic purpose: they are Collection Information Statements.

If you have further questions about IRS Form 433, you may contact the Tax attorneys at the Perliski Law Group at (214) 446-3934 for a free initial consultation.