Has the IRS recently requested that you file financial information… using Form 433-F, 433-A, or 433-B?  If you have unpaid tax debt, these forms will determine how the IRS will require that you pay it back.

What are the Forms 433-F, A, and B?

These 433 Forms are used by the IRS to collect financial information from businesses and individuals with unpaid tax debt.  The information requested on these forms is very detailed.  Once the forms are submitted to the IRS, the information provided is used to determine how the debt will be collected.

The Form 433-F Collection Information Statement is a more streamlined version that has been commonly used in recent years.  The 433-A and 433-B Collection Information Statements are up to six pages long and much more detailed.  These documents will ask for financial information including assets (real estate, cars, boats, etc.), bank accounts, credit cards, employment information, and monthly living expenses.  You may also be asked to include additional forms and a copy of your tax returns with these 433 Forms.

Why You May Need to File a 433-F, A, or B

Many people owe the IRS a large sum of money and are unable to pay the debt in full.  These forms are often required for individuals owing delinquent tax debts.    The IRS will ask you to complete one of these forms.  Completing the 433-F, A, or B is the first step in determining how the tax debt will be paid.  The information you provide will allow the IRS to position the Federal Government to collect the delinquent tax debts.

Get Professional Help with Your 433-F

The process of negotiating with the IRS to secure a reasonable payment plan can be stressful.  Completing the 433 forms to show the most accurate picture of your financial situation may be challenging as well.  While it isn’t required that you seek professional help, the benefits are significant.  The IRS will evaluate your financial information and work to design plans for the tax to be paid as soon as possible.  Remember… The IRS is an Unwilling Lender, they do not want to finance your tax debt.

Please contact David Yarborough or Gerald Yarborough to see what options are best to address your delinquent tax liabilities.  Contact Us by Requesting a Consultation or calling 1-800-270-8616 . We are a family owned company and both of us, as owners, are former IRS employees (that means we have first-hand knowledge about how the IRS and State DOR operates and we use this knowledge to our clients’ advantage). Our company has been helping people just like you for over 40 years.  You get Straight Talk when you speak with us, no empty promises that sound too good to be true.