Will Filing a Form 433-F Help You?

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An IRS Form 433-F is a short form filing instrument for a Collection Information Statement.  Form 433-F used to be only for instances where small dollar amounts were involved, but today it receives more wide-spread usage. The IRS Automated Collection System (ACS) has begun using Form 433-F in circumstances where more than $100,000 is owed. If you think filing Form 433-F will help you with your IRS problems, you should contact our office for IRS help.

A Collection Information Statement is used to determine your ability to pay your back taxes. If you owe taxes to the IRS and you cannot find the resources to pay them all at the time they are due, you should pay as much as you possibly can. Doing so will reduce the amount of interest and penalties you will incur  You will need IRS help to explain your situation to the appropriate authorities and find the best resolution for you.  Form 433-F is a form that will allow the IRS to compare your monthly earnings versus your monthly expenditures to establish a monthly payment that will work in your situation. Form 433-F will help document your finances and prove to the IRS why you may not be able to pay all the taxes you owe immediately.

One option to resolve payment of your taxes could include a monthly installment agreement (IA). Typically, the IRS will want to directly debit the amount from your checking account or ask your employer to deduct the amount from your salary  If your situation has put you in dire financial straights, you may even qualify for a temporary halt to your payments until you can get back on a solid footing.

The IRS will appear to work with you to find a payment structure you can meet, but you will need IRS help for this IRS problem. This is because they are not on your side when it comes to filling out the form correctly. Their job is to demonstrate that you have the highest possible ability to pay. Our job is quite the opposite. We help you to demonstrate that you have the lowest ability to pay.  We can help you if you contact one of our friendly professionals.

It might be important to note that Form 433-F cannot be used in conjunction with an Offer in Compromise.  An Offer in Compromise is a contract between the IRS and a taxpayer that resolves the tax liability in question.  The IRS has the ability to negotiate for a tax payment settlement under certain conditions.

You will need IRS help completing a Form 433-F and our staff will be pleased to assist you.  You need to make sure all information is accurately completed on this form when you sign it, because you could be prosecuted if the IRS discovers you have not been truthful when filling out this document.

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Comments on Will Filing a Form 433-F Help You?

February 16, 2008

Gerald Daniel @ 3:59 pm #

The social security has a tax levy on my social security. I need to stop this because it is creating a hardship for me and my family. I owe approximately $25,000.00. I have not filed in over 15 to 18 years. It was approximately $80,000.00 at one time but the 10 year period erased a lot but once I turned 65 this month they hit my first social security check for a little over $200.00 a month.

Gerald Daniel

October 23, 2008

Julie @ 1:22 pm #

I owe the IRS almost $17,000 and they want me to file for a form 433f since I do not have a job. What are my chances to do that?

January 6, 2009

Martin Duffy @ 9:13 am #

I am in contact with the IRS about a debt of 46,000
I have filled out 433-f it is signed by me but my wife refuses to sign it because we file seperatly and she is current with her taxes. Will this affect any payment agreements the IRS may agree to.

Thank You
Martin Duffy

April 12, 2009

Leslie @ 4:44 pm #

My husband owes $50,000 in back taxes and his accountant had him prepare a form 433-F with my financial information, despite the fact that he incurred this debt before we were married and became a household. The IRS has responded with a monthly installment payment greater than his net monthly income. They are clearly going after my income as well. Our annual salaries are almost exactly the same (he slightly more) and we share our household expenses down the middle.

Can I prevent the IRS from going after my money? This isn't fair to me.

September 22, 2009
February 23, 2010

Nikki @ 1:52 pm #

If I file a 433 form and have a savings in the bank, will the IRS take the savings? Does the filing of the 433 give the IRS open season into my assets?