Form 433-B

Form 433-B

A form one files with the IRS when a business makes an offer in compromise. The form provides financial information to the IRS to help determine how much to withhold each month in paying the business's back taxes.
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Corporate or other business taxpayers must submit Form 433-B, Collection Information Statement for Businesses, with any required attachments or other documentations.
The taxpayer must submit an offer on form 656 and provide financial information on form 433-A (individuals) or form 433-B (businesses) if the compromise basis is collectibility.
The IRS does not recommend attaching a Form 433-A, Individual Collection Statement, or Form 433-B, Business Collection Statement, to a tax return.
A second document, Form 433-A, Collection Information Statement for Individuals, or Form 433B, Collection Information Statement for Businesses, and/or any other financial statement prepared by the taxpayer as long as it contains the information requested on Form 433-A or Form 433-B and is signed under penalty of perjury, must be completed and submitted concurrent with the offer.
Form 433-A, Collection Information Statement for Individuals, and Form 433-B, Collection Information Statement for Businesses, which are shorter and easier to complete, replace the extensive Form 433.