Form 433-F

Form 433-F

A form one files with the IRS in which one documents income and expenses each month. One files this form as part of working out an installment plan with the IRS in order to pay back taxes.
References in periodicals archive ?
Form 433-F, Collection Information Statement, must be completed when an individual taxpayer, including a self-employed one, owes more than $50,000 or when he or she does not agree to make payments by direct debit or payroll deduction.
Business taxpayers that owe more than $25,000 will likely need to complete Form 433-B, Collection Information Statement for Businesses, instead of Form 433-F.
IRM exhibit 5.8.9-1 provides a sample letter that a taxpayer may submit to the IRS to detail the reasons that an OIC should be compromised, along with a completed Form 433-A or Form 433-F financial statement and supporting documentation.
Guaranteed installment agreement A guaranteed installment agreement is available to taxpayers with a tax balance of $10,000 or less (excluding penalties and interest), without requiring the taxpayer to provide Form 433-A or Form 433-F. The IRS will not file a federal tax hen, as long as the liability is paid in full within 36 months by direct debit from a bank account.
For those owing more than $25,000, Form 9465 and Form 433-F are required.