Form 433-A

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Form 433-A

A form one files with the IRS when an individual 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 individual's back taxes.
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Brooks said that not enough emphasis is placed in the preparation of Form 433A or B, which serves as the starting point for the IRS to evaluate what the client can pay.
The determination of a reasonable amount for basic living expenses will be made by the director," considering "information from the taxpayer." Therefore, a taxpayer should provide the Service with documentation supporting income and expense amounts on Form 433A, Collection Information Statement for Individuals, or Form 433B, Collection Information Statement for Business, to prove that there are no available funds to pay to the Service.
* Complete financial statements: A completed collection information statement, Form 433A, 433B or any other financial statement, as long as it conforms with information required, must be included.