Form 433-A Collection Information Statement for Wage Earners and Self-Employed Individuals February 2019 Department of the Treasury Internal Revenue Service Wage Earners Complete Sections 1 2 3 4 and 5 including the signature line on page 4. Section 6 Business Information Is the business a sole proprietorship filing Schedule C Yes Continue with Sections 6 and 7. No Complete Form 433-B. All other business entities including limited liability companies partnerships or corporations must complete...Form 433-B. Taxpayer s Signature Spouse s signature Date After we review the completed Form 433-A you may be asked to provide verification for the assets encumbrances income and expenses reported. Documentation may include previously filed income tax returns pay statements self-employment records bank and investment statements loan statements bills or statements for recurring expenses etc. IRS USE ONLY Notes Sections 6 and 7 must be completed only if you are SELF-EMPLOYED. S for 6 months or...longer If yes answer the following Dates lived abroad from mmddyyyy To mmddyyyy 9a Are you the beneficiary of a trust estate or life insurance policy If yes answer the following Place where recorded EIN Anticipated amount to be received When will the amount be received Name of the trust estate or policy 9b Are you a trustee fiduciary or contributor of a trust Do you have a safe deposit box business or personal If yes answer the following Value Location Name address and box number s Contents...Value at Time of Transfer Date Transferred mmddyyyy List Asset s To Whom or Where was it Transferred Catalog Number 20312N www.irs.gov Form 433-A Rev. 2-2019 Page CASH ON HAND Include cash that is not in a bank Total Cash on Hand PERSONAL BANK ACCOUNTS Include all checking online and mobile e.g. PayPal accounts money market accounts savings accounts and stored value cards e.g. payroll cards government benefit cards etc.. No Complete Form 433-B. All other business entities including limited...liability companies partnerships or corporations must complete Form 433-B. Business Name Address if different than 1b Business Website web address Total Number of Employees Frequency of Tax Deposits Does the business engage in e-Commerce Internet sales If yes complete lines 61a and 61b Type of Business Federal Contractor Average Gross Monthly Payroll PAYMENT PROCESSOR e.g. PayPal Authorize. Answer all questions or write N/A if the question is not applicable. Self-Employed Individuals Complete...Sections 1 3 4 5 6 and 7 and the signature line on page 4. Answer all questions or write N/A if the question is not applicable. For Additional Information refer to Publication 1854 How To Prepare a Collection Information Statement. Include attachments if additional space is needed to respond completely to any question* SSN or ITIN on IRS Account Name on Internal Revenue Service IRS Account Employer Identification Number EIN Section 1 Personal Information 1a Full Name of Taxpayer and Spouse if...applicable 1b Address Street City State ZIP code County of Residence 1c Home Phone 1e Business Phone 1d Cell Phone 1f Business Cell Phone 2b Name Age and Relationship of dependent s 2a Marital Status Married Unmarried Single Divorced Widowed SSN or ITIN Date of Birth mmddyyyy Driver s License Number and State 3a Taxpayer 3b Spouse Section 2 Employment Information for Wage Earners If you or your spouse have self-employment income instead of or in addition to wage income complete Business...Information in Sections 6 and 7.
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Instructions and Help about IRS 433-A
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How to fill out IRS 433-A
To fill out IRS 433-A, follow these steps:
01
Obtain the form from the IRS website or trusted sources.
02
Review the instructions provided with the form thoroughly.
03
Gather necessary financial documents such as income statements and expenses.
04
Complete the form by entering the required information in each section accurately.
05
Double-check your entries to avoid errors before submission.
About IRS 433-A 2019 previous version
What is IRS 433-A?
IRS 433-A is a tax form used by individuals to provide the IRS with detailed information about their financial situation. This form is often needed when taxpayers seek to negotiate payment plans or requests for relief regarding tax liabilities. Understanding how to correctly fill out IRS 433-A is essential for compliance with IRS regulations.
Who needs the form?
Taxpayers who owe federal tax liabilities and are looking to negotiate payment terms or request financial relief measures need IRS 433-A. This form is particularly pertinent for individuals in situations where unpaid taxes have accumulated and are under consideration for collection actions by the IRS.
Components of the form
IRS 433-A includes several key components, including detailed sections about the taxpayer’s assets, liabilities, income, and expenses. Each section is designed to provide the IRS with a holistic view of the individual's financial situation, allowing for accurate assessments of payment capability.
How many copies of the form should I complete?
Generally, taxpayers need to complete one copy of IRS 433-A for submission to the IRS. However, it is advisable to keep a personal copy for record-keeping purposes and to reference details if needed in future communications or evaluations by the IRS.
What are the penalties for not issuing the form?
Failing to submit IRS 433-A when required can result in penalties including denial of request for payment arrangements or an offer in compromise. Additionally, it may lead to continued collection activities by the IRS, such as garnishment or liens against assets.
Is the form accompanied by other forms?
IRS 433-A is often submitted alongside other forms related to payment requests, such as Form 9465 for installment agreements or Form 656 for offers in compromise. This combination helps streamline the IRS’s review process and provide all necessary context for the taxpayer’s financial situation.
What is the purpose of this form?
The primary purpose of IRS 433-A is to gather comprehensive financial data to assist the IRS in evaluating a taxpayer's ability to pay their tax debts. The information collected helps determine if the taxpayer qualifies for an installment agreement or offers in compromise, allowing favorable resolutions to outstanding balances.
When am I exempt from filling out this form?
Taxpayers may be exempt from filling out IRS 433-A if they do not owe any taxes or if their tax situation is straightforward enough not to require further financial detail. Additionally, individuals who qualify for certain streamlined installment agreements may not need to provide this form.
Due date
There are no specific due dates for submitting IRS 433-A since it typically accompanies other forms related to tax relief or payment arrangements. However, it is vital to submit it promptly along with the related requests to avoid complications with the IRS.
What payments and purchases are reported?
IRS 433-A requires the reporting of various income sources, such as wages, self-employment earnings, and other payments. Additionally, taxpayers must disclose major purchases, assets, and any liabilities related to their financial obligations. Accurate reporting is essential to ensure the IRS has a complete picture of financial standing.
What information do you need when you file the form?
When filing IRS 433-A, it is essential to gather comprehensive financial information, including:
01
Details of monthly income and sources.
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Records of unpaid liabilities and debts.
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An itemized list of assets such as bank accounts, properties, and vehicles.
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Documentation of monthly living expenses.
Accurate and thorough documentation is critical for successful filing and processing by the IRS.
Where do I send the form?
IRS 433-A should be sent to the address specified in the instructions that accompany the form. Often, this will vary based on the taxpayer's location and the specifics of their filing situation. Ensure to verify the appropriate submission address to avoid delays in processing your request.
FAQ about IRS 433-A
What should I do if I notice an error after submitting my IRS 433-A?
If you find an error after filing your IRS 433-A, you can submit an amended form to correct it. Ensure that the amendment clearly states the changes, and include a brief explanation of the reason for the correction. It's essential to keep a copy of both the original and amended submissions for your records.
How can I verify if my IRS 433-A has been received and processed?
To check the status of your filed IRS 433-A, you can contact the IRS directly or use online tools provided on their website. Keep in mind that processing times may vary, so allow a reasonable period before making inquiries. Ensure you have your personal information handy to expedite the tracking process.
What should I do if my IRS 433-A submission is rejected when e-filing?
If your IRS 433-A is rejected during e-filing, review the rejection code provided by the IRS to identify the specific issue. Common reasons for rejection include incorrect personal information or format issues. Make the necessary corrections and resubmit the form promptly to avoid delays in processing.
Are there any privacy concerns I should be aware of when filing IRS 433-A?
When filing IRS 433-A, ensure that your personal and financial information is securely submitted. Use encrypted communication channels if filing electronically, and confirm that the software or service you use complies with data security standards to protect your information from unauthorized access.
What should I prepare if I receive a notice from the IRS regarding my IRS 433-A?
If you receive a notice or letter from the IRS about your IRS 433-A, carefully review the document to understand the request or issue. Prepare any requested documentation and respond promptly, keeping copies for your records. If you are unsure about how to respond, consider seeking professional assistance to ensure compliance.
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