IRS 433-A (OIC) 2021 free printable template

Form 433-A OIC Rev. January 2014 Department of the Treasury Internal Revenue Service Collection Information Statement for Wage Earners and Self-Employed Individuals Use this form if you are An individual who owes income tax on a Form 1040 U.S. Individual Income Tax Return partnership liability income. Employer s Address street city state zip code Your Employer s Name Do you have an interest in this business Your Occupation How long with this employer years months Spouse s Employer s Name...

How to fill out IRS 433-A OIC

How to fill out IRS 433-A (OIC)

1. Obtain Form 433-A (OIC) from the IRS website or your local IRS office.
2. Fill out your personal information in Section 1, including your name, social security number, and contact information.
3. In Section 2, provide details about your employment, including your employer's name, address, job title, and income.
4. Complete Section 3 with information about your spouse, if applicable.
5. In Section 4, detail your monthly income and expenses, ensuring all amounts reflect current financial status.
6. Fill out Section 5 with a list of your assets, including cash, bank accounts, real estate, vehicles, and other assets.
7. Complete Section 6 by providing information about your liabilities, including loans, credit cards, and other debts.
8. Review the completed form for accuracy and completeness.
9. Sign and date the form at the bottom.
10. Submit the form along with your Offer in Compromise application and any required documentation.

Who needs IRS 433-A (OIC)?

1. Any taxpayer who cannot pay their tax debt in full may need IRS Form 433-A (OIC), especially if they are seeking to settle their tax debt through an Offer in Compromise.
2. Individuals facing financial hardships, including unemployment, medical issues, or significant debts, may also be required to submit this form.
3. Self-employed individuals or those with complex financial situations typically use this form to report their financial status to the IRS.

• Who needs an IRS Form 433-A (OIC)?
• What is IRS 433-A (OIC) form for?
• Is IRS Form 433-A accompanied by other forms?
• • When is IRS Form 433-A due?
  • How do I fill out IRS Form 433-A?
  • Where do I send IRS Form 433-A?

Who needs an IRS Form 433-A (OIC)?

Collection Information Statement for Wage Earners and Self-Employed Individuals (Form 433-A) is required by the IRS to evaluate how a wage earner or self-employed individual can satisfy an outstanding tax liability.

The tax form 433-A is to be used by individuals who:

• owe income tax on a Form 1040, U.S. Individual Income Tax Return;
• have personal liability for Excise Tax;
• are responsible for a Trust Fund Recovery Penalty;
• are personally responsible for a partnership liability;
• are self-employed or have self-employment income.

What is IRS 433-A (OIC) form for?

This form provides personal and household information of the submitter including employment information for wage earners (if such), personal asset information, business asset information (for self-employed), and income and expense information for both wage earners and the self-employed.

All of this information will be used by the IRS to evaluate whether a tax debtor is subject to payment plan or temporary delay.

Is IRS Form 433-A accompanied by other forms?

Depending on your case, may require additional documents to be filed with 433-A form:

• Copies of a pay stub, earning statement, etc. from each employer;
• Copies of the most recent statement for each investment and retirement account;
• Copies of the most recent statements from all other source of income;
• Copies of the most recent statement from lender(s) on loans.

If your interests are represented by an attorney, you should attach Form 2848. Any of special circumstances on the case should be reported with Form 656.

When is IRS Form 433-A due?

The form must be supplied when it becomes necessary. Time for submission is not tied to any deadlines.

How do I fill out IRS Form 433-A?

You should provide information on topics listed below. Wage earners must fill out Sections 1, 2, 3, 7, 8, 9 and signature line in Section 10.

Self-employed individuals should complete Sections 4,5,6, in addition to Sections 1,2 (if applicable), 3, 7, 8, 9 and the signature line in Section 10.

Where do I send IRS Form 433-A?

Completed and signed, this form should be directed to the IRS office serving your business.

Instructions and Help about IRS 433-A OIC

Hey guys my name is Anthony Fontana I'm a CPA with ea tax resolutions, and today I'm going over how to fill out the IRS form 433a OSC for an IRS offering compromise the IRS form 433 an OIC is the form that we need to fill out to submit an offer and compromise with the IRS to settle our back taxes now I'm going to be going over line by line throughout the whole form, and I'm going to give you guys some pro-tips on some lines where we can deviate from the instructions and potentially get you a better outcome with your offer if at any point you think this form is way too overwhelming, and you'd like to hire a professional well good news is I'm here to help you can use a link in the description below to schedule an appointment with me to go over your particular case all right here's the 20 21 433aoic here uh we're gonna again go through this line by line so let's get started here section one uh this one's pretty straightforward obviously you put your name uh date of birth social your marital status as...

People Also Ask about

What is the difference between 433-A and 433-A OIC?

Form 433-A is the long form of the Collection Information Statement. Form 433-A OIC is the version of the form specifically used when seeking an offer in compromise.

How to fill out 433-a OIC?

3:21 27:49 How to fill out IRS Form 433-A OIC - 2022 - YouTube YouTube Start of suggested clip End of suggested clip Here. If you have more which a lot of people do you would just attach. A A statement with the sameMoreHere. If you have more which a lot of people do you would just attach. A A statement with the same information here bank name account number and then the balance. And attach that to the 433.

What is the difference between form 433A and 433-A OIC?

Difference Between Form 433-A and 433-A (OIC) They are both collection information statements for wage earners and self-employed people. Form 433-A (OIC) requests about the same information as Form 433-A, but it is slightly longer and in a different order.

What is IRS form 433A used for?

Who should use Form 433-A? Form 433-A is used to obtain current financial information necessary for determining how a wage earner or self-employed individual can satisfy an outstanding tax liability. If you are an individual who is self-employed or has self- employment income.

What is a form 433-a OIC?

Use this form if you are An individual who owes income tax on a Form 1040, U.S. Individual Income Tax Return. ● An individual with a personal liability for Excise Tax. ● An individual responsible for a Trust Fund Recovery Penalty.

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What is IRS 433-A (OIC)?

IRS Form 433-A (OIC) is a collection information statement used by individuals who are applying for an Offer in Compromise (OIC) with the IRS. It provides detailed financial information to help the IRS determine the taxpayer's ability to pay.

Who is required to file IRS 433-A (OIC)?

Individuals applying for an Offer in Compromise must file IRS Form 433-A (OIC) to provide the IRS with a comprehensive overview of their financial situation, including income, expenses, assets, and liabilities.

How to fill out IRS 433-A (OIC)?

To fill out IRS Form 433-A (OIC), taxpayers need to provide their personal information, details about their income, monthly expenses, assets, and liabilities. It is essential to accurately report all financial information and sign the form.

What is the purpose of IRS 433-A (OIC)?

The purpose of IRS Form 433-A (OIC) is to assist the IRS in evaluating the financial condition of a taxpayer applying for an Offer in Compromise, allowing them to determine if the taxpayer qualifies for a reduced tax liability.

What information must be reported on IRS 433-A (OIC)?

IRS Form 433-A (OIC) requires taxpayers to report details concerning their personal information, income sources, monthly living expenses, assets (such as bank accounts and property), and liabilities (such as debts and mortgages).