Form 433B

If you owe the IRS money, chances are they are going to want a collection information statement from you to determine how they can be repaid. The IRS does not make completing the collection information statement easy on you.  For starters, there are five different financial statements that the IRS collection division uses. How do you […]

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The average amount the IRS settles for in an offer in compromise is $6,629.  Sounds good, doesn’t it? If only it was that easy – everyone would be doing it, right? The reality is that in 2014, the IRS received 68,000 offers in compromise from taxpayers. The IRS accepted 27,000 of those offers. That’s an […]

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How frequently can the IRS ask you for a collection information financial statement? To resolve most IRS collection cases, the IRS requires a disclosure of your finances.  If you think about it, that’s fair.  You owe the IRS money, and they want to know how – and if – they can get paid.  The IRS uses […]

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You owe the IRS and would like to put past mistakes behind you and get a fresh start.  You may have heard a lot about the IRS offer in compromise program – popularized by those deep-voiced TV and radio advertisements that makes it sound like you just call the IRS, offer a number, they say […]

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If you owe the IRS money and are dealing with an IRS Revenue Officer, or even IRS Automated Collection Service, expect deadlines.  Deadlines to provide financial information, deadlines to provide unfiled returns, and deadlines for a plan for account resolution. These deadlines are serious – failure to timely comply is usually reason enough for the […]

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Resolving your tax debt often involves providing a financial statement to the IRS that discloses what you own, who you owe, what you make, and how much you spend. Your financial disclosures are required to be made on forms designed by the IRS.  There are three forms that the IRS uses:  The 433A, which you […]

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