Form 433-F: Collection Information Statement

In hot water with the IRS? Don’t panic. If you owe IRS back taxes, finding your way out of liability may not be as impossible as it seems. The United States federal government has created ways for taxpayers to resolve their outstanding obligations and clear their name from collections.

Before figuring out which back tax resolution path to take, you’ll need to submit a Formulario 433-F to the IRS. There are a few differences between the various 433 forms, and you have to file the right one in order to report your financial status. If you’re unsure how to file, or which form to file, we can help. Read on for IRS Form 433-F instructions and start taking steps toward your financial freedom. If there’s a particular section that interests you, skip to it using one of the links below.

¿Qué es el Formulario 433-F del IRS?

La hoja de información del formulario IRS 433 F es una de las maneras en que el gobierno recopila tu información personal para entender tu situación financiera y tu capacidad para pagar tu deuda tributaria. Informa de tu historia financiera total y será un paso necesario antes de llamar al Servicio de Cobro Automatizado del IRS (unidad de ACS). Si eres contactado por un agente local de cobro de impuestos acerca de tus impuestos adeudados, es probable que te pidan un formulario 433 para impuestos personales o 433 B para impuestos comerciales. El formulario 433 F, sin embargo, te será solicitado por los agentes de la Unidad ACS. Los funcionarios de cobro de impuestos son el nivel más alto de cumplimiento de cobro del IRS, y como tal, requerirán la mayor cantidad de desgloses financieros. Afortunadamente, la versión F del formulario 433 del IRS es una forma más corta y más simple para reportar tu información que sus otras variantes; tiene menos preguntas, menos páginas y es más fácil de llenar. Presenta un Formulario 433F para negociar con los agentes en los centros de llamadas de ACS y recibe una solución más económica para tu deuda tributaria pendiente.

Differences Between Forms 433-A, B, and F

If a local IRS collections revenue officer contacts you regarding your back taxes, they’ll likely request a Form 433-A for personal taxes or Form 433-B for business taxes. Form 433-F, however, will be requested by the agents at the ACS Unit. Revenue officers are the highest level of IRS collection enforcement, and as such, will require the greatest amount of financial disclosures.

Fortunately, IRS Form 433-F is a shorter and simpler way to report your information than its other variations; it has fewer questions, less pages, and is generally easier to fill out. Submit a Form 433-F to negotiate with the agents in the ACS call centers and receive a more affordable solution for your outstanding tax liability.

Who Should File Form 433-F?

You only need to file IRS Form 433-F if you have impuestos atrasados. Delinquent taxes are any form of taxes owed to the IRS—the taxes are considered delinquent once the due date for payment passes and the taxes remain unpaid. If you don’t attend to your delinquent tax liability, you may face monetary penalties or other legal ramifications. 

If you do in fact have delinquent tax liability, then Form 433-F can be used when applying for uncollectible status. Uncollectible status is a designation that can be applied in special circumstances and it allows you to remain in compliance as a taxpayer without facing collections enforcement. You may also be required to fill out Form 433-F if you’re in the process of setting up a payment plan for your tax dues with the IRS.

Understanding Your Collection Information

While it’s going to take some time and effort to accurately fill out, Form 433-F is a relatively short and simple document. Just follow the Form 433-F instructions listed on the document itself and answer every section as honestly and completely as you can.

However, there are two things that you should have a general understanding of before completing IRS Form 433-F: National Standards and allowances. Put simply, these are the maximum amounts of money the IRS expects you to be spending in order to stay on track with repaying your tax liability. Below, we’ll take a closer look at what, exactly, we mean when we discuss National Standards and allowances as they relate to Form 433-F.

¿Cuáles son los estándares nacionales de forma 433 F?

“Normas Nacionales” (o Normas Financieras de Cobro del IRS) permiten que los contribuyentes con obligaciones reclamen una cierta cantidad para gastos necesarios basado en un promedio nacional, contra una cantidad local. Reporta tus normas nacionales 433 F al IRS para mejorar tu oportunidad de calificar para programas de alivio tributario; ellos tomarán en cuenta este número al deliberar el pago potencial y reducirlo de tu cantidad de ingresos. El Gobierno creó cinco categorías para las normas nacionales 433 F:

  • Alimentos (gastos totales para alimentos de supermercados, restaurantes, etc.)
  • Suministros de limpieza (suministros de lavandería y limpieza, gastos de envío, servicios de entrega)
  • Prendas de vestir y servicios (ropa, calzado, tintorería, joyería)
  • Productos y servicios de cuidado personal (cuidado del cabello, higiene oral, cosméticos)
  • Varios (pagos con tarjeta de crédito, gastos bancarios, útiles escolares)

Taxpayers will be automatically allowed the total National Standards monthly amount according to their family size, without being questioned as to how much was actually spent. However, if you claim more than the 433-F National Standards, they’ll ask for supporting documents to substantiate those expenses.

For example, as of 2020, a family of four could claim $1,740 for food, clothing, and other items, but a figure exceeding that amount would need to be substantiated with documentation that proves the costs included in the total are necessary living expenses.

¿Cuáles son las asignaciones del Formulario 433 F del IRS?

Además de los Estándares Nacionales, las asignaciones de 433 F incluyen gastos médicos de bolsillo como medicamentos recetados y anteojos. Tus gastos de vida necesarios se calculan en conjunto al calcular tu reembolso de impuestos en mora. Serán considerados gastos permitidos para la salud y el bienestar tuyo y de tu familia: el costo de vida en tu área, el tamaño de tu familia, tu ingreso mensual y los bienes que puedas poseer.

Si debes impuestos y no puedes pagar, es absolutamente necesario reportar las asignaciones en un 433 F. Estos números pueden ser difíciles de calcular, y te conviene ponerte en contacto con un profesional de impuestos que pueda brindarte la mejor estructura de pago posible.

How Do I File Form 433-F?

In this section, we’ll go over the different sections of Form 433-F. The document is split up into eight distinct sections that cover your accounts, real estate, assets, credit cards, business details, employment status, household income, and necessary living expenses. To make it easier to understand, let’s break Form 433-F down section by section.

Section A: Accounts and lines of credit

The first section requires you to list information regarding your personal bank accounts and investments. Include checking accounts, savings accounts, money market accounts, IRA and 401(k) plans, as well as stocks, bonds, and other investments. There’s even space for you to list any cryptocurrencies you are invested in, such as Bitcoin or Ethereum.

Section B: Real estate

Here you’ll list financial details concerning all of the property you own. This includes your primary home, vacation homes, timeshares, and any other real estate investments you may have.

Section C: Other assets

Your other assets encompass things like vehicles, life insurance policies, and, if applicable, business assets. Make sure to list all of the vehicles you own, including cars, boats, and other recreational vehicles.

Section D: Credit cards

This section provides a space for you to list any and all credit cards in your name.

Section E: Business information

If you’re not a business owner, you don’t have to worry about this section. However, if you are a business owner, you’ll have to list out accounts receivable owed to you or your business as well as your business credit cards and accounts.

Section F: Employment information

In this section, you’ll have to list all of your relevant employment information. This means writing down your current employer, the frequency with which you are paid, the amount you make pre- and post-tax each pay period, and the length of time you’ve been with your current employer. If you have more than one employer, write down their information on a separate sheet of paper. Also keep in mind that if you have a spouse, you’ll have to list their employment information as well.

Section G: Non-wage household income

Non-wage household income includes any income streams that you have outside of a traditional salary or hourly job. This includes things like self-employment income, rental income, unemployment income, Social Security income, and more.

Section H: Monthly necessary living expenses

This is where the National Standards that we detailed in the above section comes into play. The IRS requires you to list all of your monthly living expenses, divided up into five broad categories: food/personal care, transportation, housing & utilities, medical, and other. Remember that if the number you list exceeds the amount allowed by the IRS, you will likely be required to provide documentation that proves the costs that exceed the allowable amount are necessary living expenses.

¿A dónde envío el formulario de IRS 433 F?

Nunca te encontrarás cara a cara con un representante de ACS, y deberás enviar tu documento por correo a la dirección postal del Formulario 433 del IRS. El lugar designado es específico para el estado en que vives, y puedes encontrar tu dirección asignada de correo del formulario 433 del IRS en el sitio web IRS.gov.

Consejos acerca del Formulario IRS 433-F

Para resolver tu caso ante el gobierno federal, deberás completar y enviar correctamente el formulario 433 F del Servicio de Impuestos Internos (IRS). Cualquier notificación incorrecta retrasará el cierre de tu caso y podría ocasionar que incurras en más multas y recargos por mora. Hemos recopilado algunos consejos esenciales para guiarte a través de la presentación de tu Formulario 433 F del IRS para que puedas sentirte más seguro acerca sobre tu informe.

  • Completa cada línea, incluso las que no te sean aplicables. Responde esas preguntas con “ninguno” o “no aplicable (NA)” para evitar cualquier falta de comunicación; cualquier recuadro vacío será considerado un error de tu parte, no una acción deliberada.
  • Incluye tus gastos necesarios. Cuando estés reportando tu estado financiero, el IRS podría determinar que necesitas pagar una exorbitante tasa mensual para tu deuda si no informas sobre tus asignaciones.
  • Verifica si puedes establecer un Acuerdo de pago en línea antes de presentar un Formulario 433 del IRS. Toma en cuenta que este formulario esencialmente entrega un mapa de bolsillo de tus finanzas al gobierno, que luego podría utilizarse en tu contra en incautaciones y embargos. Establecer un sistema de pago en línea puede ayudar a proteger tu información personal.

Conclusiones

If you owe back taxes to the IRS, it’s critical to understand that IRS Form 433-F will likely determine the fate of your delinquent tax liability case with the federal government. The agents at the ACS Unit will use the form to determine whether you’re able to pay your outstanding taxes, and if so, will decide how you’ll pay it off. They may implement an Acuerdo de pago a plazos or label you with an uncollectible status.

To get professional assistance in filling out Form 433-F and come up with an affordable payment plan for your back taxes, hire the help of trusted experts at Community Tax. We’ll file the IRS Form 433-F on your behalf, so you can sit back and rest easy knowing you’re on your way to clearing your name from the IRS’ radar and making progress towards settling your tax dues.

Give us a call today at (844) 328-5857 to schedule a free tax consultation and start improving your financial well-being.

Obtenga ayuda para la preparación de impuestos.

Al ingresar su número de teléfono y haciendo clic en el botón de "Comenzar", usted está proporcionando su firma electrónica y consentimiento para que Community Tax LLC y/o sus proveedores de servicios le contacten al número telefónico que nos proporcionó para brindarle información y ofertas usando un sistema automatizado, mensajes pre-grabados, y/o mensajes de texto. El otorgarnos su consentimiento no forma parte de los requisitos para comprar nuestros servicios. Costos adicionales por mensajes y datos pueden aplicar.