Create Form 433 a Oic

Form 433 A Oic: What Is It?

This form is a different version of the Form 433-A, which is known as a Collection Information Statement for Wage Earners and Self-Employed Individuals. The change with this particular form is that it is used when a filer wants to make an Offer in Compromise. This means that when they are filing their taxes with this form, they can make an offer to settle their debt for less than the full amount owed.

This form should only be used by people who have a true financial hardship and are unable to pay. The Internal Revenue Service will look at several factors to see if a compromise is appropriate. This includes the taxpayer’s income, assets, ability to pay, and expenses. The offer will only be accepted if the filer meets certain qualifications. Be sure that you explore all your options in case your offer is denied.

To completely fill out this form, information about your household, earnings, expenses, assets, and more. You will also need to provide a suggested offer. A qualified tax professional can help you come up with an appropriate offer if you need help.