Form 433-B (OIC) - Internal Revenue Service - irs 2025

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The document is Form 433-B (OIC), a Collection Information Statement for Businesses issued by the IRS. It is used by corporations, partnerships, and certain LLCs to provide detailed financial information about their business assets, income, expenses, and ownership structure when applying for an Offer in Compromise to settle tax debts. The form requires comprehensive data on business operations, financial status, and any relevant circumstances affecting the business's ability to pay taxes.

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Click ‘Get Form’ to open it in the editor.
Begin with Section 1, Business Information. Fill in your business name, Employer Identification Number, and address. Ensure all contact details are accurate.
Proceed to Section 2, Business Asset Information. Gather current statements for all assets and liabilities. Enter values for cash accounts, investments, and real estate as instructed.
In Section 3, Business Income Information, calculate your average gross monthly income based on the last 6-12 months of documentation. Input this total in Box B.
Next, move to Section 4 for Business Expense Information. Document your average monthly expenses using recent statements and enter the total in Box C.
Calculate your minimum offer amount in Section 5 by following the instructions provided for Boxes A through F.
Finally, complete Section 6 with any additional information required by the IRS and sign in Section 7 under penalties of perjury.

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Who qualifies for the IRS forgiveness program?

The IRS ultimately determines whether you qualify for debt forgiveness. However, the agency generally considers taxpayers who meet these criteria: a total tax debt balance of $50,000 or less, and a total income below $100,000 for individuals (or $200,000 for married couples).

What qualifies as a hardship for the IRS?

Income and necessary living expenses: The IRS compares your income against allowable living expenses, which include housing, utilities, food, clothing, transportation and healthcare. If your income barely covers or falls short of these basic expenses, you may qualify for hardship status.

How much will the IRS accept for an offer in compromise?

The resulting amount is your monthly disposable income. Take that number and multiply by 12 (which is equal to one year worth of disposable income). This is the bare minimum you can offer to the IRS. They will almost never accept less than this amount.

Does the IRS ask for proof of hardship?

The IRS defines financial hardship as unable to pay his or her reasonable basic living expenses. If you owe more than $10,000, you will need to fill out a form detailing your assets, debts, income, and living expenses. If you are sick or disabled, you will need proof from healthcare providers or caseworkers.

Who is eligible for the IRS hardship program?

To be eligible for the IRS Hardship Program, taxpayers must demonstrate that they are facing significant financial hardship and are unable to pay their tax debts. Taxpayers must provide documentation and evidence supporting their financial situation.

433 b oic

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What is the IRS form 433-B used for?

Form 433-B is used to obtain current financial information necessary for determining how a business can satisfy an outstanding tax liability. Complete items 1 through 6. For items 4 and 5, include information for mobile commerce and mobile accounts such as PayPal Mobile or Paymate.

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

Form 433-A (OIC) is an advanced version of Form 433-A, explicitly created for offers in compromise. Both forms provide the IRS with comprehensive details about taxpayers financial states. Form 433-A (OIC) has been uniquely crafted to decide whether they are qualified for this option.

Who qualifies for the IRS fresh start program?

What are the eligibility requirements for the Fresh Start Program? To qualify for the Fresh Start Program, taxpayers must owe up to $50,000, be in tax compliance, and make monthly direct debit payments. Additionally, if a lien has been filed, the balance must be under $25,000 with three payments made.

Form 433-B (OIC) - Internal Revenue Service - irs 2025

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Who qualifies for the IRS forgiveness program?

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How much will the IRS accept for an offer in compromise?

Does the IRS ask for proof of hardship?

Who is eligible for the IRS hardship program?

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What is the IRS form 433-B used for?

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Who qualifies for the IRS fresh start program?

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