Form433-B (OIC) (Rev. 4-2022). Collection Information Statement for Businesses-2025

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The document is the IRS Form 433-B (OIC), a Collection Information Statement for Businesses, used by corporations, LLCs, partnerships, and other business entities to provide financial information when applying for an Offer in Compromise. It requires detailed disclosures about business assets, income, expenses, and any relevant affiliations or legal issues. The form helps the IRS assess the business's ability to pay tax debts and determine a minimum offer amount for settlement.

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Begin with Section 1, Business Information. Fill in your business name, Employer Identification Number, and physical address. Ensure all contact details are accurate.
In Section 2, Business Asset Information, gather current statements from banks and lenders. List all assets including cash, investments, and real estate. Use reliable resources to estimate values.
Proceed to Section 3 for Business Income Information. Enter average gross monthly income based on recent documentation such as invoices or profit and loss statements.
In Section 4, provide details of your Business Expenses using the most recent statements to ensure accuracy.
Calculate your Minimum Offer Amount in Section 5 by following the provided multipliers based on your payment plan.
Complete Section 6 with any additional information required by the IRS regarding bankruptcy or litigation.
Finally, sign and date the form in Section 7, ensuring all attachments are included before submission.

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What is form 433-B used for?

In summary, Form 433-B is a tool used by the IRS to determine the ability of a business to pay its taxes owed in a variety of situations. Form 433-B might come into play when a company needs to enter into an alternative payment arrangement, a partial or full installment payment agreement, or an offer in compromise.

What is form 433-B offer in compromise?

Form 433-B (OIC) is required for businesses requesting an offer in compromise. File this form with Form 656 if applying for an offer based on doubt as to collectibility. This form requires details about your business revenue, expenses, assets, and debts.

What is IRS form 433 used for?

Form 433-F is used to obtain current financial information necessary for determining how a wage earner or self-employed individual can satisfy an outstanding tax liability. Note: You may be able to establish an Online Payment Agreement on the IRS web site.

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

Eligible Business Entities for Form 433-B This will help you set up a payment plan with the IRS. If youre running your own business by yourself, fill out Form 433-A for payment plans. For offers to settle for less than you owe, use Form 433-B (OIC), not Form 433-B.

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

Form 433-F is a simpler version of Form 433-A, designed to provide the IRS with an understanding of your financial circumstances to assess the best strategy for resolving any tax debt. This form tends to be less complex than its counterparts.

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

Form 433-A (OIC) is a special version of the standard 433-A form, and its specifically used for people who are applying for an office in compromise (OIC).

Can I file 433D online?

If youd prefer to fill out the form online, you can do so directly on the IRS website. First, enter identifying information like your name, address, Social Security number, phone number, employer information, and the kinds of taxes you filed for.