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What is a form 433-B offer in compromise?

IRS Notices: 433-B and Other Similar Forms If the business qualifies for an offer in compromise, meaning the IRS would agree to settle for an amount less than the tax owed, the business would complete a Form 433-B (OIC) instead. The Form 433-B (OIC) asks for the same financial information as Form 433-B.

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 offer in compromise program for the Comptroller of Maryland?

What is the Comptroller of Marylands Offer in Compromise Program? The Offer in Compromise Program allows you to settle your tax debt for less than the full amount you owe.

What is IRS form 433 used for?

Form 433-A, or the Collection Information Statement for Wage Earners and Self-Employed Individuals, is used by the Internal Revenue Service (IRS) to evaluate a taxpayers financial standing.

Where to mail a Maryland state tax return with payment?

If you are sending a Form 502 or Form 505 (with a payment) through the US Postal Service, send it to: Comptroller of Maryland, Payment Processing, PO Box 8888, Annapolis, MD 21401-8888.

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What is the difference between 433a and 433b?

IRS Form 433-A is used by individuals and self-employed taxpayers to disclose financial information, while IRS Form 433-B is specifically for businesses. Both forms provide details on assets, liabilities, income, and expenses to help the IRS assess repayment options.

What is the purpose of form 433-B?

When a business owes federal taxes and cannot pay immediately, Form 433-B comes to the rescue. This Collection Information Statement is designed for businesses, such as s-corporations, partnerships, or c-corporations, to report assets, income, and expenses.

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