Form 433 Collection Information Statement

FORM 433 COLLECTION INFORMATION STATEMENT

  • Discussed all of the taxpayer’s income, expenses, assets and liabilities;
  • May be used by the IRS if the offer tails.

MARTELLE’S SPREAD SHEET

  • Calculates the difference between income and expenses to determine how much needs to be paid in either a cash offer or two-years short-term deferred offer.
  • IRS does not care what the taxpayer actually spends;
  • IRS only allows an amount set fourth in their allowed expenses.

THERE ARE NATIONAL EXPENSES & REGIONAL EXPENSES

NATIONAL EXPENSES:

  • Allowance for auto payments
  • Allowance for food, clothing and household expenses.

FORM-433-COLLECTION-INFORMATION-STATEMENT

REGIONAL EXPENSES:

  • Allowance for housing;
  • Allowance for transportation
  • MEDICAL EXPENSES & MEDICAL INSURANCE

IRS ALLOWS WHATEVER IS REASONABLY NECESSARY.

    • SECURED DEBT PAYMENTS OR SUPPORT PAYMENTS
    • If these payments terminate prior to the conclusion of the 4 or 5 years calculation, the IRS will consider that additional income when analyzing the OIC.

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