Form 433-F, Collection Information Statement, is the streamlined financial questionnaire the IRS uses to evaluate a taxpayer's ability to pay outstanding tax debt. It captures monthly income, monthly necessary living expenses, asset values (bank accounts, vehicles, real estate, retirement accounts, investments), and outstanding liabilities. The IRS Automated Collection System (ACS) uses Form 433-F to decide whether the taxpayer qualifies for an installment agreement, an offer in compromise, partial-pay installment, or currently not collectible (CNC) status.
Individual taxpayers who owe federal taxes and are working with the IRS's Automated Collection System (ACS) - typically those who received a notice asking for a Collection Information Statement to evaluate payment options. Self-employed taxpayers and individuals with simpler financial situations use Form 433-F. More complex cases (high net worth, business owners with substantial assets) may need to file Form 433-A (individuals) or Form 433-B (businesses) instead, which capture more detail.
Bank account statements, latest pay stubs (or profit and loss for self-employed), monthly housing costs (rent or mortgage, utilities, insurance), vehicle information and loan balances, retirement account balances, life insurance with cash value, investment accounts, monthly expenses for food, clothing, medical care, transportation, and other necessary living expenses, list of creditors and balances, and recent IRS notices about the tax debt. The IRS compares living expenses against published National Standards and Local Standards when evaluating reasonable ability to pay.
File Form 433-F when the IRS requests it - typically in response to a Collection Due Process notice (Letter 1058 or LT 11), a final notice of intent to levy, or a CP504 notice. Submit by fax, mail, or upload through the IRS Document Upload Tool when working with ACS. Keep copies of every supporting document and a copy of the completed form. Form 433-F isn't part of a tax return - it's a separate collection-process form. After review, the IRS proposes a payment plan, accepts a CNC status request, or asks for more documentation.
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