How to Fill Out IRS Form 433-F. IRS Form 433-F, entitled "Collection Information Statement," should be completed by those taxpayers who owe outstanding taxes to the Internal Revenue Service in excess of $25,000 and have trouble paying off their tax liabilities. The IRS uses this form to determine how much a taxpayer can afford to pay and to assess which assets that they can liquidate in order to reduce the outstanding tax debt.
Download IRS Form 433-F from the Internal Revenue Service website (see Resources below for the link) or call (800) TAX-FORM to receive a copy. If you have a large outstanding tax debt, an IRS official may provide you with a copy of the form automatically. Fill in your name, spouse's name (if applicable), address, Social Security number (or TIN), spouse's Social Security number (or TIN), county of residence and home, work and cell phone numbers.
Complete Part A: Accounts/Lines of Credit. List all bank/savings and loan/credit union accounts, CDs, IRAs, Keogh plans, simplified employee pensions, 401(k)s, profit-sharing plans, mutual funds and stock brokerage accounts that you and your spouse own as well as the name and address of each institution and the current balance of each account. You must provide copies of the past three months' statements for bank and credit union accounts.
Provide information for Part B: Real Estate. List your primary home, vacation homes and timeshares, along with their monthly payment amounts, financing information (year purchased and purchase price) and the current value, balance owed and equity achieved in each property. List Other Assets in Part C. Include cars, boats, recreational vehicles and whole life insurance policies. Describe each asset and note its monthly payment, year purchased, the final payment date, the current value of the asset, the balance owed and the equity held in each asset.
Answer Section D: Credit Cards. List all credit cards you and your spouse hold, including bank and department store cards. Indicate each card's credit limit, balance owed and the minimum monthly payment for each.
Disclose information about your family's wages and other income in Sections E and F: Wage Information and Non-Wage Household Income. List you and your spouse's employer names and addresses as well as when your wage frequency: monthly, bi-weekly, semi-monthly or weekly. Provide copies of the last three months of pay stubs. List all alimony, child support, rental income, unemployment income, pensions, interest income, Social Security income and net self-employment income you and your spouse receive per month.
Indicate your household's Monthly Necessary Living Expenses and Additional Information in Sections G and H. Detail the amounts you spend monthly for food/personal care, transportation, housing/utilities, medical and other (child care, tax payments, insurance, retirement and court ordered payments). Provide copies of canceled checks or monthly bills detailing these expenses for the last three months as well as any court orders. Note the number of dependents you claim on your tax return and explain any future expected increase or decrease of income or expenses. Sign and date the form; your spouse should do the same. The IRS official who contacted you to complete Form 433-F should provide you with instructions on how to submit the form.