Glossary

Form 433-B: Collection Information Statement for Businesses

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IRS Form 433-B is a financial disclosure form that businesses use when applying for IRS tax relief programs, such as Installment Agreements, Offers in Compromise (OIC), or to be classified as Currently Not Collectible (CNC). This form provides a detailed picture of the business’s financial situation, including income, expenses, assets, and liabilities.

The IRS requires this form to assess a business’s ability to pay its tax debt and to determine the appropriate tax relief options. Form 433-B must be completed with accuracy and full disclosure, as incomplete or incorrect information can delay or prevent approval for tax relief.

Recommendation

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