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IRS Hardship Form 433A

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Alisson Ward

Tax Professional | Content Writer

IRS Hardship Form 433A

What is IRS Hardship Form 433A

IRS Form 433-A main purpose is to let you provide the IRS a comprehensive view of your financial situation. This includes your income, expenses, assets, and liabilities. On the other hand, the IRS usually asks for information from taxpayers who owe outstanding tax debts. By analyzing the information you provide, they aim to determine how you can realistically repay your debt based on your financial circumstances. Completing IRS Form 433-A can be your key to proving that you’re undergoing financial hardship, be it complete or partial.

What IRS Form 433-A Offers You

Once the IRS grasps your financial situation, they can collaborate with you to create a payment plan that aligns with your financial capacity. This could be a game-changer in resolving your tax debt, such as:

 

  1. Installment Agreement: This agreement allows you to pay off your tax debt in manageable installments, tailored to your financial situation.

 

  1. Offer in Compromise (OIC): This means you might settle your tax debt for less than what you owe, making it more affordable and attainable.

 

  1. Currently Not Collectible (CNC): By using IRS Form 433-A, you can demonstrate that your financial condition is such that paying your tax debt would cause undue hardship. This could result in the IRS temporarily halting collection efforts until your financial situation improves.



When it comes to financial hardships, especially in your taxes, take the chance to check IRS Hardship Form 433-A. The Form 433-A is not just a piece of paper; it’s your way to speak up when you’re facing financial hardship and tax debt. With Priority Tax Relief at your service, we’ll make sure you complete this form correctly and in your best interest.

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