IRS Form 433-B (OIC) Collection Information Statement for Businesses

What Is IRS Form 433-B (OIC)?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on April 1, 2023. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 433-B (OIC)?
A: IRS Form 433-B (OIC) is a Collection Information Statement for Businesses used by the Internal Revenue Service.

Q: Who needs to fill out IRS Form 433-B (OIC)?
A: Businesses that are requesting an offer in compromise (OIC) for tax debt settlement need to fill out IRS Form 433-B (OIC).

Q: What is the purpose of IRS Form 433-B (OIC)?
A: The purpose of IRS Form 433-B (OIC) is to provide detailed financial information about a business to determine its eligibility for an offer in compromise (OIC) for tax debt settlement.

Q: What information is required on IRS Form 433-B (OIC)?
A: IRS Form 433-B (OIC) requires information about the business's assets, income, expenses, debts, and other financial details.

Q: Are there any fees or costs associated with filing IRS Form 433-B (OIC)?
A: There may be fees and costs associated with filing IRS Form 433-B (OIC), such as application fees and professional tax help fees. It is best to check the official IRS guidelines or consult with a tax professional for specific details.