IRS 433A – New Form – Caution, before giving to the IRS
Call us for a no cost analysis of your IRS form 433A.
Below, the Link to the New 433A.
www.irs.gov/pub/irs-pdf/f433a.pdf
I am a Former IRS Collections Agent and Teaching Instructor with the Internal Revenue Service. I have some good advice for you,

NEVER GIVE THIS FORM TO THE IRS BEFORE A REVIEW FROM A TRUE TAX PROFESSIONAL.
I give you this information not as a scare tactic but for a pure reality check. There are many companies and professionals to chose from the single most important document that will determine the outcome of your case is the IRS 433A.
IRS will use this form to govern your financial life.
IRS wants to collect as much money from you as they can. They use this  IRS 433A to make one of the 3 following determinations:
1. IRS will put your case in hardship,
2. IRS will have you start to make payments,
3. IRS will let you know you are a offer in compromise candidate.
Why the Caution?
IRS can chose or deny accept your expenses sometimes on there own discretion an you have no idea whether they are being fair or not.
In most cases the IRS uses this 433A to their advantage to collect more. You also have no idea what to fight because you assume what they are telling you is the gospel truth.
That is the reason you need a tax professional to fight for you. We no the limits of the IRS boundaries. Tax professionals who have worked thousands of cases know exactly how to win.
Once the IRS receives the 433A  they will ask for completely documentation and this include the following:
1.  Wages, salaries, pensions, and social security: Enter gross monthly wages and/or salaries. Do not deduct tax withholding or allotments taken out of pay, such as insurance payments, credit union deductions, car payments, etc,
2.  Net Income from Business.
Enter monthly net business income. This is the amount earned after ordinary and necessary monthly business expenses are paid. This figure is the amount from page 6, line 89. If the net business income is a loss, enter “0”. Do not enter a negative number.If this amount is more or less than previous years, attach an explanation.
3.  Net Rental Income.
Enter monthly net rental income. This is the amount earned after ordinary and necessary monthly rental expenses are paid. Do not include deductions for depreciation or depletion. If the net rental income is a loss, enter “0.” Do not enter a negative number.
4.  Distributions.
Enter the total distributions from partnerships and sub-chapter S corporations reported on Schedule K-1, and from limited liability companies reported on Form 1040, Schedule C, D or E. Enter total distributions from IRAs if not included under pension income.
5.   Other Income.
Include agricultural subsidies, unemployment compensation, gambling income, oil credits, rent subsidies, etc.
6.  Expenses not generally allowed.
IRS generally do not allow tuition for private schools, public or private college expenses, charitable contributions, voluntary retirement contributions or payments on unsecured debts.
However, IRS may allow the expenses if proven that they are necessary for the health and welfare of the individual or family or the production of income.
7.  Food, Clothing and Miscellaneous.
Total of food, clothing, housekeeping supplies, and personal care products for one month. The miscellaneous allowance is for expenses incurred that are not included in any other allowable living expense items.
Examples are credit card payments, bank fees and charges, reading material, and school supplies.
8.  Housing and Utilities.
For principal residence: Total of rent or mortgage payment. Add the average monthly expenses for the following: property taxes, homeowner’s or renter’s insurance, maintenance, dues, fees, and utilities. Utilities include gas, electricity, water, fuel, oil, other fuels, trash collection, telephone, cell phone, cable television and internet services.
9. Vehicle Ownership Costs.
Total of monthly lease or purchase/loan payments.
10. Vehicle Operating Costs.
Total of maintenance, repairs, insurance, fuel, registrations, licenses, inspections, parking, and tolls for one month.
11. Public Transportation.
Total of monthly fares for mass transit (e.g., bus, train, ferry, taxi, etc.)
12.  Out of Pocket Health Care Costs.
Monthly total of medical services, prescription drugs and medical supplies (e.g., eyeglasses, hearing aids, etc.)
13.  Current Year Taxes.
Include state and Federal taxes withheld from salary or wages, or paid as estimated taxes.
IRS 433A – New Form – Caution, before giving to the IRS