- Instructor: Attorney Bob Schaller
- Lectures: 5
- Quizzes: 1
Categories: Offer in Compromise
Tags: Form 433-B
Form 433-B (OIC): Collection Information Statement for Businesses.
Form 433-B (OIC), Collection Information Statement for Businesses must be included with certain Offer in Compromise application packets when the grounds for compromise are based on doubt as to collectibility or effective tax administration. No Form 433-B (OIC) is required for an offer to compromise based solely on doubt as to liability. The OIC application packet must also include Form 656 that was discussed in the prior courses, the necessary payments, and all attachments or other documentation required by the IRS.
Overview of Form 433-B (OIC)
Sections 1 & 2
Sections 3 & 4
Sections 5, 6 & 7
Tax LawThis course helps tax professionals who are representing businesses. Form 433-B (OIC), Collection Information Statement for Businesses, like Form 433-A (OIC) discussed in a prior course, provides the financial basis for quantifying the offer amount. It also discloses all of the taxpayer’s assets, income, expenses, and other information relative to the taxpayer’s financial affairs.