Updated May 2025
Form 433-F: (Collection Information Statement)
When the IRS needs to know more about your financial situation, the agency may request Form 433-F (Collection Information Statement). Depending on the circumstances, you may proactively complete this form to apply for an IRS program, or an IRS Revenue Officer may request this form from you.
In either case, make sure you complete the form accurately and consider working with a tax professional to get the best results possible. To get help now, contact us at Wiggam Law today. In the meantime, keep reading for an overview of when to use this form, how to complete it, and when to hire a tax attorney for help.
Key takeaways
- Form 433-F – Used by the IRS to assess your financial situation.
- For payment plans – Required if you owe over a certain amount, can’t afford the minimum payment, or need more than 6 years to pay.
- To stop collection actions – May be required if you want to get on currently non-collectible status.
- How to complete – Fill out with info about your income, expenses, assets, and debts.
- When to get help – Tax attorneys can help you deal with the IRS.
What Is the IRS Form 433-F Definition?
IRS Form 433-F is a collection information statement. The IRS uses this two-page form to gather financial details about taxpayers. The agency then considers those details and the taxpayer’s financial situation when making decisions about collection actions and payment plans.
You may use it to apply for currently not collectible status, and in some cases, the IRS requests this form when you apply for a payment plan and need special accommodations like more time to pay, lower monthly payments, or payments on a large debt.
What Goes on Form 433-F?
This form collects detailed info about your assets (bank accounts, investments, real estate, etc.) and debts (credit cards, mortgages, car loans, etc.). It also asks about your income and monthly expenses.
Who Should File Form 433-F?
You should file this form if you want the IRS to pause collection actions because you’re experiencing financial hardship. You may also need to file this form in certain situations when applying for a monthly payment plan.
Here’s when to file Form 433-F:
- To request currently not collectible status – If you want the IRS to stop collection actions against you, file this form to prove that you can’t afford to pay.
- To apply for payment plans on high levels of tax debt – If you owe over $50,000, you generally need to complete this form to request a payment plan.
- If you can’t afford the minimum payment on an installment agreement – The minimum payment is the monthly payment required to pay off the tax debt in six years or by the collection expiration date. If you can’t make that payment, you need to file Form 433-F.
There may be other situations where the IRS requests this form or similar types of financial statements.
How to Fill Out Form 433-F
Again, Form 433-F requires information about your assets, debts, income, and expenses. Here’s a checklist of the items you should gather to fill out this form:
- Income
- Name of your employer
- Frequency of paychecks
- Amount of paychecks before and after taxes
- When you were hired
- The same details about the spouse’s employment
- Other sources of income, such as alimony, child support, rental income, or pensions
- Expenses
- All monthly expenses, including food, clothing, transportation, health insurance, housing costs, utilities, and others
- Assets
- Bank account number, balance, and bank name
- Investments – account number and balance for retirement accounts, CDs, mutual funds, stocks, bonds, etc.
- Cryptocurrency details, including type, virtual wallet, email address associated with currency, location, and current value in U.S. dollars
- Real estate details, including year purchases, purchase price, refinance details if relevant, current value, and balance owed
- Personal property – description, current value, monthly payment, and balance owed for cars, boats, RVs, and other assets
- Debts
- Type, credit limit, balance owed, and monthly payments for all credit cards
- Business owners also need:
- Name of business
- Business EIN
- Type of business
- Number of employees (not counting the owner)
- Accounts receivable (outstanding invoices) owed to you or your business
- Info about credit card processing details
- Decide if you should apply for tax forgiveness.
- Negotiate a settlement if right for your situation.
- Help with tax planning to avoid future tax debt.
- Appeal incorrect tax liabilities.
- Contest penalties.
- Review old tax returns to look for mistakes.
- Help you avoid collection actions.
Can I provide additional details with Form 433-F?
If you need to explain some of the details on Form 433-F, you can attach a statement to the form. Review the instructions to see how the IRS expects you to share this information or work with a tax professional. It may be especially important if you have expenses that are over the allowable standards.
Allowable Expenses and IRS Financial Standards
The expense section is the most important part of Form 433-F – If your expenses are above the allowable standards, the IRS will not consider them when reviewing your application. For instance, if you spend $500 a month more on groceries than the IRS thinks you should, the IRS will expect you to change your spending habits and put the extra $500 per month toward your tax bill.
What are the IRS financial standards?
The IRS’s financial collection standards are the amounts that the IRS thinks you should be spending on expenses like housing, transportation, groceries, etc.
Many of the allowable standards vary based on where you live and the number of people in your household. For instance, in 2025, if you live in Atlanta in Fulton County, the financial standard for housing (rent/mortgage, utilities, etc.) is $2,782 for a family of three, but in Gwinnett County, it’s $2,398.
Transportation standards also vary based on location, but food, housekeeping, clothing costs, medical expenses, and a handful of other expenses are standard regardless of where you live.
How to find the IRS’s collection standards
The IRS updates its collection financial standards every year, and you can check the agency’s website to get a sense of what it expects.
What if you spend more than the collection standard, but there’s a good reason for doing so?
You must explain why your expenses exceed the allowable standard and why the agency should increase the threshold in your situation.
The IRS is aware that certain situations require people to spend more than average. For instance, you may have higher medical costs due to an illness, higher food costs due to an allergy, or higher costs in other categories for other compelling reasons. In these cases,
Regardless of popular opinion, the IRS can be reasonable. Say your housing expenses are a couple hundred more than the allowable threshold. In this case, the IRS isn’t going to demand that you sell your home and look for somewhere with a slightly lower mortgage. That would be an absurd amount of effort for a few hundred dollars.
That said, however, the agency can also be fairly strict. If it looks like you could take a loan against the equity in your home to pay off your tax debt, the agency may tell you to do that.
FAQs on Form 433-F
Do you only need to complete Form 433-F for a payment plan if you owe over $250,000?
No, you may need to file this form to get payments even if you owe less than $250,000. The instructions of Form 9465 (Installment Agreement Request) say to complete the 433-F if you’re applying for payments on tax debt over $50,000.
However, for a few years after the COVID pandemic, the IRS increased this threshold to $250,000 for tax accounts that had not been assigned to a Revenue Officer. Even now, as of 2025, there may be cases where you can get payments on debt levels over $50,000 without filing this form. If you’re unsure whether or not you need to file Form 433-F, consult with a tax attorney.
What if I’m not comfortable sharing all these details on the 433-F?
You should never lie to the IRS – that’s tax fraud. However, if you’re uncomfortable with an IRS request, you should contact a tax professional. They’ll be able to give you the best advice for dealing with the IRS.
What is the mailing address for Form 433-F?
The mailing address varies. If you’re applying for a payment plan, send this form along with Form 9465 to the address noted in the Form 9465 instructions – it varies based on your location and some other factors. If working with a Revenue Officer, ask them. Otherwise, a tax attorney can submit this to the IRS for you.
Do I use Form 433-F to apply for an offer-in-compromise?
No. If you’re applying for an Offer in Compromise, you should file Form 433-A (OIC) if you’re an individual taxpayer or Form 433-B (OIC) if applying for a business.
Why has the IRS requested Form 433-A for a payment plan?
Form 433-A is similar to the 433-F, but it’s more detailed. If you’re working with a Revenue Officer, they may ask for Form 433-A instead of Form 433-F when you apply for certain types of payment plans. If you’re applying for business payment plans, you may need to file Form 433-B.
Why is the IRS requesting both 433-F and 433-D?
If you apply for a payment plan and set up direct debits, you may need to file both of these forms. The 433-F proves your financial situation if you need longer to pay or owe over a certain amount. The 433-D collects bank details and gets your permission for the direct debits.
Should I hire a tax attorney to help with Form 433-F?
Consider contacting an attorney if you want extra help or aren’t sure how to complete this form. An attorney can also help:
Contact the Experienced Tax Attorneys at Wiggam Law
Dealing with tax debts can be incredibly stressful – especially if the IRS requests many financial details, but luckily, there are solutions. Our team of experienced tax attorneys deals with the IRS and state tax agencies daily. They can review your unique tax problem and help you find the most effective, affordable solution.
Ready to get help? Then, call us at (404) 233-9800 or fill out our online consultation form to speak with a Wiggam Law team member today.