Collection Information Statement for Business

Form 433-B Collection Information Statement for Businesses is the secondary information source of all IRS Collection activity aimed against self-employed individuals and businesses. The information contained on this form is necessary for any voluntary payment arrangement between a self-employed taxpayer or a business and IRS. Voluntary payment arrangements include:

• Offers in Compromise
• Installment Agreements
• Uncollectible Status

Without this information, IRS can still seek to collect unpaid taxes from taxpayers who do not cooperate in the process; however, cooperative taxpayers will be asked to provide IRS with the information it contains.

This form is required to be submitted with every Offer in Compromise that is filed with IRS by a self-employed taxpayer. This form provides IRS with the information required for self-employed taxpayers and businesses .

The following information is absolutely required to be attached to your Form 433-B when submitting an Offer in Compromise. Failure to include the information will automatically result in your Offer being returned to you for failure to meet the filing requirements. Some of the information may not pertain to you; for example, if you do not have any life insurance, then you will not be required to provide that information. If the information is not provided, then you must write "N/A" (not applicable) in the spaces of Form 433-B that do not apply.

Failure to complete all entry spaces on form 433-B may result in rejection or significant delay in the Offer process.

You may use this page as a checklist for the information you should provide.

You'll have to include this form 433-B along with your 433-A as support for your Offer in Compromise.

Section 1 Business Information

Section 2 Business Personnel and Contacts

Section 3 Accounts/Notes Receivable

Section 4 Other Financial Information

Section 5 Business Assets

• For leased and purchased vehicles, attach current statements from lenders with monthly payments and current balances for each vehicle.
• For owned real estate, attach current statements from lenders with monthly payment amounts and current balance for each piece of real estate.
• For other business assets, attach current statements from lenders with monthly payment amounts and current loan balances for assets listed which have encumbrances.

Section 6 Investment, Banking and Cash Information

• Include your current bank statements (checking and savings) for the past 3 months for all accounts.
• Include your current bank statements (checking, savings, money market, and brokerage accounts) for the past 3 months for all accounts.

Section 7 Monthly Income and Expenses