What Income is Reported on Form 433A? A Columbus Tax Lawyer Explains

Form 433A is a form used by the IRS to obtain collection information on individuals. The from is requested by the IRS when an individual is attempting to resolve an outstanding tax debt such as through an installment agreement, partial payment installment agreement or perhaps through being placed in a non-collectible status. A material amount of the information requested and used by the IRS on Form 433A is an individual’s income. Thus, what income must one report on Form 433A? The quick answer is all income! Form 433A requests the following types of income: wages, interest, dividends, distributions from partnerships or s corporations, self-employment income, gifts, social security benefits, disability benefits, unemployment income and other sources of income. If you have any questions related to completing Form 433A for the IRS, you can speak with a Columbus tax attorney at The McGuire Law Firm.

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