How to fill out IRS Form 433-A OIC - 2022

[@eataxresolutions]

If you are looking to schedule an appointment to go over your case, please use the link below. www.eataxresolutions.com/form-tax-consultation-2

[@billy33365]

Wow thank you so much for all.of your help. Thumbs Up & I subscribed

[@eataxresolutions]

Thanks for the sub! We hope you enjoy our future content!

[@latoyathomas2254]

I have a question about Monthly Household Expenses. Should I enter the amount of tax debt that is currently owed in line 51? When I subtract box E from box D its a negative number so it says to enter 0 in box F. How do I calculate my minimum offer amount? If box F is 0?

[@jnealeigh]

What is you you have a 401 K account you cannot withdraw from because its a Retirement account that you cannot touch until 67 years old. or leave job.

[@eataxresolutions]

You would need to provide this explanation in a statement you submit with the Offer and provide proof. It would not be counted as an asset toward your offer.

[@nunyabiznes3434]

Why would you disclose a virtual account? The can't see it or balance?

[@DamianoOkaie]

Hello, with regards to my late uncle case, IRS issued CP 504 notice in 2012 after his death. I shall I do then?

[@JB-nk6dq]

If you would make a video filling out the sheet as an example with the correct math instead of just explaining it & moving on, it would help a whole lot more.

[@eataxresolutions]

I have another video that uses actual numbers from a case that got accepted. 433-A OIC and the 656. A lot to learn from this video. kzbin.info/www/bejne/bHO3o2SjhdKnbpI

[@albertoazucena4749]

Hi I have questions in 433a. Section 3. Line 3 I have 401k market value is $8900 and I have a loan for amount of $1929 how the amount that I have to put in line 3? Thank you

[@eataxresolutions]

Hey! I went over your comment in my most recent livestream! Hope this helps! If you have any other questions I go live every Monday at 4P.M. PST. Be sure to stop by and ask your TurboTax Question. The link is time stamped to when i answered your question. kzbin.infoozFJYOmHHdI?si=6QclKwiV0dYwTcgA&t=3267

[@DonnaLove-ln7ny]

Under Section 2 I have not worked any jobs where I receive a W2. Do I fill out based on my current income?

[@eataxresolutions]

Depends, What is your current source of income?

[@jewpublican8]

Does all the information that is required has to be on present status? the tax year I am hoping to get help with I was married and now I am not.

[@eataxresolutions]

Great question, the 433A-oic is based on current financial information.

[@kaitlynmarty]

Hi There- For Form 433-A, Section 2, if you own an S-Corp and issued yourself a W-2, is that when you would also need to complete Form 433-B? If so, do you have a video explaining that form as well? I didn't see one. Thanks!

[@eataxresolutions]

Yes if you have an S-Corp you will need to complete the 433-B OIC. Unfortunately I have not made a video on this yet, but it is on the to dos.

[@kaitlynmarty]

@@eataxresolutions Great- Thank you!

[@cosmomontgomery4919]

So if my 401k and retirement is through my employer, do I still fill out the retirement account section?

[@mirandahewlett2570]

Hi there and thank you so much for your thorough videos. I have a question about retirement fund equity value. I have a TRS Texas Teacher's Retirement account that literally cannot be accessed (has no cash value) until I turn 65 years old (retire) or quit working in Texas education entirely, at which point I could choose withdraw early with steep penalties. It's not like a 401K that you can choose to withdraw money from - this is not permissible with a TRS retirement account. Do I need to include it on the 433-A and, if so, how would I calculate the equity as I cannot access it without quitting my job and leaving the education field in the state?

[@eataxresolutions]

Would you be able to take a loan against the retirement account?

[@mirandahewlett2570]

@@eataxresolutions Apologies, I have verified that no, the Texas Teachers Retirement does NOT allow for loans to be taken against the retirement account. The only option is to cease all employment with any state agency of Texas and either request an early refund (with penalties) or roll over to another retirement fund.

[@eataxresolutions]

@@mirandahewlett2570 In that case you would need this in writing from the TRS, report it on 43A oic section for retirement accounts however I would put a zero on line 3a. Then in a cover letter explain the situation and refer to the written document from TRS. Hopefully this makes sense

[@mixedberrypunch]

What if your total from box F is 0? In section 8 it says enter total from box F but do not enter $0.

[@eataxresolutions]

Great question. To clarify it says "Do not enter a number less than $0" You can enter $0 The Offer amount, on the other hand, has to be more than $0

[@mixedberrypunch]

@@eataxresolutions Thanks for clarifying, that's such tricky wording. How do I come up with an offer amount then?

[@eataxresolutions]

@@mixedberrypunch great question, choose something you can afford. (this is a grey area)

[@rubiamala11]

I am married and my husband doesn’t want to be part of it, because I actuaries most of my debt before getting married. can I just put him in my personal information due to my marital status and fill out the form as myself?

[@rubiamala11]

Also, if the amount I get at the end is negative, so I multiply 0 by 12 months, which I would like to offer the lump sum way, please advise, thank you

[@eataxresolutions]

@@rubiamala11 Unfortunately you will need all household income, the link below has a video I did that shows how it worked for someone I got an offer accepted for. kzbin.info/www/bejne/nWWykIGebr2FsLs Offer does need to be more than $1

[@kodicogburn935]

Say if someone is living with their mother temporarily, do you have to put them under household income even though they are not dependent and will the IRS go after said mother for payments?

[@eataxresolutions]

You will need to include the income that contributes to the household, as this helps determine how to apply the household expenses. that does not mean she would be liable for your tax, it just help determine the amount of expenses you get to claim toward the offer.

[@gonzalolopez1042]

I have a friend who is 99.999% sure, he does not qualify for the OIC. So, is there another way for my friend to settle his dept with the IRS? Something quick and easy, maybe a half page form or a phone call; that check's off: "look, I messed up- I'm human. But will you take this lower amount now and call it a day?"

[@eataxresolutions]

unfortunately there is nothing like that. There is something called a first time penalty abatement which he might qualify for kzbin.info/www/bejne/gGe6pnR5fbKghKs

[@michellebower4643]

I need help

[@eataxresolutions]

Schedule an appointment! We can help and let you know your options. www.eataxresolutions.com/form-tax-consultation-2

[@dennishipsley8703]

Don't DO IT!! Petition the U.S. TAX COURT to have ALL claims the IRS has against you DISMISSED for Lack of Jurisdiction, Standing and Merit along with the fact that the tax died/ expired on August 16 1954 BY LAW. GOOGLE 26 CFR 1.0-1 paragraph (d) that clearly says TAXABLE YEARS ENDED AUGUST 16 1954. You will see an excellent copy on line from the Cornell University Law School. Also send the Tax Court a copy of 31 U.S. Code 321 (d)(1)&(2) that says for purposes of the Federal income. Estate and gift taxes is considered a GIFT or BEQUEST for the use of the United States. Since ANY money taken by the IRS is a GIFT, then the "TAX" has to be voluntary WHICH THE SAYS IT IS, and therefore CANNOT be COMPULSORY OR MANDATORY!!!!

[@MsZuby123]

I need help

[@eataxresolutions]

www.eataxresolutions.com/form-tax-consultation-2