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What is important to know About my Form 433A collection information statement?
The function of the Form 433-A is to determine what a taxpayer’s monthly excess income is for purposes of IRS collection activity. The calculated monthly excess income figure is the amount the IRS considers a taxpayer has available to make monthly payments to the IRS. In determining a taxpayer’s excess income the IRS will routinely disallow any expense claimed as part of a taxpayer’s Form 433-A excess income calculation that is not directly related to the taxpayer’s, or his or her family’s, health, welfare or sustenance. Additionally, the IRS will further limit the food, clothing, housing, utilities and transportation claimed on the Form 433-A by a taxpayer to the lower of the taxpayer’s actual expenses or the amounts allowed for these expenses under a set of national and local expense standards called the Collection Financial Standards. The standards are broken down by the number of people in a family and monthly gross income.
National Standards have been established for five necessary expenses: food, housekeeping supplies, apparel and services, personal care products and services, and miscellaneous.
The standards are derived from the Bureau of Labor Statistics (BLS) Consumer Expenditure Survey (CES) and defined as follows:
Food includes food at home and food away from home. Food at home refers to the total expenditures for food from grocery stores or other food stores. It excludes the purchase of nonfood items. Food away from home includes all meals and snacks, including tips, at fast-food, take-out, delivery and full-service restaurants, etc.
Housekeeping supplies includes laundry and cleaning supplies, stationery supplies, postage, delivery services, miscellaneous household products, and lawn and garden supplies.
Apparel and services includes clothing, footwear, material, patterns and notions for making clothes, alterations and repairs, clothing rental, clothing storage, dry cleaning and sent-out laundry, watches, jewelry and repairs to watches and jewelry.
Personal care products and services includes products for the hair, oral hygiene products, shaving needs, cosmetics and bath products, electric personal care appliances, and other personal care products.
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