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Jax Tax
Jax Tax, Tax Attorney
Category: Tax
Satisfied Customers: 1376
Experience:  JD, LL.M in Business and Taxation, IRS Enrolled Agent. Expert in Business and Tax Transactions
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I COMPLETED FORM 433-F IN 2010. I NEED TO AMEND THE FORM

Customer Question

I COMPLETED FORM 433-F IN 2010. I NEED TO AMEND THE FORM DUE TO MY INTEREST IN PROPERTY INCREASING. WHAT FORM DO I NEED TO MAKE THE AMENDED CHANGES & CAN YOU EMAIL FORM TO ME ATXXX@XXXXXX.XXX?
Submitted: 3 years ago.
Category: Tax
Expert:  Jax Tax replied 3 years ago.

Jax Tax : The point of a 433f is to establish a payment plan or hardship status regarding debt to the IRS. If one of these has already been set, you need not provide any additional information. If the purpose is to reduce the monthly payment, then a new 433f with all current documentation must be provided.
Jax Tax : Keep in mind, increases in income may increase the payment and there are caps on housing expenses based on set local standards so increased expenses may not be allowed.
Jax Tax : To answer the question, there is no amendment. You must provide a new 433f.
Jax Tax : If nothing has happened since you sent it, you need to call 800 829 7650 and figure out why. It takes some time, but that is too long.
Customer :

I SIGNED A FORM INDICATING I OWN 1/8 INTEREST IN PROPERTY. I HAVE AN UNRECORDED DEED THAT GIVES ME A 1/2 INTEREST DATED 2/03 THAT I NEED TO FILE WITH THE COUNTY CLERKS OFFICE. I WILL BE GETTING ANOTHER 1/8 INTEREST IN SEVERAL DAYS. I WAS TOLD THAT I AM GUITLY OF A FEDERAL OFFENSE BY MY NOT INCLUDING THE 1/2 INTEREST I OWN IN THE UNRECORDED DEED WHEN I SINGED THE IRS FORMS SETTING UP MONTHLY INSTALLMENT PAYMETNS. MY UNDERSTANDING WAS IF THE DEED WAS UNRECORDED IT WAS NOT RELEVANT. I WAS WRONG. I WAS TOLD I COULD FILE A FORM AMENDING THE INCORRECT AMOUNT OF INTEREST I HAVE IN THE PROPERTY. MY MONTHLY PAYMENTS ARE $4,000.00 PER MONTH - NOT THAT THAT IS RELEVANT. I AM CONCERNED THAT THE AMOUNT OF INTEREST BE CORRECTED SO I WILL NOT BE ACCUSED OF MISINFORMATION TO THE IRS.

Customer :

I DO NOT UNDERSTAND. WHAT DOES IT MEAN:

Customer :

"JAX TAX HAS ENTERED THIS CHAT"

Jax Tax : I would simply mail a written statement with the next payment. There is no form to amend the previously filed 433. It really is no that big of a deal l, but you are correct, you should fix the mistake if it was owned at the time the original 433 was sent.
Expert:  Jax Tax replied 3 years ago.
Let me know if you need additional help.
Expert:  Jax Tax replied 3 years ago.
The 433f in signed under penalties of perjury but there would need to be some type of intent to defraud or other tortuous purpose for your exclusion of information before the IRS pursued criminal charges. It seems to have been a simple oversight that can be corrected by providing a written explanation with your next payment. If you are making payments electronically, then send it to IRS Cincinnati OH 45999.

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