How much you need depends on the option
| Option | Balance and filing records | Income and expense records | Asset and loan records |
|---|---|---|---|
| Short-term plan or Simple Payment Plan | Yes | No financial statement required | No |
| Payment plan above $50,000, or a payment below the minimum | Yes | Yes, on Form 433-F or 433-H | Yes |
| Hardship delay (currently not collectible) | Yes | Usually, on Form 433-F, 433-A or 433-B | Usually |
| Offer in compromise | Yes | Yes, on Form 433-A (OIC) or 433-B (OIC) | Yes, with current values |
| Penalty relief | Yes | No | No |
What the IRS says you owe
You can view, print or download transcripts in your IRS Individual Online Account, or have a return or account transcript mailed to the address on your latest return. Our page on IRS transcripts explains which one answers which question.
- Account transcripts for every year with a balance. These show the tax assessed, each penalty, interest, payments and the assessment dates that start the 10-year collection period.
- Wage and income transcripts for any year you have not filed. These list the W-2s and 1099s the IRS already has.
- Every IRS notice and letter you have received, with the envelopes if you kept them. The notice number in the corner tells you what stage collection has reached.
- Any state notices. Massachusetts is a separate creditor with its own rules; see Massachusetts tax debt.
What you have filed
Every option requires that required returns are filed. If years are missing, that is the first job, and it frequently changes the balance. See unfiled tax returns.
- Copies of the federal and Massachusetts returns for each year with a balance
- A list of any years not filed, with the W-2s, 1099s and business records you still have
- Records of estimated tax payments made this year
- Your most recent pay stub, to check that withholding now covers this year's tax
What you earn
- Pay stubs for the last three months for each earner in the household
- Profit and loss figures for the last 6 to 12 months if you are self-employed
- Social Security, pension and retirement distribution statements
- Rental income, child support, alimony and any other regular income
- Bank statements for the last three months for every account, personal and business
What you spend
The IRS measures living costs against its Collection Financial Standards. National standards cover food, clothing, housekeeping supplies, personal care and out-of-pocket health care. Local standards cover housing and utilities and transportation. Gather proof in the same categories, because that is how the financial statement is laid out. Our Form 433 page explains what is allowed.
- Housing: lease or mortgage statement, property tax bill, homeowner's or renter's insurance, utility bills
- Transportation: car loan or lease statements, insurance, and registration for each vehicle
- Health: insurance premiums and out-of-pocket medical costs
- Court-ordered payments: child support and alimony orders with proof of payment
- Child and dependent care costs
- Current-year taxes: withholding shown on pay stubs and estimated payments
- Other secured debts and student loan statements
What you own and owe
- Real estate: a recent mortgage statement and a reasonable current value for each property
- Vehicles: year, make, model, mileage and loan payoff
- Retirement accounts, investment accounts and the cash value of life insurance, with recent statements
- Business assets, equipment and accounts receivable
- Credit card and loan statements showing balances and minimum payments
Please do not send Social Security numbers, tax documents or bank statements through the form on this website. It is not built to receive them. Tell us your situation first, and we will arrange how records are delivered.
Where we come in
Turning this pile into an answer is the work we do: reading the transcripts, preparing unfiled returns, reconstructing records that are gone from bank and third-party data, working out the collection statute date for each assessment, and preparing the Collection Information Statement with its documents attached. You get a written explanation of which options your numbers support. We give you a scope and a price in writing before anything starts. If you want to see the steps that follow, read how to apply.
Figures on this page were checked against the IRS and Massachusetts sources listed alongside on October 1, 2026. They change — confirm the current amount before relying on one.
General information for owner-led businesses, not advice for your specific situation. Tax and accounting rules change, and how they apply depends on facts particular to your business. Talk to us — or to another qualified professional — before acting on anything here.
