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Massachusetts Form 433-A: What You Should Know
Form 433-A is used for. What is Form 433-A used for? When you have lost your job or your business is in bankruptcy, the income tax penalty (FTA) is not recovered to offset your tax liability or make up any deficiency. But your financial situation might still be stable enough to qualify for this relief from being taxed. You might also qualify for relief from income tax penalties if you: A. Have filed a tax return for the most recent tax year. B. Have used an electronic payment arrangement (EPA) during the income tax year. C. Have paid all taxes due and owing. D. Have paid other state tax, federal tax or social security tax on or before the due date. E. Are still making payments on any tax-sheltered savings accounts. F. Have not used an EPA and are still making or paying all of your taxes. The IRS will then request documentation and your written statement that you have not used an EPA and your income from the most recent tax year. There is no penalty if you do not provide all the documentation and statements. However, even if the IRS determines your situation is not as severe as that which you provided, you will have to settle for less than the maximum allowable relief, if it is offered. (See IRC Sec. 7609 of the Internal Revenue Code.) What are the types of exemptions used? You may qualify for the following exemption types, depending on the nature of your circumstances: Exemptions : In general, there are four types of exemption: 1. Disability, if you are an individual who has a physical or mental condition that substantially limits one or more major life activities (such as walking, reading, concentrating, caring for oneself or performing manual tasks). 2. Family relief exemptions, if you have a spouse, one parent under 18 years of age, or a legally adopted child under 18 with whom you have lived in your household. You can only receive relief for one of those relationships. 3. Health or medical conditions, if the IRS determines that any of the following apply: You are an individual affected by a qualifying medical condition.
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