Welcome to Law-Forums.org!   

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Oic

Discuss anything to do with property law - buying, selling property

Oic

Postby Dinsmore » Wed Dec 07, 2016 2:12 am

s About Taxes)/OIC Advertisement Expert: Mike Wellman - 8/19/2012 When completing the form 433A-OIC which includes a non-liable spouse, do you have to adjust(allocate) the monthly household expenses that are included on lines 41-53 or does the IRS do that calculation based on allocating the taxpayer and spouse income? Also, if the non-liable spouse is self-employed, do you show their net income on line 36, and if so, how do you indicate that it belongs to the spouse and not you?(or does that matter.

I cannot find instructions anywhere on completing the 433A, just the form and what goes on each line, but not how to make any calculations if needed. Do any such instructions exist?
Dinsmore
 
Posts: 45
Joined: Wed Jan 22, 2014 4:58 pm

Oic

Postby Chike » Wed Dec 07, 2016 8:01 am

s About Taxes)/OIC Advertisement Expert: Mike Wellman - 8/19/2012 When completing the form 433A-OIC which includes a non-liable spouse, do you have to adjust(allocate) the monthly household expenses that are included on lines 41-53 or does the IRS do that calculation based on allocating the taxpayer and spouse income? Also, if the non-liable spouse is self-employed, do you show their net income on line 36, and if so, how do you indicate that it belongs to the spouse and not you?(or does that matter.

I cannot find instructions anywhere on completing the 433A, just the form and what goes on each line, but not how to make any calculations if needed. Do any such instructions exist?
Chike
 
Posts: 42
Joined: Mon Feb 10, 2014 3:00 am

Oic

Postby Lonnell » Wed Dec 07, 2016 8:52 pm

Completing a 433-A is not a simple math problem. It is as much an art as anything else. Cases of a non-liable spouse demonstrate this dramatically. In some cases, we might take total household income less total household expenses. In others we may exclude non-liable spouse income and allocate those expenses that do not clearly belong to the spouse. How the expenses get allocated is another area where being creative and experienced is helpful. There is more than one way to allocate expenses. An then there is the community property issue in certain states!

In short, it is hard to tell you how to complete YOUR 433-A without an analysis of your specific situation. There is no "one way" it can be done. I just look at all the facts and prepare it in the best interest of the client, knowing what I can argue about(get away with) and what I can't. As far as I know, the only instructions available are the ones the IRS provides on the website. I know this sounds like one of those "You need to hire a professional" type answers and I hate that it is. If you had a simple situation and gave specific facts, perhaps I could help in this forum. But you are not in a simple situation.
Lonnell
 
Posts: 33
Joined: Thu Feb 27, 2014 10:44 pm


Return to Property Law

cron