PitBullTax News

What’s New on Form 433-A in comparison to July 2022 revision:

• More Dependents: The main form now accommodates up to 5 dependents (previously 3). A Supplementary Schedule will only be generated when 6 or more dependents are entered.
• New Income Question: The IRS now asks whether any increase or decrease in income is anticipated. If "Yes," practitioners must provide the expected timing, amount, and an explanation.
• New Passport & Citizenship Questions: Form 433-A now asks:
  • Do you have a United States passport?
  • Do you have dual citizenship?

While the IRS has not explained the reason for these additions, they appear to reflect a broader effort to gather more comprehensive information during Collection Information Statement reviews. These questions may assist Revenue Officers in evaluating future collection potential, international ties, passport certification, and possible foreign assets.

• More Information Fits on the Main Form: The revised PDF now allows:
  • Up to 4 Bank Accounts
  • Up to 4 Investments
  • Up to 4 Digital Assets
  • Up to 4 Credit Cards
  • Up to 3 Real Properties
  • Up to 3 Personal Vehicles
• Real Property: The IRS now requires the names of all title holders in addition to how title is held (joint tenancy, tenancy by the entirety, etc.).
• Business Assets: A new field has been added to identify the names of all title holders for business assets.

What’s New on Form 433-B in comparison to February 2019 revision:

• Digital Assets now have their own dedicated section. They should no longer be reported under Investments.

Client Questionnaire Updated

Both the Individual and Business Client Questionnaires have been updated to include all new questions and fields introduced in the June 2026 revisions of Forms 433-A and 433-B.

Important Reminders

• Seeing an older version of the form? Press Ctrl + F5 to refresh your browser. If necessary, clear your browser cache.
• Collection Financial Standards: The IRS has also updated its Collection Financial Standards. We are currently reviewing the changes and expect to update the standards in PitBullTax within the next day or two. If your client is not facing an immediate filing deadline, you may wish to wait until the new standards are available before submitting a Collection Information Statement.

If you have any questions, please contact our Support Team at 954-748-2855. We're always happy to help!