{"id":30342,"date":"2017-10-25T17:23:13","date_gmt":"2017-10-25T22:23:13","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/?p=30342"},"modified":"2018-05-02T13:31:57","modified_gmt":"2018-05-02T18:31:57","slug":"tax-dictionary-ability-pay-business","status":"publish","type":"post","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-ability-pay-business\/","title":{"rendered":"Ability to Pay &#8211; Business"},"content":{"rendered":"<h2>IRS Definition<\/h2>\n<p>Form 433B, <em>Collection Information Statement for Businesses<\/em> helps the IRS calculate a business\u2019 ability to pay its tax debt. If in-business taxpayers can fully pay liabilities from current assets and\/or income they do not qualify for installment agreements. Full payment will be requested.<\/p>\n<h2>More from H&amp;R Block<\/h2>\n<p>If your business does not qualify for a streamlined or in-business trust fund express installment agreement, the IRS will require that you complete a Form 433-B, <em>Collection Information Statement for Businesses<\/em>. The form requires that you list all of the business\u2019 assets, income and expenses. The IRS will first look at the business\u2019 ability to pay the tax debt in full by selling any assets that are not necessary for the production of income. Then they will look at the monthly net profit to determine the monthly payment the business will be able to make and stay current with operating expenses and tax payments including payroll taxes, if applicable.<\/p>\n<p><a href=\"https:\/\/www.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/cant-pay-business-taxes\/\">Learn more about how to handle an IRS tax bill.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IRS Definition Form 433B, Collection Information Statement for Businesses helps the IRS calculate a business\u2019 ability to pay its tax debt. If in-business taxpayers can fully pay liabilities from current assets and\/or income they do not qualify for installment agreements. Full payment will be requested. More from H&amp;R Block If your business does not qualify [&hellip;]<\/p>\n","protected":false},"author":605,"featured_media":26212,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,51],"tags":[],"class_list":["post-30342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irs","category-audits-and-tax-notices"],"acf":[],"yoast_head":"<title>Tax Dictionary - Ability to Pay - Business | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"To set up an installment agreement for your business, the IRS may need to determine your business&#039; ability to pay. 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