What is an Amended Tax Return?
Once you have dropped your original income tax return in the mailbox you can no longer change that return. If you discover an error after filing your tax return, or a mistake in a tax return filed in a previous year, you may need to amend your return by filing Form 1040X: Amended US Individual Income Tax Return. Simple errors in math may be caught by the IRS (Internal Revenue Service) during regular processing of your return, or you may receive a request for certain forms or schedules you left out. In these instances, you should not amend your return. Form 1040X is not to be used if you failed completely to file a tax return in a previous year.
A revised tax filing based on previously submitted tax return(s) to the IRS. The amended tax filing includes adjustments based on previously recorded errors and/or omissions. The IRS releases new tax deductions after the tax season is over. The IRS made over 400 new tax changes in 2002 alone. The IRS allows the taxpayer to take advantage of and apply the new deductions to previous tax filings. Q: I currently have a tax preparer I use. A: The tax review specialists provide you with a FREE Review—giving you peace of mind that your tax preparer is working in your best interest to correctly file your tax returns. According to the IRS, a substantial number of taxpayers are overpaying their taxes. And over half of these tax returns have been prepared by professional accountants or CPAs. Our tax review specialists help ensure that you are not overpaying and—equally important—that your tax preparer is applying all applicable deductions to help reduce your tax liability.
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A revised tax filing based on previously submitted tax return(s) to the IRS. The amended tax filing includes adjustments based on previously recorded errors and/or omissions. The IRS releases new tax deductions after the tax season is over. The IRS made over 400 new tax changes in 2002 alone. The IRS allows the taxpayer to take advantage of and apply the new deductions to previous tax filings.
