Amended Tax Returns
To amend something means to change it, and that’s exactly what you do when you file an amended tax return. You change your tax return to reflect new information.
Anytime you need to change your filing status, income, deductions or credits, you will need to file a 1040X amended tax return along with any forms or schedules that you’re changing.
Reason for filing an amended return:
- Your employer made a mistake on your W-2 and had to send you a corrected document
- You used the wrong filing status
- You filed your taxes and then received another W-2 or other income statement
- You missed claiming a credit or deduction you were eligible to receive
Unfortunately, not all tax returns are prepared accurately and some mistakes can lead to overpayment.
When reviewing our client’s self-prepared tax returns, we often find thousands of dollars of unclaimed refunds.
Mistakes
The most common mistakes include:
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Missed credits for education
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Forgotten depreciation expenses of rental property
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Erroneous filing status
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Overlooked tax deductions
Contact us
We offer a FREE second look at any return filed by another tax preparer or yourself. If you are unsure if something was overlooked or miscalculated, we can offer some assurance that everything looks good or point out areas where tax saving deductions were missed. We will help you recover money owed to you by IRS for up to three previous years. Contact us for details.