title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Friday, March 11, 2005
 
Amending Tax Returns

Q:

Mr. Kerstetter,

I came across your blog via a link in "The Cool Tricks and Trinkets Newsletter #341  3/10/2005"

I noticed that you responded to questions in your blog, but did not see how the questions were submitted to you.

I went to your ".org" web site and got your e-mail address there.

I was wondering how long after submitting a tax return has the IRS to review/audit ones return?
I ask this in the context of someone discovering a mistake on a previously submitted tax return and wondering if they should file an amended return of not.

Thx

Rgds,

 

A:

Legally, you have three years after you file an income tax return with IRS to go back and fix any errors.

If you are going to pay them more money, there shouldn't be a problem in filing an amended return (1040X). 

However, if you are asking for a refund, there is a high probability of having IRS conduct a full blown audit on that year's full tax return, not just the items you are changing.   If you go to my blog (www.TaxGuru.net) and type Amended into the search box, you will find several items I've posted about this topic.

Kerry Kerstetter 

 


- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 3/11/2005 04:28:00 PM Send this post:

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