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Marvin,EA, Enrolled Agent
Category: Tax
Satisfied Customers: 1672
Experience:  Enrolled to Represent Taxpayers Before The IRS
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If I made a bad math mistake(too large a deduction) on a return

Resolved Question:

If I made a bad math mistake(too large a deduction) on a return filed 3 days ago, how hard is it to correct the mistake.
Submitted: 8 years ago.
Category: Tax
Expert:  Marvin,EA replied 8 years ago.
Hello and thank you for using Just Answer. Was the mistake on the return you filed 3 days ago for tax year 2007?
Customer: replied 8 years ago.

Yes-for 2007-
Expert:  Marvin,EA replied 8 years ago.
You must wait until the IRS process the return before you can make any changes. If the return was e-file it take about 3 weeks before you can make changes to the return. If the return was send by mail it could take about 4 to 8 weeks before the IRS process the return. To make the changes your 2007 tax return you must file Form 1040X ( You can check the statue of your 2007 tax return by calling the IRS at(NNN) NNN-NNNNor and click on "where my refund".
Customer: replied 8 years ago.
My worry is being in trouble---if the mistake causes an audit-(which is why I wanted to change it before a possible aduit)--is it at that time form 1040x is filed--
Expert:  Marvin,EA replied 8 years ago.
What was the mistake made on the 2007 tax return?
Customer: replied 8 years ago.

TOOOO much $ for professional deductions ( classes-conferances-supplies)--that is it.
Expert:  Marvin,EA replied 8 years ago.
You should not have a problem with a audit if you file the 1040X to correct the mistake on the 2007 tax return as soon as possible. You should also know if the change in the amended tax return increase your taxes due the IRS will charge interest and penalty on the taxes due from 1 January 2007. The amount of interest on the tax due and penalty are compounded daily.
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Customer: replied 8 years ago.
Thank you very much-------Please send me a phone number to([email protected]) to make arrangements to pay---- have just tried to do on line-but-the card used before was stolen and I am at work with out my wallet.-----------------Great service--thank you again.
Or Please send info so I [email protected]