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Amended Return Questions

What is an amended return?

An amended tax return may allow one to file a correction to a filing status, income or add deductions or credits missed on one’s original tax return within a time frame set by the IRS. After filing a tax return one may realize they have overlooked a large tax deduction or income that could require them to file an amended tax return. An Expert may have insight in knowing when and how to file an amended tax return that could save you money in penalties that may be assessed by the IRS.

How long does the IRS have to pay a refund on an amended return?

A taxpayer that may be filing a claim for a refund on an amended return must file an amendment within three years of the original refund or within two years if it was an overpayment of tax paid.

When filing an amended return, IRS rules state that they have 12 weeks upon receipt, to process the return. A Taxpayer Advocate Service may be of assistance in processing the return if the return has not been processed within the 12 week period. This may add an additional 4 to 6 weeks in processing a return. Although the IRS may have procedures implemented that allow them to process returns in a timely manner, there is no statutory language that limits the IRS in the processing of an amended return.

Can one file an amended tax return for employee related dining and entertainment expenses that are not filed with the original return?

Internal Revenue Code section 274 has specific requirements regarding deductions related to business meals. All meal expenses are an acceptable deduction when travel requires one to be away from home. Some requirements have been put in place and need to be documented to justify the deduction. Notes made directly to your receipt could allow easy reference. Entertainment within your home area would require that business matters were discussed, who attended in addition to the amount of the receipt. One would need to make reference to any reimbursement received towards these traveling expenses on the amended returns as well.

When filing an amended return does one need to send all forms filed on the original return or just those that have changes?

Understanding how to file an amended return may result in less confusion for the IRS. The IRS may notify one if additional information is required to process their claim. The submission of additional documents may cause a delay in any refund one may be expecting.

Documentation that has no bearing on a refund or underpayment may or may not be required. Notations on the Forms “Attach to your tax return" or "Check this box if this is an original, amended, or supplemental form or attachment to a previously filed return" may help in clarifying your filing status.

How do I get the IRS to remove any penalty and interest due to failure to file an amended tax return in a timely manner?

You may have the right to appeal penalties assessed for failure to file an amended tax return. They often waive penalties and interest associated with small error or oversight. However in the event of a large error; the IRS may need to be convinced that it was a simple oversight. Depending on the penalties assessed and tax owed, one may want to hire a tax attorney. An attorney’s ability to craft a letter with appropriate language and tone, along with his representation may provide a credible influence.

The IRS is making an effort to convert all processing to electronic returns, and to reduce processing times for paper returns. This does not guarantee or set a statute of limitations for a response to an amended return. In the event of large sum is owed they may take a position of tax avoidance and therefor apply a penalty. It may be best to let the Experts handle the IRS when it comes to filing an amended tax return.

Ask a Tax Professional

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: General
Satisfied Customers: 571
Experience:  10 years experience
16356563
Type Your Tax Question Here...
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4 Tax Professionals are Online Now

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Recent Amended Return Questions

  • My mom just received a IRS letter stating she owes $6000 in

    My mom just received a IRS letter stating she owes $6000 in taxes for the year 2012. She said she never received a 1099-B from her bank which she sold all her mutual funds that year.
    She was out of the country for most of the year, so she had already forgotten about selling her mutual fund without the 1099-B. Regardless, the IRS has her mutual funds purchase price as $0 (Actually it is a little over $40,000), so her profit/gain was over $40,000 stated in the IRS letter. (Which is a mistake)
    I'm looking at her statements after digging through piles and piles of statements. Her actually short-term net gain/loss is $39.50 and her long-term net gain/loss is -$706.13.
    She would not owe anymore taxes and in fact the IRS may need to refund more money with the negative loss.
    Is mailing her investment statement along with the written letter explanation enough evidence that she does not owe $6000 in taxes?
  • I build houses on spec, I buy the land, build the house, and

    I build houses on spec, I buy the land, build the house, and sell them. In 2009 I bought two lots, the lots were never conveyed properly and I lost $150,000.00, realized in 2013. How do I deduct the loss? I'm a sole proprietor, and file a schedule C.
  • In a previous question you advised me not to amend my state

    In a previous question you advised me not to amend my state return because the amount I owe is very little. If I don't amend it (and I amended the federal) does that extend the statute for the state to go back and audit it?
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