Ask A Question
Have Tax Questions? Ask a Tax Expert for Answers ASAP
Amended Return Questions
What is an amended return?
return may allow one to file a correction to a
, income or add
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
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?
that may be filing a claim for a
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
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.
Recent Amended Return Questions
I have a client who filed his tax returns incorrectly
I have a client who filed his tax returns incorrectly for 2011 and 2012. We revised his return 6 months ago and send out amended returns. He owed $105,000 and after amended return he actually should get a refund. However, before he came to us, he made an arrangement to pay IRS in monthly payments and after paying $1,100 for three months and stopped paying.
To make the long story short, IRS came back stating that they refuse to accept the amended return (even though IRS agent told us to go ahead and make the corrections and send the amended returns and they will adjust the records). When we ask to appeal, IRS is stating that the taxpayer needs to pay the entire amount and then he will have the right to go to appeal. They advised that we will contact to tax advocate, which we did, however, the tax advocates are stating that they can get involved only if we will appeal... so we are in catch 22... tax advocate wont help because they want us to appeal first and IRS does not allow us to appeal because we need to pay first and there is no way that the taxpayer will be able to pay.
The customer has received a letter from IRS collection department.
The latest letter from IRS was LTR 916C which states the following:
"We are unable to process your claim for the tax period(s) shown above.
The law allows you to file a claim for a refund of taxes you paid. The law doesn't allow you to file a claim to reduce the tax you owe. If you disagree with the amount of tax you owe, you can appeal our decision. TO appeal our decision, you must first pay the tax you owe, then file an amended return with supporting information to claim a refund. We must receive your claim within three years from the date you filed your return or two years from the date you paid your tax. "
The question I have: What can we do to appeal - what appeal form can we use?
what other options do we have (if any). Like I said the total amount is 105K to pay, so there is no way the taxpayer (who is 23 years old student) is in shape to pay.
What have happened, he tried to do his own taxes (taking an advise from his friends), he added all two years of deposits from 2011 and 2012 and put that same amount on both years (2011 and 2012). Please note that he filed his returns in 2012 for both years. The combined deposits for both years were 150K, so he put 150K income for 2011 and 150K for 2012 which got him to the point where he end up owing 105K (with penalties and interest). The issue here is that the deposits he had in his account was not even taxable income (he received money from his insurance company to repair his house because of wind damage - the roof collapsed)... also he had some additional income from car accident. So his actual taxable income for 2011 was 10K and for 2012 was only interest of 875 dollars. And like I said he paid 3 payments of 1100 dollars to IRS already, so as far as we are concerned, there should actually be a refund.
I need detail information - step by step if possible. I never had appeals with IRS, so any tips, directions will be appreciated.
I'm preparing a friends 1065 Partnership Tax return. They
I'm preparing a friends 1065 Partnership Tax return. They said they thought they were going to close the business but never did. The prior year 1065 & K-1's are marked final. Is there a way to file a 1065 for the current year without amending the prior year return?
I divorced in Washington DC in fall of 2013. My ex had
Hi, I divorced in Washington DC in fall of 2013. My ex had taxable income (consulting income not related to his 9-5 salaried job that was completed and earned prior to separation and interest on FICA reimbursement from when he was a medical resident) and
we knew he wouldn't receive payment until after the divorce was finalized. We agreed that the income is marital property to be split. Our agreement addresses these specific income sources and says that he will report them on his tax return and give me 50%
of the after tax portion. However, 1-his tax rate is significantly higher than mine and 2-he is playing games with taxes and deduction such that he is saying that after taxes paid on that income there is (virtually) nothing left to give me. I understand that
I can always file for contempt but I am requesting mediation and would like some tax/legal advice prior to mediation. In concept-is their a way to (re)structure our agreement for these payments such that I report 50% of the gross income on my tax return and
pay taxes and he reports 50% of the gross income on his tax return and pays taxes? Can we restructure this after the fact and file amended tax returns for 2013 and 2014? Thank you
View More Tax Questions
7 Tax Professionals are Online Right Now
Ask Your Own Tax Question
Ask Your Question Now
Ask a Tax question
Type Your Tax Question Here...
7 Tax Professionals are Online Now
In The News
How JustAnswer Works:
Ask an Expert
Get a Professional Answer
Ask Followup Questions
100% Satisfaction Guarantee
Ask a Tax Professional
Get a Professional Answer. 100% Satisfaction Guaranteed.
7 Tax Professionals are Online Now
Type Your Tax Question Here...
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.
Become a Professional
Terms of Service
Privacy & Security
© 2003-2015 JustAnswer LLC