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Accounting/Tax Question. My accountant filed C-Corp tax

Accounting/Tax Question. My accountant filed C-Corp...
Accounting/Tax Question.
My accountant filed C-Corp tax returns for me for 2015 (Form 1120) indicating income of $300k. Neither she nor I noticed that there was an error in reported income (1099-K forms - we only take credit cards - indicate actual income of $340k). The IRS has sent form/letter 2030 asking for additional $5,500 in tax payments). However, that difference of $40K in income was not a "pure" income likely. So is it better to simply pay IRS the $5.5k or file amended tax return? I really would like to avoid having problems with IRS and I will also likely change accountants. Thank you.
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Answered in 1 minute by:
7/3/2017
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,408
Experience: Certified Public Accountant
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Hi, my name is Mark. I will be happy to help you with your questions. You should file an amended return to report the correct income and expenses.

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An amended return not uncommon and would not place you at greater audit risk from the IRS. It is just correcting an error.

Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,408
Experience: Certified Public Accountant
Verified
Mark Taylor and 87 other Tax Specialists are ready to help you
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Customer reply replied 11 months ago
Hi Mark, so you believe it is better to file amended tax return and not just pay them $5.5k and be done with it?
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