Taxpayers eligible for these benefits can avoid delays or possibly needing to file an amended return
later, by filing after IRS systems have been updated to reflect these changes.
It is common knowledge that a taxpayer can file an amended return
to correct items on a previously filed return.
The taxpayer filed the Year 1 amended return
but not the returns for Years 2 or 3, waiting to see if the amended return
6501(c)(7), gives the IRS an additional 60 days to assess tax if the taxpayer files an amended return
reporting additional tax within 60 days of the end of the limitation period.
When a taxpayer files an amended return
reporting additional tax within 60 days before expiration of the assessment limitation period, Sec.
Self-employed taxpayers who have already filed a return using the higher federal rate do not need to file an amended return
The decision to file an amended return
in such circumstances is uniquely a judgmental one that a lawyer should make only after taking account of all relevant information, including what an amended return
might reveal and how much trouble its filing might create for the client.
The credit applies retroactively to January 1, 2004, so if you paid the special tax last year but didn't claim the credit on your 2004 return, you can still claim it on an amended return
Recipients who already paid tax on benefits received for deaths after the effective date may file an amended return
on Form 1040X, reducing their adjusted gross income by the $3,000 they had reported as taxable.
H&R Block will review prior returns for free, but if an error is found and the taxpayer chooses to file an amended return
, he or she is responsible for all re-filing fees.
It may be to one's advantage, however, to file an amended return
to correct past noncompliance.
In addition, the taxpayer must file with the IRS National Office and/or Ogden, Utah, office a copy of the Form 3115, as required, no later than when the original Form 3115 is filed with the amended return