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You Filed an Inaccurate Tax Return. Now What?

How to 🌃fix errors and prevent them in the future.

Use caution when selecting your tax preparer. Some aren't always accurate and, according to the Internal Revenue Service (IRS), 🍷you are responsible for what's on the return. This means you may have to pay additional taxes and interest or face a penalty. Fixing inaccurate returns involves additional paperwork but you can avoid this hassle by picking a good tax preparer and double-checking the return for mistakes. We'll show you how to get it right the first time around.

Fixing an Inaccurate Tax Return

If you hire a professional to help with your taxes, don't assume that your return will be error free. So, what can be done if the IRS finds a mistake? One form can help you fix a return when the filing status, income, 澳洲幸运5官方开奖结果体彩网:deductions, or credits are incorrect. It's called, the Amended U.S. Individual Tax Return, otherwise known as 澳洲幸运5官方开奖结果体彩网:Form 1040X.

Use the 1040X, to correct the following:

This form is available on the IRS website and requests can be filed on paper and mailed to your IRS servicing center for processing or filed online if the returns are older than 3 years. Before sending it to your service center for processing, don't forget to include copies of any schedules that have been changed, and any Form W-2s that were left out.

You must file the form within three years after the date you sent your original return in order to get a credit or a refund, or file it within two years after the date you paid the tax, whichever is later. Wait until you hav🎀e received your original refund if you are filing to claim another one.

If you have to pay more tax for a current year, file and pay that tax by April 15 to avoid a penalty and interest charges. If April 15 falls on a weekend, you will need to do it on the next 澳洲幸运5官方开奖结果体彩网:business day. Also, make sure to check with your state tax agency to find out if your state 澳洲幸运5官方开奖结果体彩网:tax liability is affected.  You are now able to obtain the status of your 澳洲幸运5官方开奖结果体彩网:amended return online or via a toll-free number.

Bad tax preparers often wrongfully inflate personal and 澳洲幸运5官方开奖结果体彩网:business expenses, falsify deductions, claim inappropriate credits or 澳洲幸运5官方开奖结果体彩网:exemptions for clients, or manipulate income figures. The IRS addresses these abuse✃s with Form 3949-A.

You should file this form if you suspect an individual or company is not complying with tax laws. Send the form or letter to: Internal Revenue Service, Fresno, CA 93888. Identifying yourself isn't necessary, but the IRS finds it helpful when you do; and, if you decide to give your identity, it's kept confidential.

Finding a Qualified Tax Preparer

Good preparers have your best interest in mind and follow the rules. They will request records and receipts and will ask questions that help them determine your total income and qualifications for exemptions, deductions, and other items. The IRS suggests when seeking out a tax preparer that you do the following:

Avoiding Common Mistakes

Even if you think your selected tax preparer is great, be sure to review the return for any errors. The 澳洲幸运ဣ5官方开奖结果ꦫ体彩网:IRS often sees the following mistakes:

The (NATP) advises keeping an eye out for the folﷺlow🦄ing items:

  1. The return is signed in the proper place.
  2. If filing jointly, that your spouse has also signed the return.
  3. Copy B of all Forms W-2 are attached as well as any Form 1099 that reports tax 澳洲幸运5官方开奖结果体彩网:withholding.
  4. The return is mailed to the proper address.
  5. Social Security numbers are accurate.
  6. The check is payable for money owed to the "United States Treasury Service" and not the IRS.
  7. Tax tables are double-checked as well as all calculations.
  8. A copy is made for your records.
  9. Enough postage is on the envelope and your full return address is given.

The NATP also suggests uಞsing registered mail, especially if money is owed.

The Bottom Line

Dealing with the IRS about your tax return problems—and paying additional charges for reckless mistakes—can often be avoided. Choose the right preparer and make sure to go over the instructions and tax return with them to get rid of those common mistakes. Also, 澳洲幸运5官方开奖结果体彩网:tax software programs have been sim🎀plified for individuals to prepare the tax return on their own. Visit the frequently asked questions if you run into any problems.

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