2006-11-01 00:09:59 · 6 answers · asked by clevemand 1 in Business & Finance ➔ Taxes ➔ United States
3 years.
2006-11-01 01:23:04 · answer #1 · answered by Sam I AM 3 · 0⤊ 0⤋
In the U.S., you can amend your individual income tax return by filing a Form 1040X within three years of the date a particular return was filed, taking into consideration any extensions of time that were granted. For example, if you wanted to amend your 2003 Form 1040 and you filed it on March 4, 2004, you would have until April 15, 2007 to file the Form 1040X. If you received an extension of time to file the return until October 15, 2004, you would have until October 15, 2007 to file the amended return.
If, however, you are only carrying back an net operating loss, you should file a Form 1045 by the end of the year following the year in which the loss arose. For example, if your 2005 Form 1040 showed a net operating loss of $10,000, you would file Form 1045 by December 31, 2006 to carry the loss back to your 2003 and 2004 tax years (2004 only if there wasn't enough income in 2003 to soak up the loss from 2005). You always want to file a Form 1045 if you can, because filing that form doesn't open up the statute of limitations. Filing an amended return does. I'm starting to get into areas that can't be fully explained here, so I would advise you to seek the advice and counsel of a tax professional.
2006-11-01 08:47:25 · answer #2 · answered by jinenglish68 5 · 1⤊ 0⤋
You can amend as far back as you want but remember by amending a return you extend the statute of limitations
(time for them to examine your original & amended returns)
In the US, the general rule is that you can only receive a refund 3 years from the original due date of the return (without extensions). You'ld have to find out if the rule is different if you've already filed but are simply amending your return.
2006-11-01 09:29:01 · answer #3 · answered by goldenboyblue 3 · 1⤊ 0⤋
Three years at most. 2003 is the earliest that you can go back and amend at this time unless you filed older returns within the last two years. If you did that you can amend the older returns also.
2006-11-01 10:16:04 · answer #4 · answered by waggy_33 6 · 0⤊ 0⤋
In the UK, the tax man keeps records for six years.
2006-11-01 08:12:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
LOL - it depends...
How many years do you want to spend in prison ;-)
just kidding, sorry
2006-11-01 08:16:00 · answer #6 · answered by hyper_heather_feather 1 · 0⤊ 1⤋