I forgot to include some money I made when I did my taxes. They took out a lot of tax on what I made and I think I should get more money back. I believe the mistake would give me a bigger return if I fix it.
2007-02-21 06:49:18 · 12 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
You must file an Amended Return, Form 1040X
This needs to be mailed in, it takes 8 to 12 weeks to process and if you have a refund coming from the 1040X it will be mailed to you, direct deposit is not an option with an Amended Return
DO NOT SEND A COPY OF THE ORIGINAL RETURN, only send the 1040X and any forms that apply to the changes.. They already have the original return.
You can get the form from the IRS website
http://www.irs.gov/pub/irs-pdf/f1040x.pd...
2007-02-21 08:02:33 · answer #1 · answered by Anonymous · 1⤊ 2⤋
You MUST file an amended return on Form 1040X. If any tax is due, you must do that by April 17, 2007. Most of the time, forgetting a W2 will result in a tax balance due so hang on to your refund until you've filed the amended return.
2007-02-21 08:44:34 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 1⤋
You fix it by filing an amended return on a form 1040X. The easiest way to do that is to prepare another return with the correct info, then lay that side by side with the original return while you're filling out the 1040X.
2007-02-21 08:35:33 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
The form you need to fill out is file 1040X if you think you are going to get a refund from the amendment. Even if you wind up having to pay tax on those wages, I would still file an amended return because the IRS might impose late fees and penalties on you, which turns into an even bigger headache if you get audited.
2007-02-21 07:15:42 · answer #4 · answered by Paul A 2 · 0⤊ 3⤋
You can file an amended return up until the deadline. You don't need a tax professional. Go to the IRS website for forms, or use one of the software programs. And good luck on the bigger refund! :-)
2007-02-21 06:57:00 · answer #5 · answered by Enchanted 7 · 1⤊ 2⤋
Amend the return on Form 1040X.
I would highly suggest you have a tax practitioner or HR Block prepare it for you. Amended returns require certain attachments that must be filled out
properly for the IRS to process it. Without knowledge of this - your refund
will be delayed.
The cost of an amended return is about the same as an original return.
Cover your yourself by contacting a professional to do it for you.
2007-02-21 07:41:52 · answer #6 · answered by bold4bs 4 · 0⤊ 3⤋
Form 1040X - you indicate the changes. Include a copy of the return AS FILED and a copy of the return AS AMENDED. It's not as scary as it sounds. DON'T LISTEN TO "ROB" THEY ARE WRONG!!!!
You can do it yourself.
DON'T GO TO H&R BLOCK - they will probably mess things up. Their preparers are not taught some of the basics -- information is "beyond the scope of this course" is in the textbook in numerous areas. They hire people that FLUNK the final. I have heard numerous horror stories from FORMER Block clients!
2007-02-21 07:16:48 · answer #7 · answered by Dizney 5 · 0⤊ 2⤋
Go to www.irs.gov and print out an amended return. It's pretty self explanatory. Good Luck!
2007-02-21 06:57:46 · answer #8 · answered by Bets 1 · 1⤊ 0⤋
File an amended return. Any tax professional can do it.
2007-02-21 06:55:15 · answer #9 · answered by Zygai 3 · 0⤊ 2⤋
yep, file an amended return. Keep all of you forms, even the orginal ones you messed up.
2007-02-21 06:57:47 · answer #10 · answered by Anonymous · 1⤊ 2⤋