HRBlock made LG error on my return, but says I have to wait til IRS finds it to do amendment. Is that correct?

Question

Went to HRBlock for 2006 taxes. They made an error and said I didn't have to pay taxes on an early IRA disbursement.(YIKES) I had them review it, and different "tax-pro" admitted the error. They say I have to wait until IRS finds the mistake & sends me a letter; or finds it & fixes it & sends me a letter; or completes my return w/out finding the error. Shouldn't we send in an amended form NOW instead of waiting?? They have me getting a large refund, which is wrong. Now my CT state return is wrong, and so are my kids' FAFSA's. I think HRBlock also made a mistake using the HOPE Credit, and on one of my deductions.

Answer 1

You should file the amended return before April 17th. If you do not and you end up owing the IRS they will assess fines and penalties, which H&R Block would pay because it was their error (check out their standard guarantee), but I would not let it get to that. You need to file the amended return and take care of it now. What they PROBABLY meant to say was that they should wait a until the IRS accepts your return so that the amended return does not confuse the IRS. They have processed amended returns before the original sometimes (prior experience) if the amended return was sent in RIGHT after the original was submitted.

What I would suggest is get the amended return done by H&R Block right of way, free of charge of course, and hold off on mailing it until later in the tax season BUT BEFORE the filing deadline of April 17th.

Good luck.

Answer 2

You should wait until you get your refund or you'll end up confusing things with your return at the IRS. But you should NOT wait until they find it and contact you - that could take months, or even a year or more, with interest building all that time. As soon as you get your refund, you should file an amended return correcting the errors. H&R should do this at no charge, since they are the ones who messed it up. And ask for somebody OTHER THAN the person who did it in the first place.

Put the refund in the bank and don't spend it - you'll likely be sending some of it back with the amended return.

You'll also have to amend your CT return.

As to the HOPE credit, you can only take that for two tax years at the most for each child, and then only if they are in their first two years of post-secondary education. To clarify, if a child is still a sophomore in college but is in their third year at school, maybe they just went part-time for awhile, you could still take it as long as you hadn't taken the HOPE credit for that child in two prior years.

Answer 3

I am an IRS agent.

File the amended return now!

It might be a good idea to not cash the check. Hold on to it and if the IRS tries to assert penalties and interest you can return the uncashed check and you might have a stronger defence against them.

If they do charge you penalties go straight to H & R Block and let them pay or deal with the penalties.

If you don't cash the check you should be able to get out of the interest charged. I would not just quickly agree with the IRS on this. I would appeal it to a higher level.

Answer 4

You need to file an ammended return immediately, prior to April 17,2007, and pay any additional taxes due to avoid any penalties.

Ask to speak to he general manager at the Block office. What the idiot preparer told you is simply wrong.

You might want to wait until you have the refund in hand first so you'll have enough money to pay the additional tax, but you MUST amend the return before April 17, 2007

Answer 5

I would insist on an amended return filing before IRS slaps you with penalties and interest.
The HOPE credit for education and any other corrections (such as your your IRA disbursement) can all be amended at the same time.
My daughter also had an error with her education and learning credit and she took it back to and they amended the return and since it was their error, she did not have to pay for the amended return.

Answer 6

i did not wait until marriage. i think this is a private selection, and that i desperate to not. I waited until i became into 18. yet i've got in no way heard of absolutely everyone that waited until marriage and regretted it. As for not understanding what you're doing, i think of intercourse is an instinctive act, and could come clearly to you (or every physique else) whilst the time is nice.

Answer 7

Send the corrections in as soon as you find them.

Answer 8

yes file the amendments now.