i recently filed my taxes in early january in TX and noticed i had over reported my income, i was told by my tax acct to let it go once the irs gets the final w2 they will make the adjustment and send the necessary refund, is this true or should i do an ammendment?
2007-06-07 04:39:19 · 6 answers · asked by dbslove34 1 in Business & Finance ➔ Taxes ➔ United States
I have noticed over the years that if you owe the IRS money they are on you like cheap on a rug. However, if they owe you money they wait until hell freezes over to get it to you. It is simple to fill out a form 1040X and get your money. If they wait past the three year deadline they get to keep it.
2007-06-07 08:17:55 · answer #1 · answered by acmeraven 7 · 0⤊ 0⤋
Do the amendment. It IRS are currently doing those adjustments of 2005, why wait over a year.
2007-06-07 04:46:14 · answer #2 · answered by ? 6 · 0⤊ 0⤋
If you filed in January then you should have heard from the IRS by now if they caught the error. I would suggest you go ahead and file an amendment.
2007-06-07 04:46:01 · answer #3 · answered by angela 6 · 1⤊ 0⤋
Just wait for the refund, it will not take over a year for the IRS to do the adjusment. Believe me, I've seen it with past taxpayers.
2007-06-07 11:25:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You should do an amendment.
If you had UNDERreported your income, they'd definitely make the adjustment, and might on an overreported income also - but even if they do, could take a year or two.
File an amended return.
2007-06-07 05:01:47 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
yes it is true but i would do an ammendment just to be on the safe side.
2007-06-07 04:43:00 · answer #6 · answered by tlclay3 2 · 0⤊ 2⤋