From time to time, we all need a “do over” – even when it comes to our tax returns. Fortunately, if you’ve made a mistake on your original return or missed claiming a deduction or credit, the IRS has a solution. It’s called Form 1040X, Amended U.S. Individual Income Tax Return.
Have you ever lost money to a loan you’ll never collect? If you answered yes, the good news is you’re not alone. Many of us have lent money to a friend or relative at some point. And while initially the intent may be have been good, there are times when things don’t go according to […]
No matter how carefully you gather the information for your income tax return, sometimes you find something after you file that should have been included. Perhaps you remember you spent money on energy saving equipment for which you should have received a credit. Or, you received a Form 1099-MISC and forgot to enter the income […]
Everybody makes mistakes – there are no exceptions. If you discover an error or something you missed on your return after you filed it, don’t panic. Fortunately, most mistakes in life can be fixed, and your tax return is no exception.
It happens. Just when you think tax season is over and you can forget it, you discover a mistake or omission on your income tax return. You probably need to fix it by filing an amended return with the IRS. When to file an amended return You should file an amended return whenever you discover […]