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Why Amend Your Taxes?
What is an amendment?
An amendment of a personal (or business) tax return is simply a correction to a filed return. Even with the technology today, forms necessary to complete tax returns seem to come out later and later.
Many people rely (not good!) on their tax refund to pay big bills like real estate taxes and need their refunds fast. This is why tax preparation companies love tax season. They charge premium rates to get your refund fast.
Therefore, people either estimate or omit information just to get the refund. Then they fix (or amend) later.
Other reasons are a person feels that they did not get all of the deductions for their home based business or tax credits that they were eligible for.
How Do You Complete One?
You have three years from the due date of the original return to file and amendment. So, if you were to file an amendment for the 2012 tax year, you have up until April 15, 2016 to file it.
You would use form 1040X. It is very simply a "before" and "after" summary of your taxes.
You must attach all forms and schedules that have been affected along with a summary of why you are filing the amendment.
You mail it to the same address as your original 1040 and it takes usually 6-8 weeks to process.
Why Am I Writing This?
I happen to deal with home based business people and have been doing their taxes for over 30 years. In that time, I have done hundreds of amended returns.
My mission is to get the most I can, within the .limits of the IRS rules, for home based business owners. I am not here to discount other preparers or make them look bad. I simply have the years of experience in preparing these returns as well as personal experience in owning similar businesses.
Just in the last two months, I have been able to get over $3,000 back from the IRS between two of my clients. There is a longer list on my website.
Below is a snapshot of a refund check recently received.
How Can I Get Money?
I offer a review service for people with home based businesses. Like I said before, I am very successful in finding additional deductions that were either overlooked or missed.
You can go to my website and order a review of your return. Remember, you can amend three years of returns!
Remember this, it is your money and you can use it better than the government!