Doing my taxes last minute - and have a question

[Duer 157099]

I just noticed that I messed up last year's return (I screwed myself!) and now I need to dig up several years returns to see how long I've been messing up.

So question is: how long do I have to amend a return?

Thanks

[sagetea]

1. Jesus tit's man,

are you a procrastinator or what?

[Duer 157099]

4. Um... yes?

That should be obvious

:rofl:

[elleng]

12. Its perfectly fine!

No need to take offense from some compulsive.

[underpants]

2. Depends on what you are amending it for

mostly the rule is 3 years but if it worthless stock it is 5 years and there are some things that can cause amendments up to 7 years.

File this year's and then call the IRS or you Dept. of Tax they may be able to help you...for free

[Duer 157099]

7. I cannot frikken believe I did this

Forgot to take the child tax credit! It's like $1k!!

Unfrikkenbelievable. I have no idea what I was thinking when I did that.

Guess rushing through it on the last day will cause this sort of thing...

[TahitiNut]

10. Just file amended returns for the last 3 years, making the correction.`

At one time (in the Dark Ages), you'd get the refund of the mistaken overpayment ... PLUS interest. Be sure to note "AMENDED RETURN" at the top of the Form 1040.

:shrug: No big deal

[Duer 157099]

13. LOL, yeah, that's what I thought (they usually catch things)

In fact, I need to check my paperwork to make sure that isn't what happened. I have noticed they catch errors so easily that I stopped worrying too much myself about making errors

[pansypoo53219]

21. i think the tax person on NPR said,

you can get the credit for as long as you screwed up. no interest tho i think.

[Statistical]

22. You have 3 years. Need to file a 1040X

If possible include copy of original 1040 for each year.

Anything older than 4 years = bad news you lost it.

The plus side you helped reduce national debt a tiny bit.


Just to be clear the form is "1040X".

[janx]

3. Ask the IRS.

It will be more than happy to assist you. :eyes:

[slackmaster]

5. That's why I pay a professional to do mine

It cost me $150 this year, and I consider it worth every penny.

[rfranklin]

6. Three years

[Duer 157099]

8. So, does that mean 2005, 2006 and 2007 can still be amended?

I have to see if I've done this for any year besides 2007

[rfranklin]

15. 2005 is due today

[Duer 157099]

17. Thanks. Then that's the one I need to focus on right now! n/t

[willing dwarf]

9. I'd fie for an extension and then get someone to do an ammended return

later

[Duer 157099]

11. Extension for this year?

I didn't make the error on this one (2008). It was for 2007 and possibly prior years.

[elleng]

14. Don't worry about ANY of this!

They'll be happy to see you're trying!

[Duer 157099]

16. Honestly, every dealing I've had with the IRS

I mean via phone, has been extremely helpful and pleasant. And I tell them so, whenever it happens.

Hey, just because we hate paying taxes doesn't mean the folks at the IRS are to blame, personally.

[elleng]

19. Right. Glad to hear it.

They're people, after all.

[TahitiNut]

20. Well ...

... I don't know if I'd go that far.


:silly:

[quiller4]

18. I second that. File a request for an automatic extension.

Then make an appointment with the tax specialist at a local CPA firm. From the IRS instructions:
Generally, to claim a refund, Form 1040X must be filed within 3 years from the date of your original return or within 2 years from the date you paid the tax, whichever is later.

A CPA would know under what circumstances you could go back further than the normal three years.

[mdavies013]

23. Next time use TaxAct - $18 e-files state and federal return with direct deposit for refunds