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What if I need to amend a tax return? | Latest News

What if I need to amend a tax return?

OKLAHOMA CITY - You completed your tax return and submitted it on time. But while you thought tax time was behind you, suddenly you realize that you made a mistake on your return. What can you do? Don’t panic: There is a process for amending your return ... read more

How to avoid underpayment tax penalty on bonus, restricted stock

They need to make estimated tax payments to cover the difference ... To reduce or eliminate the penalty, the Koopmans should file an amended 2016 return with the “annualization form,” Luscombe said. For California income tax, the withholding rate ... read more

Amended Tax Returns: Did You File With a Mistake?

Your next move: file an amended tax return. Simply put, an amended return is usually filed because something was incomplete, incorrect or omitted from the original tax return. It should be filed if you forgot to claim credits and deductions, or need to ... read more

What to Do If You Find a Mistake on Your Tax Return

If fixing the mistake would mean a larger refund, the experts say you'll need to determine if any fees you pay a tax preparer to file an amended tax return will offset the extra money coming back to you. On the other hand, if the mistake was an honest ... read more

Ten Tips For Amending Your Tax Return

Here are 10 things you need to know about amended returns. No. 1: Amended returns are NOT mandatory. This may surprise you, but you are not under an affirmative obligation to file an amended tax return. You must file a tax return each year with the IRS if ... read more

Tropical storm season 2017 heats up. It's time to get ready physically, fiscally and tax wise

While you can claim storm losses on your tax return — and possibly amend a filing to get tax relief cash back sooner if the storm is declared a major one — you'll still need to pay some upfront post-hurricane costs. You can find my many previous ... read more

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What You Should Know about Filing Amended Tax Returns

Q: What if I’ve made a mathematical error on the tax return I already submitted? A: Generally, you do not need to file an amended return to correct mathematical errors because the IRS will automatically make such corrections and send you a printed notice. read more
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