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| *Loan,banking and credit>>>tax refund |
Can I get a tax refund if I correct my tax information? |
I filed my 2006 tax by April and this week found out that I probably didn't get my tax info entered right in Turbox Tax, ending up paying over $1000 in tax. Is there any chance I could correct the information and get a refund? If you are sure that you entered the wrong information onto your tax return and you have the documents to prove this, you can go back into your return in theTurbo Tax program, open the forms (choose "Open All Forms"), find the 1040X Form. This is the form to Amend your return. All of the originally filed information will be already on the form. All you have to do is enter the correct information, click on "Recalculate," type a reason for the change, and staple the document of proof to the back of the form. Save a copy under a new name (File/Save As on the menu). You will mail this form to the address listed below for your location: IF you live in: THEN use this address: ------------------------------... Alabama, Delaware, Florida, Georgia, North Carolina, Rhode - Atlanta, GA 39901 Island, South Carolina, Virginia ------------------------------... Alaska, Arizona, California, Colorado, Hawaii, Idaho, Minnesota, Montana, Nebraska, - Fresno, CA 93888-0422 Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming ------------------------------... District of Columbia, Maine, Maryland, Massachusetts, New - Andover, MA 05501 Hampshire, New York, Vermont ------------------------------... Arkansas, Connecticut, Illinois, Indiana, Iowa, Kentucky (if filing after June 30, 2007), Michigan, - Kansas City, MO 64999 Missouri, New Jersey, Ohio, Pennsylvania (if filing after June 30, 2007), Wisconsin ------------------------------... Kentucky (if filing before July 1, 2007), Pennsylvania (if filing - Philadelphia, PA 19255 before July 1, 2007) ------------------------------... Kansas, Louisiana, Mississippi, Oklahoma, Tennessee, Texas, - Austin, TX 73301 West Virginia, APO, FPO yes...!!! take it to a tax specialist.. i know you probably don't want to pay the fee for having them look over it.. but it might just get you some money that you probably wouldn't have gotten i would recommend hr block if they screw up your return then you don't have to pay hr block anything Yes, you can file an amended return. It may cost you to refile, but if you tax information was not correct, you are required to fix it. Otherwise, you might get audited A couple of things, if you screw up and pay too much taxes the IRS doesn't care and they have no problem with you paying too much. There is no penalty for overpayment. You have three years, until 2010 to file an amended return to get a refund. At this point don't try to fix it yourself. Shop around and see how much it would cost for qualified tax preparer to file an amended return. I don' think you should pay more than $200 and maybe find someone who will do it for closer to a $100. Can I get a tax refund if I correct my tax information? The correct answer is maybe. And Milch gave a good explanation on how to correct this using your current Turbo Tax software. Depending on the type of error, your bottom line may not be affected. Something that is common with non-professionial filers. I assume you are aware that not all Turbo Tax software programs are equal, some are very limited in what you can do--and do not include all schedules. It appears you have a good concept on where the error occured and how to correct it, so I hate to sugguest you seek a professionial on this issue. Just make sure that you write a reasonable explantion for the error on the 1040X form. And when you send the required copy of the orginal return MAKE SURE YOU WRITE ON THE RETURN --ADMENDED RETURN --make sure it is on each page. Also, be careful when you read the instructions on any tax software program, take your time and double check your entries. Also, beware that you can not change your filing status from married filing joint to married filing separate. It is very important that you mail the return certified with a return address card. Believe me when I say these returns are the most often misplaced/lost returns. I have prepared hundreds of admended returns and probably over 40% have to be refiled --because the IRS "did not get the return" . I wish you the best. CPA |
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