With tax season behind us now is usually the time that important pieces of tax filing information spring up for those who didn’t use Hazzouri Accounting and Tax Services.  Fear not though, it’s not too late to remedy that problem by amending your tax returns.  Keeping reading!

How long can you file an amended tax return?

In general you have to file a Form 1040X within three years from the date that you filed your original tax return.  Or if must be filed within two years of the date you paid the taxes.  An example would be April 10th 2016 for a 2010 return filed on April 10th 2013.  So there is still time!

When should you file an amended tax return?

You can file an amended tax return immediately after your initial tax return was filed.  There are some instances where it is best to wait for a response from the IRS before filing your return. You should schedule a free consultation with Hazzouri Accounting before sending the amendment if you would like some expert CPA advice.  We will make sure that everything is done the right way.

Why would you file an amended tax return?

 
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Amended tax returns are usually filed because of an oversight on the initial tax return.  The oversight can be for additional deductions and tax breaks to receive a larger turn.  It can also be filed to pay off extra income that was missed to avoid fines and penalties from the IRS.

Important IRS information on filing an amended tax return:

The IRS has an information page that deals with filing an amended tax return.  You can read it here:

Ten facts and figures on filing an amended tax return

Let Hazzouri Accounting and Tax Service take the guess work out of filing your amended tax return

We can help!  You may have filed incorrectly the first time but it is not too late to let the professionals solve the problem.  Khaled Hazzouri is a Certified Public Accountant with over 15 years of experience in the field.  If you are looking to file an amended tax return in Michigan call today to schedule an appointment – 734-844-1614.  We look forward to speaking with you.

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Here is a link to an important post on what the new fiscal cliff deal will mean when filing your tax.  Take a look so you know where you stand this coming year:

http://finance.yahoo.com/news/updated-2013-federal-income-tax-124922974.html
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