If you’ve made a mistake on your taxes or forgot to include something, you can amend your return. Amending your return can help you get the refund you deserve or correct an underpayment. Form 1040-X lets you fix certain errors, claim missed deductions o
There are several things you can do if you receive a notice. Calm down and read it carefully. Not all IRS notices relate to tax audits.
It's that time of year where we have lots of questions about taxes. Today, we talk about how to file an amendment to your 2022 tax return. The good news is it's not hard and it is not a big deal. We also talk about what to do if your tax professional makes a mistake on your...
This puts the IRS on alert to watch for any suspicious tax filings with your social security number and, if a fake tax return is filed in your name, makes it easier for you to dispute it and get it cleared up. While you're on the IRS's website, get a...
Are You Getting a $1,400 IRS Check? Paying down debt, starting or supplementing an emergency fund and using a little for fun are great ways to manage the government stimulus check. Erica SandbergJan. 15, 2025 Financial Hurdles for 20-Somethings ...
Many years ago, I badly screwed up a tax return, and somehow, even though I was making $25,000 a year, it showed that I owed the IRS money! Clearly, the IRS should have known this was a mistake, but they aren’t looking to do any of us a favor. Months later, after I had be...
Didn't you know that the IRS will refund any excess payroll taxes that you paid if you use the 45(B) general business credit? Credit A source of value, distinction or honour. That engineer is a credit to the team. Credit (science fiction) A unit of currency used in a fictional univer...
If you realize after the 2025 tax deadline that you made an error, like forgetting to report some income or missing out on a tax credit, there's no need to panic. You don’t have to redo your entire tax return. Instead, you can fix your mistake by filing an amendment using IRS ...
If you contribute more than you’re allowed to, you’ll owe a 6% penalty each year until you fix the mistake.6 Spousal IRA Exception You cancontribute to a spousal IRAon behalf of a spouse who doesn’t have earned income. To do so, you must have enough earned income to cover both ...
Am I Responsible If My Tax Preparer Makes a Mistake? Yes. If you signed on the bottom line, you are responsible for a mistake on your tax returns and you are on the hook for any penalties the IRS charges. That said, the professional who prepared your return may offer to reimburse you...