Law Offices of Connie Yi, PC
California
Estate Planning
& Tax Law
Toll Free: 888-312-6978
Website Navigation Menu

Amending an old tax return

There's something official about filing tax returns that makes them seem set in stone. But tax returns are amendable - and not just by the IRS. Just as the IRS can reach out to you to check on certain details or request certain forms, you can also amend your tax return to better reflect your financial situation.

Why would you amend the return? In some cases, you would do it to avoid the risk of an audit or penalties if you know you made a serious error. But many people amend returns in order to claim a deduction that they forgot or otherwise failed to take advantage of.

Let's say that you bought your first home two years ago and paid a good bit of interest on the mortgage. When you filed the following April, you maybe didn't realize that you could deduct mortgage interest, and overpaid as a result. You could file an amended return to reflect the omission, and would likely be entitled to a refund.

How long do you have? Generally, you must file an amended return (Called a 1040X) within three years of when you filed the original return. If, for some reason, you paid the tax after that time, you would have two years from the date the tax was paid.

Taxes can be complicated, especially when trying to dig up records from several years ago. Therefore, you might find it beneficial to work with a tax professional such as a certified public accountant. And of course, if you find yourself facing an audit or other scrutiny from the IRS, please seek the help of an experienced tax law attorney.

No Comments

Leave a comment
Comment Information

Contact Us Now to begin your initial consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

FindLaw Network

Office Locations

Law Offices of Connie Yi, PC
490 Post Street, Suite 508
San Francisco, CA 94102
Phone: 415-433-3350
Toll Free: 888-312-6978
Map and Directions

Additional Office Locations:
Pleasanton
323 Ray Street
Pleasanton, CA 94566
Phone: 925-484-0888 
Pleasanton Law Office Map

San Mateo
1900 S. Norfolk Street, Suite 350
San Mateo, CA 94403
Phone: 415-433-3350
Map and Directions

Sunnyvale
1250 Oakmead Pkwy, Suite 210 
Sunnyvale, CA 94085 
Phone: 888-312-6978 
Map and Directions