Amending for credits, deductions etc.

[AZ-Tax]

Am I correct that amending an individual tax return for credits, deduction etc., the TP can only go back 3 tax yrs therefore the TP can go back as far as 2006 tax year if filed to the IRS by 4/15/10?

[Dusty2004]

Correct

Tax return for the year ending 12/31/06 can be amended by 4/15/10. However if an extention was filed they can amend up to the date of the extention or when actually filed.

Dusty

[ChEAr$]

Tax return for the year ending 12/31/06 can be amended by 4/15/10. However if an extention was filed they can amend up to the date of the extention or when actually filed.

Dusty

Any tax return may be amended. Period.

Just because one is so many years old doesn't mean IRS won't process it and file it away.

You're probably thinking about amending for a refund.

[Dusty2004]

Chear - Well said

I stand corrected - I WAS thinking about obtaining a refund. But, in many cases, there are good reasons to amend older returns.

Dusty

[Burke]

Also, if you amend (say) a 2006 tax return which produces an NOL, cannot it be carried back to a closed year?

[ChEAr$]

Also, if you amend (say) a 2006 tax return which produces an NOL, cannot it be carried back to a closed year?

Also correct.