Taxpayer has a refund even without the FTHB credit. Is it a good idea for him to first e-file the tax return without the FTHB credit so he can get the regular refund much faster. And then amend the tax return later to apply for the FTHB crdit? I am thinking that if he applies for the FTHB credit in the same return, it will delay his regular refund too. Any potential drawbacks to this idea?
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Your client will have to make a choice between having part of the refund faster and pay you for an amended tax return, or wait for all of the money and pay only for one tax return. If you don't charge for the amended I don't see any drawback. -
I had a client with this situation.
We decided to have her wait for the entire refund since the smaller refund wasn't that much. Perhaps, give the customer the choice. I would have charged for an amended. The customer knew this.
PeachieComment
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The two I did in the same circumstances, we E-filed the original and then I prepared the Amendment and gave them to mail in immediately. I didn't charge extra. Took a few minutes and just good PR for me, plus I'm just a soft hearted tax preparer. Trying to keep my cusomters happy. Most of them appreciate it and send me referrals. One had a fairly large refund and the other just a few hundred but that few hundred meant as much to her as the few thousand to the other customer.Comment
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I'm with Peachie & Harlan- have amended some for FTHB and charged for orig & amended.Comment
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