Amended Returns

[superman]

HAVE any of you done alot of amended returns this year. I just had my 5th call so far this year for someone that just noe recieved some items late. This is by far the most I have ever recieved this early in the year. Maybe because it seemed so many people were anxious to get their returns done so early this year.

Would you charge for these amended returns? If so how much? I was thinking half of the original cost but I do not know if that is in line.

Superman

[bgiez]

I have only done one 1040X this year for the reason you asked about. My charge is $45 + any additional forms and schedules not used in the original filing.

[luke]

absolutely

charge them for amended returns - I charge min $75...

[oceanlovin'ea]

I charge $50 base fee and more if it is very involved.

Linda, EA

[dkss]

I charge $40 to amend both state and federal, plus additional fees for additional forms. Looks like I might need to bump my base rate, it's been that rate for at least 10 years!

[Jiggers]

I charge by the time it takes.

Some amended returns can be handled in a few minutes.

Some are more complicated.

[Peachie]

My charge is along the lines

of Linda. My base is $50 plus any additional forms. I remind my clients not to consider filing returns until the second week in February and I still have an amended to do fo a 199-misc.

[FEDUKE404]

Charge in most cases

I definitely charge for amended returns, unless the reason is to correct an error that can legitimately be considered my own. I do somewhat take the approach of Jiggers that some returns can be "repaired" fairly easily, so I will be kind on the rates. (If I did the original return, a few mouse clicks frequently can fix everything fairly quickly leaving only "the reason" as a challenge.) But OTOH, if someone just "finds" a forgotten W2 or something in late March, I am not quite as compassionate.

As a matter of principle, I tell all of my clients with any type of investment/brokerage accounts to please wait a while to file, or at least get some notification from their broker that "new information" is unlikely to be on the way.

It is now a very common occurrence for "updated" Forms 1099-DIV to show up, often as late as mid-March, especially for those who own REITs and other off-the-wall stuff where the income can be "reclassified." A client, whose return is on hold, called me today to advise he just received a "newer version" from his stockbroker.

My approach is it is always better to wait than to amend........

FE