Amending Time Frame

[AZ-Tax]

From the IRS website:

"Generally, you must file Form 1040X within three years from the date you filed your original return or within two years from the date you paid the tax, whichever is later, to claim a refund"

So I understand this correctly. If a taxpayer wants to amend thier 2005 tax return that was filed in Oct 1, 2006, they still have till Sept 2009 to file the 1040X for 2005?

[SueBaby]

From the IRS website:

"Generally, you must file Form 1040X within three years from the date you filed your original return or within two years from the date you paid the tax, whichever is later, to claim a refund"

So I understand this correctly. If a taxpayer wants to amend thier 2005 tax return that was filed in Oct 1, 2006, they still have till Sept 2009 to file the 1040X for 2005?

I had this same problem and called the IRS and they told me on April 15 at midnight was the cut off date for amending the back 3 years (05). I did anyway and they got a letter refusing it because of being late.

[BHoffman]

TP's prior preparer was caught by the State for preparing fraudulent tax returns. Client wanted to amend federal return past the 3 year SOL date. I prepared the amended return that showed more tax due. Client filed the 1040X with payment. The IRS sent letter stating that they could not accept the payment because the 3 years had passed.

Now what should we do?

Thanks for any advice.

[Davc]

TP's prior preparer was caught by the State for preparing fraudulent tax returns. Client wanted to amend federal return past the 3 year SOL date. I prepared the amended return that showed more tax due. Client filed the 1040X with payment. The IRS sent letter stating that they could not accept the payment because the 3 years had passed.

Now what should we do?

Thanks for any advice.

If he feels guilty keeping the money he may make a contribution to reduce the public debt. See the 1040 instructions.

[BHoffman]

He's a firm believer that guilt is an unproductive emotion. Thanks!

[JG EA]

TP's prior preparer was caught by the State for preparing fraudulent tax returns. Client wanted to amend federal return past the 3 year SOL date. I prepared the amended return that showed more tax due. Client filed the 1040X with payment. The IRS sent letter stating that they could not accept the payment because the 3 years had passed.

Now what should we do?

Thanks for any advice.

Is this true? It doesn't seem possible. What if a client for instance 4 years ago didn't report a sale and that made them recieve EIC. If they amend for the sale (because they sold it on an installment sale say) you mean to tell me that the IRS won't take the money back?