Discussion:Amending Returns/ the ? is how many times?
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Discussion Forum Index --> Tax Questions --> Amending Returns/ the ? is how many times?
| 20 February 2007 | |
| Have a new client we prepared original return and filed. She brought in a 1099DIV w/total and qualified of amounts of $178 (box 1a & 1b) along w/ $1185 Total Cap Gain Dist (box 2a), so, we amended 2006 return. Then a couple of days later she walks in w/another 1099DIV-- box 1a) $38 and box 2a) $38. So, the million dollar ? is do "we" provide an amended return w/this amount? | |
NANCYSHOEMAKE (talk|edits) said: | 20 February 2007 |
| I would wait another month to see if she has anymore discrepancies. However the tax implication of $38 would not probably show a tax liability adjustment. | |
| 20 February 2007 | |
| I've doing a few amended returns for the same year, I 'heard' somewhere that 4 was the limit, but of course I never saw any # on a publication by the IRS, ill start digging now | |
| February 21, 2007 | |
| I've never heard of a limit on amended returns, but I probably wouldn't amend again for $38 in income. You should wait until she brings in another form or two. | |
| 21 February 2007 | |
| You could amend 100 times if you wanted, but at some point, the IRS looks askance at such cases and your client gets audited.
I'd say it was frivolous to amend for a $38 dividend, as the tax difference is so small. In the future, ask for a copy of the previous year's return when you see new clients. The old year's return (hopefully) has all her last year's income, and you can compare that with this year's. I agree with DeBack and Nancy Shoemaker. Let her keep bringing in slips over the course of the rest of the year; and closer to April 15th make your amended returns. | |
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