Discussion:Amendment needed?
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| Revision as of 21:45, 28 October 2009 MWPXYZ (Talk | contribs) (I wonder what th) ← Previous diff |
Current revision Irsfixer (Talk | contribs) (The IRS will mat) |
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| {{ForumReplyPost|UserID=MWPXYZ|Date=28 October 2009|Text=I wonder what the IRS wil say.}} | {{ForumReplyPost|UserID=MWPXYZ|Date=28 October 2009|Text=I wonder what the IRS wil say.}} | ||
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| + | {{ForumReplyPost|UserID=Irsfixer|Date=28 October 2009|Text=The IRS will match the K-1 with the return and do a pro forma calculation. If it shows no tax - you will not get a notice.}} | ||
Current revision
Discussion Forum Index --> Basic Tax Questions --> Amendment needed?
Discussion Forum Index --> Tax Questions --> Amendment needed?
| 28 October 2009 | |
| My client filed a tax return even though not required as he didn't meet the minimum filing requirements. Following his filing, he got a K1. With the inclusion of the income from the K1, he still does not meet the minimum filing requirements. I don't see any benefits (no carryover's etc) to filing the amendment return to the include the K1. However, since he did file originally, would you suggest filing an amendment just so the tax return matches up to his wage and income transcript? | |
WIBadgerCPA (talk|edits) said: | 28 October 2009 |
| Agree with Kevin, no filing requirement and statute has started to run anyway. No benefit to filing amended return. | |
| 28 October 2009 | |
| Yes. The IRS is quite good at matching income from K-1s. They'll come knocking in 2 1/2 years. | |
| 28 October 2009 | |
| The IRS will match the K-1 with the return and do a pro forma calculation. If it shows no tax - you will not get a notice. | |
