Rules on amending your IRS Tax Return 1040

Here are the general rules for amended your tax return

Usually, an amended return requesting a credit or  tax refund  must be filed by the later of:

* Three years after the date you filed your original return, or
* Two years after the date you paid the tax.

Generally, any credit or refund will be limited to the part of the tax paid within a 3-year period (plus any extension of time for filing your return) immediately before you file your amended return if:

* The amended return is filed within 3 years of filing the original return.

If not filed within three years after filing the original return, the credit or refund will be
limited to the tax paid within the 2 year period immediately before you file the amended return.

The limits are different for issues such as net operating losses, foreign tax credits, and bad debts.

For additional information, refer to Chapter 1 of Publication 17, Your Federal Income Tax. Publication 17 is available for download at www.irs.gov/, or you may request a copy by calling 800-829-3676.

Should you have a more complicated tax problem, be sure to call Fresh Start Tax 1-866-700-1040  If you are going to owe a tax balance and are unable to pay your Federal Taxes, call us today.

Related posts:

1. Amended Returns, Facts
2. What Happens After You File Your Tax Return?
3. New Tax Preparers Rules
4. How to get a copy of your tax return
5. IRS can file for you if you have not filed, the process is call SFR, Substitute for Return