As seasoned industry experts with years of experience under our belts, we find that high liability on a U.S. tax return is often the result of a return that has been improperly prepared or completed. This is common—both for people who file their own returns first-hand and for people who work with tax professionals who don't have complete information about all tax-related rules and regulations.
Regardless of the situation, you find yourself in, don't worry—we're here to help. You are likely able to file an amended return to add deductions and other details that may have been missed during your first attempt—which is what our Take Two® Tax Consultation is all about. You can see more about our service in the following video:
After your original 1040 tax return has been filed, that information can only be changed by filing an amended return on Form 1040 X. This can be used to correct or supplement any information on Forms 1040, 1040 EZ, or even 1040 A. Using Form 1040 X, you can make any or even all the following changes depending on the situation:
You can report additional income.
You can claim deductions or credits that you missed.
You can correct credits you took that you were not actually eligible for.
You can change your filing status.
You can increase or decrease your number of dependents.
And many, many more changes are possible.
If all this sounds like it's a bit on the complicated side, that's unfortunate because it is. But don't worry—we're here to help.
With our Take Two® Tax Consultation, we can look at your return and go over every last detail in an effort to find missing deductions, credits, incorrect information, and more. We understand there are a huge number of taxpayers who are actually afraid to file an amended return because they don't want the IRS to use it as the basis for conducting an audit at some point in the not-too-distant future.
While it's true this is always a possibility (approximately 2% of all taxpayers are audited every year), your failure to make these changes could cause you to miss out on the hundreds or even thousands of dollars to which you are entitled from the IRS.
We absolutely don't want to see this happen to you, which is why we're prepared to stand by your side every step of the way. Not only will we help you correct any and all information that needs to be, but we'll also go out of our way to find every last dollar that is rightfully yours.
To find more information about our industry-leading Take Two® Tax Consultation program, please don't delay—contact Jason W. Simpson, PA today at (863) 937-9024. Don't forget, the IRS usually requires an amended return to be filed no later than three years after the original filing date, so act fast before you miss out on this opportunity.