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Let's say you discover a deduction that was overlooked on a federal tax return that has already been filed. Or you realize that you didn't report some income. Perhaps you heard about a recently passed tax law that includes retroactive tax breaks you can benefit from.

Whatever the reason, an amended tax return may be the answer.

Amended returns generally must be filed within three years from the date you filed the original return, or within two years after the date you paid the tax, whichever is later. However, there are exceptions to this rule. For example, when it comes to amending a tax return to claim a loss for worthless investments or non-business bad debts, for example, you have up to seven years.

We can review past tax returns, check for forgotten deductions and file amended returns. Contact Tax Specialist Crystal Martin for help at 717-757-6999 or 800-745-8233. You can also send Crystal an email by using the form below.
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

IRS Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, we inform you that any US tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code.