DISCLAIMER: Any bookkeeping, business or tax article contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor can it be used to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.

Discovering a Mistake After Your Tax Return Is Filed

May 8, 2024

Discovering a Mistake After Your Tax Return Is Filed

Did you file your 2023 tax return and then you started discovering a mistake after your tax return was filed? Perhaps you completed your return yourself and made a mistake in math or neglected to include a schedule that should’ve been attached. Or maybe you recently remembered some large, potentially deductible, charitable donations you’d made in early 2023 that you’d forgotten to tell your tax professional about. Now you may be wondering if you need to file an amended return.

Taxpayers usually don’t need to file amended returns for certain issues. For example, the IRS will correct any math errors while processing tax returns and notify the taxpayers, and if a form or schedule is missing, the tax agency will send a letter requesting it. Certain other changes, however, require an amended return to be filed. They include a change of filing status, missing income, incorrect deductions or credits, and an inaccurate tax liability. Contact the office for help filing an amended return.