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Amended Tax Returns: Reclaim Your Money, Resolve Your Errors

Don't Let Tax Mistakes Cost You - Act Now

Did you overlook income? Miss crucial deductions? Discover errors in your tax filing? Our CPA team specializes in amended tax returns, meticulously reviewing your original filing to uncover hidden savings while ensuring full compliance with IRS regulations. With our help, what started as a tax oversight could end up putting more money back in your pocket.

Speak with a tax specialist now

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"It is a great pleasure to work with George and his great team. They are incredibly responsive, address all questions and concerns in real time. They have consistently year after year gone above and beyond in examining my returns and providing expert advice to me."

-Michael LaGreca
File an amended tax return for unreported income

Unreported Income

Overlooking income on 1099s or investments can lead to IRS penalties and interest. Our CPAs help you accurately report all earnings, including freelance work, dividends, and capital gains, ensuring compliance and avoiding costly surprises.

Missed Deductions or Credits

Don’t leave money on the table. We identify often-overlooked deductions and credits that could significantly reduce your tax liability or increase your refund.

File an amended tax return for incorrect filing status

Incorrect Filing Status

Filing status errors can impact your tax bracket and available deductions. Our team ensures you’re using the most advantageous filing status and correctly claiming dependents to optimize your tax situation.

Foreign Income Errors

International tax requirements are complex and ever-changing. We guide you through proper reporting of foreign income and assets, helping you avoid severe penalties for non-compliance with FBAR and FATCA regulations.

File and amended tax return for FATCA and FBAR compliance
File and amended tax return for misfiled business expenses

Misclassified Business Expenses

Proper expense classification can substantially impact your business’s tax liability. Our experts review your expenses, ensuring they’re correctly categorized to maximize deductions while maintaining compliance with IRS guidelines.

Your Personal and Business Accounting Team

George Dimov - Founding President of George Dimov CPA and Tax Specialists, an online CPA firm with the highest standards

George Dimov

President

Stan Shraybman, MBA, EA

Senior Tax Manager

Bob Liu, CPA

Senior Accountant

Xintian Wang, CPA

Senior Tax Manager

The Amendment Process Made Simple

Thorough review of your original return

Our CPAs meticulously examine every line of your original filing. This comprehensive analysis ensures no detail is overlooked, setting the foundation for an accurate amendment.

Identification of Errors and Missed Opportunities

We pinpoint discrepancies and uncover potential tax-saving opportunities. Our expertise often reveals deductions or credits you may have missed, potentially increasing your refund.

Reconstruction of Your Return and Forms

We don't just file a 1040X. Our team rebuilds your entire return, including all required supporting documentation, to ensure full compliance and maximize your tax benefits.a

Clear Explanation of Potential Outcomes

We break down the amendments in plain language, helping you understand the impact on your tax situation. You'll know exactly what's changing and why, empowering you to make informed decisions.

Electronic Filing for Faster Processing

For eligible tax years, we leverage e-filing to expedite your amendment. This streamlined process can significantly reduce processing time, getting you results faster.

Ongoing Support for IRS Inquiries

Our commitment doesn't end with filing. We stand by your side, addressing any follow-up questions from the IRS promptly and professionally to ensure a smooth resolution.

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Get award-winning accounting services

Don’t let tax errors cost you money or peace of mind. Contact our CPA team for a confidential review of your tax situation. We’ll determine if an amendment can benefit you and guide you through the entire process.

Optimize your taxes and save thousands

Speak with a tax accountant now

FAQs on Amended Tax Returns

The IRS requires that a return is amended anytime an error or omission is discovered. In terms of timeframe, the IRS requires that the return be amended “as soon as possible.” 

Amended returns can be tricky as the original return must be reconstructed & a numerical and written reconciliation must be provided (line by line). 

Amended returns require quite a bit more than only form 1040-X. When many taxpayers call the IRS, the IRS mentions the 1040X form, causing many taxpayers to be confused thinking this is the only form that must be filed. This is not correct – the IRS requires that we resubmit the entire return + the 1040X form as a cover-page explaining the changes both numerically as well as verbally.

Filing return amendments for years 2019 and 2020 can be done electronically to save time. The IRS has allowed this since Covid to make things easier on everyone.

You received a penalty letter or a tax assessment letter from the IRS or any state

The IRS and states often send letters if they find issues with your return. The most common letter is a CP2000, which means the IRS has found changes that must be made to your return. This happens when the information they have received does not match what you reported. The most common reasons for this are missing 1099-Ks from ecommerce, missing 1099Rs from a distribution from a retirement plan, or missing RSU/ESPP/NSO equity from an employer stock compensation plan. 

State letters normally arrive because an aggressive state, such as CA or NY, has determined that you possibly lived there & owe them tax. 

These can often easily be addressed – just shoot us a message below. 

Other common reasons are below:

  • You realized you accidentally forgot to report 1099-INT, 1099-DIV, K-1, 1099-MISC or any other type of income
  • You found out that you qualify for a tax credit or deduction and would like to get your refund. 
  • Included incorrect dependent information
  • Accidentally left out foreign income, FBAR, forms 8938
  • Returns were filed too aggressively or by unlicensed person & you would like to have them corrected  
  • Depreciation was missing from a rental property
  • State tax was allocated incorrectly
  • Forgot to report forms 3520, foreign gifts, foreign companies, or other required disclosures

    Note: tax refunds from the IRS are only allowed for three years after your filing due-date, so act fast if you feel that your amendment will produce a refund!