The IRS Audit Blog

Posts Tagged ‘returns,’

Question: if you send your 1040X Tax Form in July 2007, how long will it take for the IRS to send it to me?

all the corrections are correct. I sent it to Kansas City, Missouri from St. Louis Missouri.

this week is the 6th week and I checked on the IRS site and they still didnt process it.

sent my 1040x on July 16th, 2007

Answer: I sent my amendment in mid July and still have not heard anything either. My accountant said when you check the IRS site, it doesnt include amended returns. He said if it ends up being 3 months and I still havent recieved anything to call the IRS, but he said to wait almost 4 months just in case, because the IRS isnt very helpful when it comes to amendments because they arent tracked well. I am still hoping for an earlier than 3 months. Good Luck! Lets hope we get our money soon!

4 Steps to Undo a Roth IRA Conversion

Follow these four helpful hints to correctly recharacterize your Roth to a traditional IRA.

{Income Tax Savings} This VIDEO Will Save You $7234 Per Year In Your Home Based Business!

Question: Federal Refund Date Changed from 2/26 to 3/4?

I had to mail in the signature form after my return was accepted on 2/11. I mailed the form in on the 2/12 and the irs website said that I would recieve my refund by 2/26. I checked today and it changed the date of my expected refund date to 3/4. I had issues last year with my return and it started with changing the refund date, then I found out I was audited. I got last years refund 2 months later after the audit completed. I’m wondering if my requirement for a signature form this year would prompt a delay in refund or if I might be audited again? Our tax advocate last year said because we were audited last year, our chances of being audited are increased for the next 3 years? anyone have experience with this?
just got my DD details saying my refund is scheduled for direct deposit on 2/29. Just an update for anyone who has had their original date offset by a week like mine had.

Answer: They chanegd my refund date from 2/26 to 3/4 as well. I pray that it is not an audit, maybe it is exactly what the guy has stated, just taking a little longer than usual.

Arizona’s illegal immigrants can easily avoid E-Verify system

Experts say it’s not hard for illegal workers with quality fake ID to collect a paycheck.

Reducing your Chances of an IRS Audit from the Roni Deutch Law Firm

Question: Do I have to file a tax adjustment form (1040X)?

The day after I got my refund, I received a 1099-B and a 1099-DIV in the mail from a mutual fund I sold and took a bit fat loss on. However, there are capital gains ($41.77) and dividends ($40.28) on it. Do I need to file an adjustment, or is the amount small enough that I can claim it next year? I tried to read the directions but was just baffled by it, and the IRS help desk didn’t know.

Answer: You need to declare ALL income in current year on your current tax return. You’ll need to file 1040X to amend your tax return even if you don’t owe taxes on the income. If you fail to do so, you will eventually get a “love letter” from the IRS asking about the income. Depending on your total income, you may or may not owe taxes.

PUC programs target community

The start of a new year — and decade — has triggered a renewed commitment to volunteerism and service learning as part of the educational experience at Purdue University Calumet. In response, PUC’s Office of Student Affairs is inviting students to partake during the upcoming months in three distinct initiatives intended to provide much-needed community assistance and valuable learning. They …

Question: I claimed myself as a dependent when I am a dependent myself. Will the IRS take forever to process my 1040X?

My mother’s rapid tax refund got held up because I claimed myself as a dependent when I can be claimed by her. I mailed off my 1040X amendment form today. Will the IRS take forever to process this? Will she be abl to get her return anytime soon?

Answer: Your mother needs to mail her return and elect for her refund to be direct deposited. The amended return can take 8 to 12 weeks to process.

Internal Revenue Service 1-800-829-1040

payUSAtax(TM) Provides Last Minute IRS Estimated Tax Payments with a Credit Card at the Lowest Cost Ever Offered

RBS WorldPay is offering federal taxpayers, who have a quarterly estimated tax payment, several low cost and convenient last minute electronic tax payment options prior to this quarter’s January 15, 2010 tax deadline.

How to Complete and File a 1040A Tax Form : Are Kids a Tax Exemption?

Question: Income tax question?

I have two questions I was hoping someone could/would help with?

1. After having filed my 2006 taxes (I’ve received and spent my refund), I just realized that I didn’t file one of my W2s. Last year was really hectic for me, and I worked a number of jobs. Somehow or the other, I missed out on one. What do I do now..? Does anyone know? Do I ‘re-file’? Doesn’t/wouldn’t/shouldn’t that affect the refund collected?

2. Also, as I didn’t file my taxes at all in 2005 (this one wasn’t negligence. I was out of the country), I requested a copy of my W2s from that year, and will be filing it tomorrow… Does anyone know how (or if) Question 1 affects this?

I hope I haven’t been too confusing. If anyone can help, please do… I’m going insane with thoughts of being audited by the IRS.

Answer: Get the 2005 return in the mail

Then file an amended return to correct the 2006
If you discover an error after your return has been mailed, you may need to amend your return. The service center may correct errors in math on a return and may accept returns with certain forms or schedules left out. In these instances, do not amend your return!

However, do file an amended return if any of the following were reported incorrectly:

your filing status
your total income
your deductions or credits

Use Form 1040X (PDF), Amended U.S. Individual Income Tax Return, to correct a previously filed Form 1040 (PDF), Form 1040A (PDF), or Form 1040EZ (PDF). If you are filing to claim an additional refund, wait until you have received your original refund (you may cash that check). To avoid penalty and interest, if you owe additional tax for a current year amended return, file Form 1040X and pay the tax by April 15 of the current year.

http://www.irs.gov/pub/irs-pdf/f1040x.pdf

http://www.irs.gov/instructions/i1040x/index.html

Tribune watchdog: $685,000 a year to run nonprofit

More than 60 years ago, the city gave the Chicago Dwellings Association a noble mission  –  provide affordable housing for people with low and moderate incomes. In recent years, the nonprofit’s four apartment buildings also have become a lucrative income source for the organization’s president, Christine M.J. Oliver. In 2008, Oliver was paid about $685,000 in annual compensation from CDA and …

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