Ten Tips For Amending Your Tax Return
(Forbes) — Journalist Lee Sheppard once remarked that a tax return is signed under penalties of perjury, and is not an opening offer! That’s true, but there are still plenty of times when you either made a mistake or discover something after filing that cries out for correction. You might receive a Form K-1 (or an amended K-1) from a partnership, LLC or S corporation after you filed your return. You might discover you omitted income, incorrectly reported your filing status, forgot to deduct all your business expenses or didn’t take advantage of a credit for your new hybrid car.