Tax
Mar. 30, 2017
You just filed your taxes with a big mistake, now what?
Should you file an amended return, and what are the pitfalls?
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
If you just filed your taxes - business, personal or both - you probably feel relieved. But what if you made a huge mistake worthy of best picture at the Oscars? Perhaps you discover that you omitted some income from a Form 1099 that you misplaced. Plainly, if you did that you will owe the IRS taxes on the omitted income, probably with interest and penalties.
Alternatively, perhaps you forgot to claim a key deduction such as your state income taxes, mortgage interest, or a big contr...
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