amended return

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  • noun

Words related to amended return

a tax return that corrects the information in an earlier return

References in periodicals archive ?
Most notably, in cases of erroneous accounting methods, a taxpayer may not be able to correct certain errors through amended returns, but rather must apply to the IRS for permission to change to another method (by filing Form 3115, Application for Change in Accounting Method).
Those same companies often file amended returns or carry-back claims and, on occasion, receive adjustments from the IRS.
7701-15(a)] to sign original or amended returns and extension requests, filed after 2003, by means of a rubber stamp, mechanical device or computer software program.
Like the previous case, it would appear that amended returns would need to be filed for all open years; however, the IRS did not address this problem, nor explain how the closed years should be reported.
It is absolutely clear, however, that the amended returns must eventually provide adequate documentation that demonstrates nexus before the Department will process a refund.
Methods: In Notice 2004-54, the Service authorizes return preparers to sign original returns, amended returns and extension requests by rubber stamp, mechanical device or computer software program.
Practitioners should review the past and pending tax returns of lottery winners' estates to see if this ruling warrants an amended return.
TEI seriously doubts that the IRS has the authority to reopen closed years or to require taxpayers to file amended returns for such years.
The taxpayer filed amended returns for the previous three years to claim 15-year depreciation.
Increase the interest rate on amended returns filed to reverse abusive tax shelter transactions.
Observation: Affected taxpayers should file amended returns for 1991, 1992 and 1993.
We believe that the case managers should be requested to prepare an analysis of (i) the return as originally filed, (ii) any amended returns filed, and (iii) the audit settlement (as set forth in the Revenue Agent's Report), including amounts "agreed" and "unagreed" at the close of the examination and amounts volunteered' by the taxpayer at the outset of the examination.
In the example, X's mechanism for recovering the accelerated depreciation it was supposed to take in prior years would be to file amended returns for those years.
This permits taxpayers to treat the loss as if it happened in 1999 and file amended returns now.