Amending Form 1040: Filing 1040X
Author: Barbara Weltman, Sidney Kess
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
There are no statistics available detailing how many amended returns are filed each year, but in 2014 the IRS projected that almost 5 million taxpayers would amend their returns. This CPE Course provides you with an overview of why, when, where, and how to file an amended tax return for individuals.
Presented by Miles Hutchinson.
Publication Date: December 2018
Designed For
CPAs, Enrolled Agents, Tax Return Preparers, Tax Attorneys
Topics Covered
- When to file or not file an amended return
- Filing an amended return using the safe harbor relief allowed to homeowners who suffer property loss
- Filing an amended return due to net operating loss
- Other reasons for filing an amended return
- Moving expense deduction for military personnel
- How and when to file an amended return to claim a refund
- Completing Form 1040X
- Carryback claims
- Necessary forms to file with an amended return
- Ancillary issues for amended returns
- Processing time for an amended return
- Penalties associated with an excessive refund claim
Learning Objectives
- List the situations that warrant the filing of an amended return
- Prepare and file an amended return
- Describe ancillary matters for amended returns
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
