nettlebed

I believe that I have discovered an error in my tax reporting to the IRS for the last nine years. I am almost 100% certain that I am not liable for any additional tax (I won't know for sure until I do the calculations), but I want to file amended tax returns.

How many years do I need to go back and file amended returns for? If I was in the UK, I believe it would be six years for the Inland Revenue: is there a "statute of limitations" for amending US returns? If not, it's going to be a real bummer filling in ten returns this year

dreamercon

Depending on the facts, its either three or six years. Its six if you are self-employed, for example.

Michael

Generally, to claim a refund, you must file Form 1040X within three years from the date you filed your original return or within two years from the date you paid the tax, whichever is later.

Normally the IRS will audit tax returns within 3 years if they are going to do an audit. Unless the error is large, I wouldn't bother amending more than 3 years.

nettlebed

I'm almost 100% that the changes are going to be tax neutral, so I'll look at doing three years.

Thanks!

Jerseygirl

Oh sh*t it's that time of year again. Hubby is so paranoid about paying his taxes I swear we loose out hand over fist every year even though our accountant prepares our tax returns...but if it makes him happy.

md95065

If the changes really are tax neutral I wouldn't bother submitting amended returns unless either the IRS query something or not amending the returns will have some adverse effect on future returns that you file.

dreamercon

Note that filing a false tax return may be a crime, even if the government is not deprived of any tax by reason of the filing of the tax return.

md95065

If he believed that it was correct at the time that he filed it then, while it may subsequently transpire that it contained errors it was not a "false" return and did not involve any kind of willful misrepresentation.

My understanding is that the OP only "believes" that he has discovered an error in his tax reporting - without knowing the nature of that error it is hard to say whether filing amended returns is really necessary.

After filing a return a couple of years ago I found a 1099 reporting about $40 of interest that I forgot to include - I did not bother filing an amended return because I know that income has been reported to the IRS and that they will eventually notice the discrepancy and send me a request for about $12 tax that I owe them - just like they did on another occasion when something similar happened but in that case I didn't notice until they told me about it.