giogis245 Posted January 24, 2015 Report Share Posted January 24, 2015 Just wanted to confirm here that 2007, 2008 and 2009 can be amended if it's to account for gross income that was over sought? It's +/- $5,000 per year, it is a substantial amount and client just wants to make sure everything is fine and in order with the IRS. He knows he will be paying in, he is not entitled to a refund and it's been too long to claim one anyway. Thank you! Quote Link to comment Share on other sites More sharing options...
Pacun Posted January 24, 2015 Report Share Posted January 24, 2015 What do you mean by substantial? If 5K is substantial, I guess he reported less than 5K. Yes, you can amend them and pay if clients owes but client cannot get a refund, as you correctly stated. Quote Link to comment Share on other sites More sharing options...
rfassett Posted January 24, 2015 Report Share Posted January 24, 2015 Yes you can amend those years for tax due. Isn't it cool when we get a client with a conscience? Good luck! Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted January 24, 2015 Report Share Posted January 24, 2015 FYI sometimes TP are required to amend prior years tax returns for immigration purposes, just saying. Quote Link to comment Share on other sites More sharing options...
Marie Posted January 25, 2015 Report Share Posted January 25, 2015 My client wanted to come clean, past years' partnerships, now we are dealing with IRS on the partnership penalties. We've asked for abatement, wrote an appeal. wondering if we did the right thing. she came to me to make it right, I didn't think I could tell her not to, but IRS sure does discourage people from doing the right thing. Quote Link to comment Share on other sites More sharing options...
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