TAXBILLY Posted October 28, 2009 Report Share Posted October 28, 2009 http://www.irs.gov/pub/irs-dft/f1040x--dft.pdf taxbilly Quote Link to comment Share on other sites More sharing options...
Lynn EA USTCP in Louisiana Posted October 28, 2009 Report Share Posted October 28, 2009 I saw this draft several months ago when it was first released and theIRS were asking for comments. I strongly urged them to NOT change the 1040X - guess my comments carried no weight. Lynn Jacobs, EA, NP Enrolled Agent Notary Public Kenner, LA Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted October 28, 2009 Report Share Posted October 28, 2009 I think this change will increase my revenue. I see lots of situations where additional letters of explanation will be needed after filing this new version. Job security! Quote Link to comment Share on other sites More sharing options...
jainen Posted October 28, 2009 Report Share Posted October 28, 2009 >>I see lots of situations where additional letters of explanation will be needed<< Don't be silly. Who could not understand this? Line 1 - What's your income? Line 2 - What's your deductions? Line 3 - Subtract Line 2 from Line 1 Quote Link to comment Share on other sites More sharing options...
Catherine Posted October 28, 2009 Report Share Posted October 28, 2009 >>I see lots of situations where additional letters of explanation will be needed<< Don't be silly. Who could not understand this? Line 1 - What's your income? Line 2 - What's your deductions? Line 3 - Subtract Line 2 from Line 1 Very simple. They also ask for corrected forms and schedules to be appended. Many if not most folks trying this on their own will miss that bit. And we'll end up with new clients after their self-prepared 1040X is rejected. Quote Link to comment Share on other sites More sharing options...
jainen Posted October 28, 2009 Report Share Posted October 28, 2009 >>They also ask for corrected forms and schedules to be appended<< Nothing new about that. In fact, this draft has almost everything that was in the old form except the original numbers, which the IRS already knows but taxpayers who have previously amended or been audited sometimes get mixed up. Note that the lines here are exactly the same as before except that a couple of payment categories have been consolidated. This is a good improvement. Quote Link to comment Share on other sites More sharing options...
mcb39 Posted October 29, 2009 Report Share Posted October 29, 2009 Jainen is correct. You were always supposed to attach copies of any forms that had changed to the 1040X when submitting it. I know of very few instances where taxpayers try to do their own amendments. That is often when they start coming to us. Many taxpayers do not even know that you can amend a return, let alone three. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted October 30, 2009 Report Share Posted October 30, 2009 Basically, any time they change a form significantly it increases business for tax professionals. Quote Link to comment Share on other sites More sharing options...
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