by George Dimov | Dec 20, 2024 | NYC Accounting
Introduction Filing your federal income tax forms on time is essential to avoid penalties and ensure compliance with the IRS. Understanding the key deadlines and options available can save you from unnecessary stress and financial consequences. Importance of Knowing...
by George Dimov | Dec 19, 2024 | NYC Accounting
Introduction Submitting an amended tax return is a useful way to correct errors or make updates to a previously filed return. However, what happens if you realize there’s an error on the amended return itself? Understanding your options is crucial. Is It Possible to...
by George Dimov | Dec 19, 2024 | NYC Accounting
Introduction Filing an amended tax return allows you to correct errors or make adjustments to a previously submitted return. However, understanding the processing timeline is important for managing expectations and planning. Federal Processing Times The IRS typically...
by George Dimov | Dec 19, 2024 | NYC Accounting
Introduction Amending a tax return allows you to correct errors or update information from a previously filed return. While this can provide financial benefits, it’s essential to understand the potential outcomes and how they might impact you. Potential Outcomes of...
by George Dimov | Dec 19, 2024 | NYC Accounting
Introduction This was a slow and painful process for taxpayers, who needed to file a paper Form 1040-X and wait months for the IRS to process the form. That said, the IRS has set up electronic filing for some amended returns, which might make the filing not just...
