AMENDED TAX RETURN

There are many factors to take into consideration before amending a tax return.  For example if you are wanting to file a chapter 7 bankruptcy, filing an amended return will extend the time before you can discharge your taxes in bankruptcy.  It will also lengthen the IRS statute of limitations.  If your IRS tax debt is close to expiring, amending a tax return should be avoided.

If your IRS resolution advisor and you have determined that an IRS installment arrangement is the best solution for you, amending your past tax returns to lower the IRS tax debt makes sense.  A 1040X amended tax return needs to be supported with IRS forms and you should have proof of deductions you are claiming on the amended return.  We always file the amended return in the most aggressive way allowed by law.  Proper IRS debt settlement work should always consider the benefits of filing amended tax returns.