Do your own taxes? Read this article about how it costs you more in lost refund than it would cost to have an income tax professional do your taxes in the first place.
Claiming Tax Back – An IRS Video
Here’s a video from the IRS for those interested in claiming tax back:
With the news on tax refund delays it’s good to see the IRS is letting you know just in case you’re interested in claiming tax back.
Claiming Tax Back – Even If You Already Filed
Did you know?
On top of those who haven’t yet filed, if your taxes were prepared incorrectly, claiming tax back is as simple as having your income tax professional file Form 1040X. The only way to know is to see your income tax professional. No-one can guarantee that you will get more money back, but many professional tax preparation services offer “second looks” where for a small fee they will look over your past filed tax returns for errors made and determine if claiming tax back is right for you. They might also find erroneous deductions that your tax preparer could’ve taken for you which the IRS WILL catch. It takes a few years, but we’ve seen that audits don’t usually occur until about the 3-5yr mark, long after your refund has been spent. If you amend in time you can save yourself from excess interest and penalties.
Interested in claiming tax back? Click the image below to contact a Jefferson Franklin Tax Patriot to schedule an appointment today!