Author Archives: Carol

From our CPA office in St. Petersburg, FL – Beginning in 2012, taxpayers may receive a rebate on amounts spent for health insurance. Under the new health care law, health insurers who do not meet the new requirements for medical … Continue reading →

From our CPA office in St. Petersburg, FL – One in eight people earning at least $1 million annually was audited by the Internal Revenue Service last year, a much higher rate than for individuals earning less than $200,000 where … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- Our final tip for FIling Amended Returns: 8. If you owe additional 2011 tax, file Form 1040X and pay the tax before the due date to limit interest and penalty charges … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- 7. If you are filing to claim an additional refund, wait until you have received your original refund before filing Form 1040X. You may cash that check while waiting for any … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- 6. If the changes involve another schedule or form, you must attach that schedule or form to the amended return. If you have questions about filing an amended return or other … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- 5. If you are amending more than one tax return, prepare a 1040X for each return and mail them in separate envelopes to the appropriate IRS campus. The 1040X instructions list … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- Continuing with our 8 Facts about Filing Amended Returns: 4. Be sure to enter the year of the return you are amending at the top of Form 1040X. Generally, you must … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- 3. Generally, you do not need to file an amended return to correct math errors. The IRS will automatically make that correction. Also, do not file an amended return because you … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- Yesterday we started a blog series about Filing Amended Returns. Today we continue that series with fact #2: 2. An amended return cannot be e-filed. You must file a paper return. … Continue reading →

From Carol McAtee’s CPA firm in St. Petersburg, FL- What if you’ve already filed your return, but realized that you were eligible for a deduction or credit that you didn’t take, or worse–discovered an error and need to “fix it” … Continue reading →