Amending Form 1040: Filing 1040X (Currently Unavailable)
Author: Barbara Weltman, Sidney Kess
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
The IRS estimates that more than 3 million amended returns are filed each year by individuals. This CPE Course provides you with an overview of why, when, where, and how to file an amended tax return for individuals.
Publication Date: March 2021
Designed For
CPAs, Enrolled Agents, Tax Return Preparers, and Tax Attorneys.
Topics Covered
- Deciding whether or not to file an amended return
- Impact of COVID-19-related law changes on amended returns
- Filing an amended return due to net operating loss
- Other reasons for filing an amended return
- When and how to file an amended return to claim a refund
- Completing Form 1040X
- Carryback claims
- Ancillary issues for amended returns
- Processing time for an amended return
- Penalties associated with an excessive refund claim
Learning Objectives
- Identify the situations that warrant the filing of an amended return
- Recognize how to prepare and file an amended return
- Describe ancillary matters for amended returns
- Identify when the deadline for filing an amended return is longer or can be extended
- Recognize when a carryback claimed on an amended return for a prior year would be impacted
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
