Millions of individuals file amended returns each year. This CPE Course provides you with an overview of why, when, where, and how to file an amended tax return for individuals.
This course is excluded from all subscription packages.
Who Should Attend
CPAs, Enrolled Agents, Tax Return Preparers, and Tax Attorneys.
Topics Covered
- Deciding whether or not to file an amended return
- 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
- Refund payment options
Learning Objectives
- Identify the situations that warrant the filing of an amended return
- Recognize when an amended return should not be filed
- Recognize how to prepare and file an amended return
- Recognize differences in filing on paper or electronically
- Describe ancillary matters for amended returns
- Identify the different deadlines for filing an amended return
- Recognize when a carryback claimed on an amended return for a prior year would be impacted
- Identify how interest and penalties affect amended returns
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (1 hour)
Program Prerequisites
None
Advance Preparation
None
Instructor
Barbara Weltman
Barbara Weltman, JD, has written extensively on a wide variety of tax, small business, and financial planning matters for both professionals and the general public. The Wall Street Journal called her “the guru of small business taxes.” She is the author of a number of self-study programs for CCH. She is publisher of Big Ideas for Small Business® and Idea of the Day® found at www.BigIdeasForSmallBusiness.com and is a guest blogger for the SCORE and many other sites. Ms. Weltman is a graduate of Brooklyn Law School.