File An Amended Tax Return 

Did you filed your 2015 tax return and forgot to include some income or failed to claim a deduction or credit?  Good news, it is not too late!

An amended return can be filed to correct an already filed tax return. Failing to report an item of income may generate an IRS inquiry, although it may take year or more after the original return was filed, but unfortunately, interest and penalties will have already built up. That’s why it’s a good idea to file an amended return as soon as possible to avoid the headache of IRS correspondence and to minimize the interest and penalties on any additional tax you might owe. (more…)