2020 Amended Returns – the What Why How and When (1 Credit Hour of Federal Tax Law)

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In our ever-changing world of taxes amid new rules to familiarize ourselves with, there is one thing that will always remain, and that is taxes are complex and sometimes a return previously filed may unfortunately need changed. Understanding how to file an amended return is important in this ever changing environment, since you will need to understand the how, when, and even more important, why you should file an amended return (or not). In this course, you will learn about when you should file an amended return as well as considerations for when you many not need to file. You will learn about time limits to file an amended return as well as what that may change for statutory dates of assessment, and how to prepare an amended return for business as well as individual income tax returns. Last of all, you will learn about some techniques in submission, where to send, how to send, and what happens once sent. In the world of changing tax rules, it is important to understand the basics of amending returns, so if that sounds like something you expect to encounter, this course is for you!

Learning Objectives

1) Identify when it is appropriate to prepare an amended return
2) Determine time limits for filing an amended return
3) Understand how to prepare and submit an amended return
4) Learn the difference in preparing an amended business or individual return