Taxpayer asks:
A taxpayer with 9 children didn’t list them all on the ‘07 return because they were not all required to obtain the maximum refund, but now wishes to file an amended return, since the number of children affect the amount of the rebate. Will the amended return produce the desired effect - i.e. a larger refund?
Thank you, in advance, for your answer.
Taxgirl says:
Taxpayer should file a form 1040X to correct any misinformation on the original form 1040.
This also extends to taxpayers who realize afterwards that they should have reported more income on their income tax return in order to qualify for a tax rebate.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
Have a question? Ask the Taxgirl!
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