Taxes from A to Z: X is for 1040-X

We all make mistakes. And occasionally, those mistakes happen to involve a federal income tax return. For just those occasions, the IRS has created the federal form 1040-X (downloads as a pdf). The form 1040-X is surprisingly short: a mere two pages long. That’s because it’s not meant to be a new return, just an … Read more

Fearing The Taxman: When Not To Be Scared

Tax issues causes some folks to act in an irrational manner. True, the taxman shouldn’t be ignored. But feared? Nah. Here’s my list of the top five things that taxpayers are irrationally afraid of – and shouldn’t be: 1, Being aggressive when it comes to deductions. You’re entitled to take deductions. C’mon, say it with … Read more

9 Ways To Get Your Tax Return Noticed By The IRS (And That’s Not A Good Thing)

1. Don’t check your math. While most people use software these days, some taxpayers still do their forms 1040 (and 1040-EZ) by hand and math errors are the top mistake that taxpayers make. What you might not know is that the IRS has a staff of “checkers” who basically doublecheck your math. If your numbers … Read more