Re: Can I amend a 1999 return?

#4 09-17-2005, 12:00 AM

Phil Marti" <prm20871[at]verizon.net> wrote:
- quote -

> "Lanny Williams" <lanny[at]loxinfo.co.th> wrote:

> > As for amending the 1999 return to report MORE tax, that
> > won't work, either. IRS also has 3 years from the due date
> > to assess additional tax. Since that statutory period has
> > expired, IRS is legally barred from assessing or receiving
> > any more tax for 1999.

> This is incorrect. The assessment statute is 3 years from
> the later of the due date or the date filed. In the OP's
> fact presentation, that period is still open.

clear as MUD then!
Chaos, Panic & Disorder....
My work here is done

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

#3 09-16-2005, 11:41 PM

"Phil Marti" <prm20871[at]verizon.net> wrote:
- quote -

> "Lanny Williams" <lanny[at]loxinfo.co.th> wrote:

> > As for amending the 1999 return to report MORE tax, that
> > won't work, either. IRS also has 3 years from the due date
> > to assess additional tax. Since that statutory period has
> > expired, IRS is legally barred from assessing or receiving
> > any more tax for 1999.

> This is incorrect. The assessment statute is 3 years from
> the later of the due date or the date filed. In the OP's
> fact presentation, that period is still open.

clear as MUD then!
Chaos, Panic & Disorder....
My work here is done

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

#2 09-12-2005, 10:49 PM

"Phil Marti" <prm20871[at]verizon.net> wrote:
- quote -

> "Lanny Williams" <lanny[at]loxinfo.co.th> wrote:

> > As for amending the 1999 return to report MORE tax, that
> > won't work, either. IRS also has 3 years from the due date
> > to assess additional tax. Since that statutory period has
> > expired, IRS is legally barred from assessing or receiving
> > any more tax for 1999.

> This is incorrect. The assessment statute is 3 years from
> the later of the due date or the date filed. In the OP's
> fact presentation, that period is still open.

clear as MUD then!
Chaos, Panic & Disorder....
My work here is done

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

#1 05-03-2005, 11:48 AM

"Lanny Williams" <lanny[at]loxinfo.co.th> wrote:

- quote -

> As for amending the 1999 return to report MORE tax, that
> won't work, either. IRS also has 3 years from the due date
> to assess additional tax. Since that statutory period has
> expired, IRS is legally barred from assessing or receiving
> any more tax for 1999.

This is incorrect. The assessment statute is 3 years from
the later of the due date or the date filed. In the OP's
fact presentation, that period is still open.

--
Phil Marti
Clarksburg, MD

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

05-03-2005, 08:04 AM

Bill Brown wrote:
- quote -

> Lance Mannion wrote:

> > 1999 return filed April 2003. I was owed an IRS refund & carried
> > forward the credit to the year 2000.
> > > Now I realize I overstated deductions for 1999. Can I amend my
> > return, and just claim a smaller credit carryforward (which in
> > turn means I'll need to amend yr 2000's return, right?) ?
> > > Thanks
> > > ps - I can't figure out in the 1040X instx whether it's 3 years
> > from the original due date, or 3 years from the date actually filed.

> You have (had) until April 2005 to file an amended 1999 tax
> return to get an additional refund. You can still file an
> amended return to pay more taxes (or to reduce the amount of
> refund credited to the next year's liability).

No, this is wrong. The 1999 tax return was due on
4/15/2000. Three years from that is 4/15/2003! However, if
a payment was made after 4/15/2000, you would have two years
from the date of payment to apply for a refund. Any such
refund would be limited to the subsequent payment, however.

OP does not have until 4/15/2005 to claim an additional
refund. The statute runs from the due date or the date of
PAYMENT. He says he received a refund on the original
return. As a result, there was no payment which would
extend the statute.

As for amending the 1999 return to report MORE tax, that
won't work, either. IRS also has 3 years from the due date
to assess additional tax. Since that statutory period has
expired, IRS is legally barred from assessing or receiving
any more tax for 1999.

You could, of course, make a contribution to reduce the
national debt!

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

#-1 05-02-2005, 05:34 AM

Lance Mannion wrote:

- quote -

> 1999 return filed April 2003. I was owed an IRS refund & carried
> forward the credit to the year 2000.
> Now I realize I overstated deductions for 1999. Can I amend my
> return, and just claim a smaller credit carryforward (which in
> turn means I'll need to amend yr 2000's return, right?) ?
> Thanks
> ps - I can't figure out in the 1040X instx whether it's 3 years
> from the original due date, or 3 years from the date actually filed.

You have (had) until April 2005 to file an amended 1999 tax
return to get an additional refund. You can still file an
amended return to pay more taxes (or to reduce the amount of
refund credited to the next year's liability).

Regards,
BIll

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->

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