The Tax Resources Blog

Archive for December, 2010

2008 Tax Return Deadline

Question: My tax preparer giving me hard time.?

I started a small business in mid 2008. I made some money like $3000. But while e-filing my personal tax using HR BLOCK Tax Cut, I failed to understand how to declare that money. I thought I need to do it as a business Tax Return. So I posted question at yahoo answer community for answer. They advised me to to amended Tax Return. I went to a tax professional 1 month before the deadline. I gave him my info. But he missed couple of appointment to finalize my Tax Return. One day he said you already filed the tax for this year so you don’t need to file this year. You can ammend it any time, even with next years Tax Return. Is he correct?
Do I need to pay penalty for this?

Answer: We have 3 years from the original due date to file an amended to a Tax Return. But it is better to do it as soon as you realize you need to, you could forget or IRS could assess your return.
Go to a real tax preparer such as a CPA don’t go to so called preparers such as Hr Block, jackson hewitt, liberty, these place are part timers, only available during Tax Season, and most employees are in training, have no idea what tax are, just making a quick buck.
IRS only charges penalties if you owe.
So look in your city for a PROFESSIONAL TAX PREPARER.

Your Money: Deadline Looms for Late Tax Filers